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This thread is sponsored by Verisio
The contents of this post will detail the most up to date and prevalent methods to bypass KYC for many major websites and financial institutions, and also reflects on how these companies are catching up to fraudsters and denying verification applications with seemingly correct information provided.
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Level 1: The most basic form of verification - providing your identity information:
Due to increasing AML laws across the world in the recent years, many financial institutions including start-ups have been forced to implement KYC restrictions for even the most basic of their users. This has resulted in them requiring you to enter (including but not limited to) your full name, address, phone number, SSN/ID number and your usage purpose. This is collected to identify the user and identify any red flags which can be picked up on by compliance teams. An example of this happening is with crypto exchanges like Binance, ByBit and other tier 1 exchanges. They commonly have 3 levels of verification. The first level asks you for your identity information, this information is then automatically checked against watchlists and any other databases to see if you are a user that could pose risk to their clients or service. If you are deemed at risk, you may be selected to perform additional KYC checks such as a liveness check (video selfie). At Verisio we make sure this does not happen by using high quality identify sourced directly from the original source. This means your accounts do not get screened for additional KYC verifications once you receive them.
Level 2: Standard KYC procedure - uploading ID documents:
The method of uploading bank statements or ID documents in order to verify your identity has been normalised over the past decade, however as technology has developed, so have fraudsters. A recent trend emerging from the fraud landscape is the use of AI in collaboration with identity fraud. Specifically, many services have opened up which utilise robots to create identity documents (passports, drivers licenses and statements) using just the information you provide. This allows for you to create an ID in under 5 minutes, upload it and get verified instantly. However these robots follow procedures. This means that KYC firms can detect the prodecures and patterns used to generate these images and detect trends between all the images, then blacklist all IDs with that trend in their metadata/image data. At Verisio, we use real identity documents that are not digitally altered in any way, shape or form in order to eliminate any method of digital detection. There is no way to detect a digitally altered ID if the document is physically printed and the picture is not altered in any way.
Level 3: Exclusive KYC procedure - liveness check:
Many firms across the world have recently surfaced which help institutions combat KYC fraud by using their "revolutionary" technology to detect fake KYC attempts and flag them up for additional verification. One new method of digitally verifying a user's identity is a liveness check. This can come in many forms, but the most common form is using a selfie while holding your ID up to the camera. This method is used so that your face can be compared to the picture on your identity documents to confirm that you are indeed the person on the document. Another attribute to this verification is to hold up a piece of paper with the institution's name on it with the date and time. This is to ensure the video/image is not digitally altered. At Verisio we bypass all of these measures by using our own models to verify the accounts we use. This means that there is no digital editing occurring, instead our models verify the account with physical documents so that no liveness check can detect our model, since they are a real person.
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The contents of this post will detail the most up to date and prevalent methods to bypass KYC for many major websites and financial institutions, and also reflects on how these companies are catching up to fraudsters and denying verification applications with seemingly correct information provided.
[HIDE]
Level 1: The most basic form of verification - providing your identity information:
Due to increasing AML laws across the world in the recent years, many financial institutions including start-ups have been forced to implement KYC restrictions for even the most basic of their users. This has resulted in them requiring you to enter (including but not limited to) your full name, address, phone number, SSN/ID number and your usage purpose. This is collected to identify the user and identify any red flags which can be picked up on by compliance teams. An example of this happening is with crypto exchanges like Binance, ByBit and other tier 1 exchanges. They commonly have 3 levels of verification. The first level asks you for your identity information, this information is then automatically checked against watchlists and any other databases to see if you are a user that could pose risk to their clients or service. If you are deemed at risk, you may be selected to perform additional KYC checks such as a liveness check (video selfie). At Verisio we make sure this does not happen by using high quality identify sourced directly from the original source. This means your accounts do not get screened for additional KYC verifications once you receive them.
Level 2: Standard KYC procedure - uploading ID documents:
The method of uploading bank statements or ID documents in order to verify your identity has been normalised over the past decade, however as technology has developed, so have fraudsters. A recent trend emerging from the fraud landscape is the use of AI in collaboration with identity fraud. Specifically, many services have opened up which utilise robots to create identity documents (passports, drivers licenses and statements) using just the information you provide. This allows for you to create an ID in under 5 minutes, upload it and get verified instantly. However these robots follow procedures. This means that KYC firms can detect the prodecures and patterns used to generate these images and detect trends between all the images, then blacklist all IDs with that trend in their metadata/image data. At Verisio, we use real identity documents that are not digitally altered in any way, shape or form in order to eliminate any method of digital detection. There is no way to detect a digitally altered ID if the document is physically printed and the picture is not altered in any way.
Level 3: Exclusive KYC procedure - liveness check:
Many firms across the world have recently surfaced which help institutions combat KYC fraud by using their "revolutionary" technology to detect fake KYC attempts and flag them up for additional verification. One new method of digitally verifying a user's identity is a liveness check. This can come in many forms, but the most common form is using a selfie while holding your ID up to the camera. This method is used so that your face can be compared to the picture on your identity documents to confirm that you are indeed the person on the document. Another attribute to this verification is to hold up a piece of paper with the institution's name on it with the date and time. This is to ensure the video/image is not digitally altered. At Verisio we bypass all of these measures by using our own models to verify the accounts we use. This means that there is no digital editing occurring, instead our models verify the account with physical documents so that no liveness check can detect our model, since they are a real person.
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