In the fincrime post of Apr 18 it said. Not be possible to signup with a fake ID. I question this as I have recently experienced two Monzo accounts being used for fraud.
Thus on what basis is it not possible to sign up with fake ID. What stops change of face in a passport photo to match that being photographed by the phone when creating an account. Else the account being used immediately identify fraudsters.
Banks have access to HM Passport Office passport database and the DVLA driving licence database to cross reference accounts with passports/driving licences. Banks also have technology to detect subtle alterations to a passport image hence why they want a photograph taken within the app not just an uploaded one. They also have facial recognition to detect people attempting to play the system by changing their appearance.
Edit: I forgot also that there are the credit reference agencies to check against and verify details stated within the application.
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