Crypto industry observing unprecedented fraud scenarios
A new study reveals startling statistics on the rise of deep fake fraud in the crypto industry . According to a recent Sumsub report, 2023 has been marked by increasing professionalization in fraud tactics, with 77% of crypto companies observing new patterns and schemes. Deep fakes, in particular, continue to pose a significant challenge, with 70% of companies interviewed noting an uptick in their use to defraud victims. Our annual crypto report is here! https://t.co/B7zKLCpFPQ Check out State of Verification and Monitoring in the Crypto Industry 2023 for the latest insights on enhancing the user experience and improving verification in the crypto industry . Here are some key highlights that… pic.twitter.com/MeofY0WIyo — Sumsub (@Sumsubcom) October 26, 2023 Additionally, there was a staggering 128% increase in deep fake use within the crypto industry in 2023, compared to the previous year. Notably, the report indicates that 55% of crypto companies have experienced a spike...