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GenAI could make KYC effectively useless
Gen AI tools like Stable Diffusion threaten to make KYC tools effectively useless by creating synthetic IDs and selfies.
Viral posts on X (formerly Twitter) and Reddit show how, leveraging open source and off-the-shelf software, an attacker could download a selfie of a person, edit it with generative AI tools and use the manipulated ID image to pass a KYC test. Tutorials online show how Stable Diffusion, a free, open source image generator, can be used to create synthetic renderings of a person against any desired backdrop (e.g. a living room). Early last year, Jimmy Su, the chief security officer for cryptocurrency exchange Binance, told Cointelegraph that deepfake tools today are sufficient to pass liveness checks, even those that require users to perform actions like head turns in real time.
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