How to prevent
ID fraud?

How do we detect fake ID documents and prevent identity fraud?

ID fraud has become the third largest criminal industry in the world and costs the global economy billions of dollars every year. The latest explosion of online registration services has made companies need to be extra vigilant in their customers’ onboarding processes.

It is not just simple counterfeits to get over some small sums that are reported, but there are usually significantly larger and more advanced uses for these scams, some examples:

  1. Staying in a country illegally
  2. Working under a false identity
  3. Escaping from an arrest
  4. Stealing someone’s identity for profit
    • Creating a Bank ID
    • Order goods or services
  5. Create a fake online identity to gain access to company and accounts

Background

The countries, authorities and organizations that issue identity documents have always used a variety of security techniques to combat identity fraud. It’s about the type of paper they are printed on, different types of inks that look different in different lights and environments, ultraviolet signs and much more. Fraudsters are developing more sophisticated technologies and companies need to be vigilant and protect themselves against fraud.

Leading development

It is imperative to integrate products, procedures and services to combat and stop these attempts at fraud. 365id has for many years been a leader in ID verification through our cloud-based system. Our ID security service is an efficient way to identify and verify ID documents through a number of different controls.

365id can detect a fake ID document in real time with the market’s most flexible and cost-effective solution.

Checklist to stop ID fraud

  1. Request identity documentation
  2. Evaluate the person, how is the person perceived? Stressed? Impatient? Nervous?
  3. Look at the customer’s face then compare with the ID document
  4. Scan the document in the 365id Scanner and wait for the results
    • At green carry on
    • At red ask for another document
  5. Close the case

As you noticed, it is not enough to just look at the person and the document or only to put in the ID document in the scanner. In fact, the ID document may be stolen, and thus a genuine document, but the person using it is not the correct person. There are several pitfalls.

The KYC process (Know your customer), which consists of knowing who your customer is and who you are talking to, must now be integrated into the customer journey in a smooth and simple way. An automated ID verification service improves your customer relationship and makes the process both safe and secure, for all parties.

The common ground is that the document verification and ID checking is using the services 365id provides.