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8 เมษายน 2563
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Online ID Verification - the Quickest Way to Authenticate Users
In this time of modernization, individuals and businesses are quickly advancing towards digital cyberspace. Companies and firms are making efforts to shift their business operations online. If technology is facilitating businesses then, similarly, it is easing the money making process for criminals as well.

This expansion of the internet is grabbing the attention of many criminals out there, providing them with opportunities to exploit businesses and carrying out frauds and scams. Since the internet is available worldwide, people all around are exposed to threats by cybercriminals and scammers.

As per Federal Trade Commission (FTC), over 3 million identity theft and fraud complaints were received in 2018, out of which 1.4 million were fraud-related, and 25 percent of those cases reported losing money. In the same year, it was reported that consumers lost about $ 1.48 billion in fraud complaints, an increase of $ 406 million from 2017.

PwC's bi-annual survey of business crime reports that fraud committed by customers tops the list of all crimes experienced ( at 35%), up from 29% in 2018. Businesses report that customer fraud and cybercrime are the most disruptive of all the crimes. The annual fraud causes a loss of billions of dollars worldwide.

KYC Regulations to Stop Fraud

Law enforcement agencies and financial regulatory authorities collaboratively worked to introduce KYC and AML regulations to fight criminals and scammers. All financial institutions and banks are bound to adhere to these regulations because they have a greater threat of attacks by criminals. Businesses and individuals are also encouraged to comply with these guidelines to minimize the threat of scams and fraud. 

KYC or Know Your Customer is the process of customer identity verification to minimize risk. The key purpose is to establish whether the person actually is who he / she claims to be or not. KYC is a complex and time-taking process;and customers do not have the time to deal with the government offices or financial institutions for their verification procedures.

Therefore, some companies have designed technologies that Verify ID of customers through the use of artificial intelligence (AI) technology. These systems seamlessly increase the accuracy and effectiveness of the identity verification process while reducing time and energy.
AI systems are much more precise and efficient in terms of identity validation, as compared to humans. 


There are many types of online verification services that are available in the market. They can even be customized according the businesses' needs and requirements. Some of them are listed below:

Face Verification

The utilization of AI systems to detect facial structure and features for verification purposes.

Document Verification

The utilization of AI systems to assess the authenticity of various documents to prevent fraud.

Address Verification

The utilization of AI systems to verify addresses from user-documents to minimize the threat of attack by fraudsters.

2-Factor Authentication

The use of multi-step verification to enhance the protection of your accounts by adding another security layer, usually involving your mobile phone.

Consent Verification

The use of predetermined written consent by users to onboard only legitimate individuals.

In this era, businesses are facing new challenges everyday. It needs to be understood that in order to effectively cater to these challenges, businesses must continuously equip themselves with modern ways and technologies.

Online Age Verification is a new innovation that is not only required but is necessary to ensure long term business sustainability. It is without any doubt a fact that businesses online ID verification is the quickest and the most reliable method to authenticate your customers.



Create Date : 08 เมษายน 2563
Last Update : 8 เมษายน 2563 14:55:30 น. 0 comments
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