The on-chain history of NFTs significantly reduces the risk of fraudulent transaction records but doesn't eliminate it entirely. Blockchain's transparency ensures all transactions are publicly recorded and immutable, allowing anyone to verify an NFT's provenance and ownership history. This discourages fake transactions, as discrepancies are easily detectable. However, risks like wash trading—where users artificially inflate prices through self-transactions—or stolen NFTs being resold persist. Smart contract vulnerabilities or off-chain manipulations (e.g., fake metadata) can also undermine trust. While on-chain data provides a robust audit trail, complementary measures like reputable marketplaces, thorough due diligence, and advanced analytics are crucial to further mitigate fraud risks.