Ondato report identifies fake printed ID documents as a favorite tool for crypto fraud

A new report from Ondato, a KYC and AML compliance management firm based in London, finds that digital identity fraud in the crypto sector is most commonly committed using fake documents.

Ondato’s Identity Fraud Report for Crypto Industry 2023 says that 42 percent of criminals committing crypto fraud use printed fake ID documents, most commonly passports, at 38 percent. Identity cards were almost as common, at 36 percent. Driver’s licenses made up 26 percent of attempts.

Other than printed …

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