Security | Threat Detection | Cyberattacks | DevSecOps | Compliance

Identity verification helps prevent fraud by requiring would-be fraudsters to verify that they are real people and who they say they are. But what about a user who opens an account with their legitimate ID and selfie and then hands the keys to a bad actor? That’s exactly what happens with identity muling, and this type of second-party fraud can be difficult to detect.

In April 2026, Mexican President Claudia Sheinbaum announced that individuals will no longer need a Federal Taxpayer Registry (RFC) number to open an N2 or N3 bank account. As the country continues its transition to cashless payments, this move has the potential to bring more than 32 million unbanked, informal workers into the financial system. But it doesn’t come without risk.