GenAI could make KYC effectively useless

The report examines how generative AI enables realistic deepfake ID selfies that could undermine KYC processes used by platforms like Wise, Revolut, Gemini, and LiteBit. It outlines techniques leveraging Stable Diffusion, image editing, emulators (e.g., BlueStacks), and virtual webcams to feed synthetic images and potentially bypass liveness checks, citing Binance’s CSO on current tool capabilities. While there’s no confirmed evidence of real KYC systems being defeated, the ease and quality of these methods signal a growing threat to identity verification integrity.