Cato Networks has raised concerns about the ProKYC deepfake tool, which allows criminals to bypass KYC checks by creating fake identities and realistic videos for cryptocurrency exchanges. This advanced fraud technique has led to significant financial losses, highlighting the need for stronger security measures in financial institutions.
JoyAs regulators step up their scrutiny of DeFi, participants will need to improve compliance with AML and KYC and simplify the process for customers.
JinseFinanceBinance tightens KYC requirements for sub-accounts, effective April 20. Unverified users under Binance Link program lose access without complete KYC info. Restrictions include deposit, new orders, and trading functionalities. This follows Binance's global KYC verification mandate in August 2021 amidst heightened regulatory scrutiny.
Huang BoOKX's weak verification methods, coupled with platforms like OnlyFake, raise concerns over widespread identity fraud in online transactions.
JoyThese acts were reportedly seen taking place in Binance offcial Chinese language chat rooms.
BitcoinistWhile most crypto exchanges have begun implementing KYC mandates, investors still have the choice to opt for crypto exchanges that promote greater anonymity by not imposing KYC.
CointelegraphOne of the quickest ways to ensure crypto’s mainstream adoption is by working with the regulators, which includes implementing effective and investor-centric KYC and AML tools.
CointelegraphBinance's new Binance Account Bound token is aimed at many use cases in the decentralized society but will initially only serve as Binance KYC user credentials.
CointelegraphWith the regulatory push for a tighter identification standards rises, the crypto industry definitely has some innovations to offer.
CointelegraphTo ensure the sanction compliance and save the platform from the potential risk posed by illicit transacting of crypto, the ...
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