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KYC For Financial Institutions

Summary by El Economista
In 2024, identity impersonation in digital financial institutions reached worrying levels, with an annual growth of 84% in the fraud rate for every 1,000 applicants, according to Unico Mexico’s A Year in Fraud 2024 study. Identity fraud was driven by tools such as deepfakes, allowing the counterfeiting of faces by artificial intelligence. This growth has been accompanied by increasingly sophisticated tactics by fraudsters, reflected in a 49% inc…
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KYC For Financial Institutions

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El EconomistaEl Economista

Identity fraud deepens for financial institutions

In 2024, identity impersonation in digital financial institutions reached worrying levels, with an annual growth of 84% in the fraud rate for every 1,000 applicants, according to Unico Mexico’s A Year in Fraud 2024 study. Identity fraud was driven by tools such as deepfakes, allowing the counterfeiting of faces by artificial intelligence. This growth has been accompanied by increasingly sophisticated tactics by fraudsters, reflected in a 49% inc…

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El Economista broke the news in on Sunday, March 30, 2025.
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