KYC standards are a critical method for online companies to verify the identity of a user, and to ensure that legitimate customers are interacting with their site. However, fraudsters are becoming more adept at bypassing flawed KYC controls, while customers are increasingly frustrated by the friction that identity verification introduces into their interactions with sites and businesses. As a result, it’s vital to adopt proactive fraud prevention approaches (and technology) to counteract flaws in KYC systems while maintaining customer experiences. In this session, Brittany will share real-world examples from the deep and dark web of how fraudsters target merchants with poor KYC processes, and ways to use behavioral signals and machine learning to reduce friction for the customer while still deterring fraudsters. A recent case involves cybercriminals suggesting the best ways to pay for illegal drugs based on how easily the Know Your Customer (KYC) process can be circumvented. Another fraud forum documents how cryptocurrency wallets and exchanges are tested to identify vulnerabilities that make cashout scams easier to commit. Lastly, Brittany will demonstrate how fraudsters target platforms with poor KYC, such as BNPL providers, to commit money laundering. She will also provide tactical guidance on how businesses can layer KYC technology on top of their fraud prevention systems to both meet their identity compliance needs, and create a trusted, frictionless experience for their users.