The rapid advancement of deepfakes is becoming a major challenge for sustaining trust in digital identity systems, the World Economic Forum (WEF) has warned. Deepfake-generating technologies, and especially face-swapping tools are enabling malicious actors to bypass know-your-customer (KYC) and remote verification processes, creating financial, operational and systemic risks for any institution that relies on digital trust. A new report for the World Economic Forum’s Cybercrime Atlas, published on January 8, noted that this advancement coincided with other worrying trends, such as threat actors increasingly targeting financial services and cryptocurrency – particularly prone to KYC bypass attacks. “Criminals are now combining AI-generated or stolen identity documents, advanced face swaps and camera injection to bypass live verification,” reads the report.
WEF: Deepfake Face-Swapping Tools Are Creating Critical Risks – Infosecurity Magazine
