The rise of AI in new account fraud
Artificial intelligence (AI) technology is increasingly being adopted by fraudsters to commit new account fraud (NAF) and bypass even biometric checks. This is revealed by a new report from Entrust, which analyzed data from more than one billion identity verifications in 30 sectors and 195 countries between September 2024 and September 2025. The report details how Generative AI (GenAI) has democratized the creation of counterfeit ID documents and deepfakes, allowing fraudsters to generate hyper-realistic replicas of documents and impersonate identities to open new fraudulent accounts. ...