Your verified customers are for sale: The rise of account farms
Sifted 1 month ago 50
Account farms are selling consumer and business user accounts—often bundled with supporting documents—through dedicated websites and Telegram channels. More than 100 standalone sites and 50+ Telegram channels were found, with average listing prices of about $344 and hundreds of thousands of listings affecting 3,000+ institutions. Institutions now need stronger KYC/KYB defenses that scrutinize proof-of-address and proof-of-income documents and use document fraud detection plus transaction monitoring to catch behavior tied to account farming.