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As more AI models and tools are released into the wild, they are becoming visually realistic and easier to use. When a model becomes optimized to run on lower-end hardware and meets realistic capabilities, it starts to gain critical mass to be used for fraud.

As technology advances, there is no slowdown in bad actors taking advantage of tools to commit crimes. Now, with more advanced AI entering the stage with vast capabilities, the barriers to entry for many identity verification bypass methods are being lowered.

We recently assisted a P2P crypto vendor that was facing major losses due to buyers on a P2P marketplace. They faced significant chargebacks and bank recalls from verified buyers with positive reviews. Unfortunately, many fiat payment methods are easily disputable by a buyer if they complain to their bank or financial institution.

This post will delve into the underworld of banking fraud and some examples of wire fraud. The anatomy of the fraud ecosystem keeps getting more complex, with more bad actors joining and applying their skills across industries. Banks need to be especially aware of these fraud scams as they can instantly lead to 6- and 7-figure losses.

ChatGPT's latest release of models can analyze images using the Vision API, meaning now is the time to test out new use cases. Using ChatGPT to view images can prevent fraud and create complex detection and prevention workflows. However, ChatGPT can not replace an entire identity verification stack as privacy limiters prevent the models from extracting certain information.

With WooCommerce’s rebrand to Woo, we released our latest updates with our new partnership with the top fraud prevention plugin, Anti-Fraud. Next, if you are researching alternative plugins for Token of Trust, Read ID, and Age Checker, you have found the ultimate answer.

Credit card fraud is still on the rise, and bad actors are shifting their strategy to automated bot attacks that target WooCommerce stores. If you have not experienced a carding attack, we will give you a brief overview of what happens and the impact on your business and bottom line.

We have updated our AI system to detect all identity documents with nearly every country supported and document type. The system is self-learning and constantly updated with support for any document your business collects.

Trust Swiftly recently encountered an uptick in the industry for chargebacks and fraud attacks. More consumers are interested in AI-related tools, which has created a market for cheaper subscription subscriptions. The bad actors are getting more advanced and collaborating extensively to widen their targets.

Recently the White House released a plan to stop the ongoing systemic fraud that many states and agencies faced these past few years. Covid allowed for an explosion in easy money through new programs that did little in due diligence.