HomeBusinessDocument Verification Services - Against Identity Fraud

Document Verification Services – Against Identity Fraud

Identity fraud is an issue that has perplexed all business sectors across the globe. Financial institutions, airports, online stores, and the travel industry want to take control of the issue by using advanced digital solutions. They can use identity verification to deal with the risk but it is not enough. Moreover, companies have to comply with KYC/AML regulations to avoid fines from global watchdogs. In this context, the application of document verification services can facilitate the clients in their objectives. It will help them reduce identity fraud as well as adhere to AML/CFT guidelines actively. It will improve clients’ experience along with security around sensitive customer data.


Document Verification Services: Why Identity Theft Cases Must be Dealt With?

Identity theft is an illegal act. Identity theft means that someone has stolen the identity of another individual for the sake of gaining benefits or harming the reputation of the genuine identity. In the age of the digital revolution, fraudsters can use multiple ways to obtain their goals. For instance, they can steal their identity and then start posting rude comments under the posts of their connections. They can even start posting controversial content that can ruin the mental health of the original user. 


Document Verification System: The Legal Action Against Identity Fraud


  • As per the Identity Theft Act of 1998, identity theft is a great offense that is punishable by law
  • According to the Department of Justice in the USA, the crime has the repercussions of more than 10 years in prison along with the seizure of properties that facilitated the offense


The above laws helped the governments in their fight against identity theft but there is still a long way to go because according to recent reports, it was found that there were above one million cases of impersonation in America that cost victims around $2 billion. These are undesirable consequences. Thus, the application of document verification services is mandatory.


Document Verification Services: Its Role in Reducing Digital Scams

Global Authorities (FINTRAC, FinMA, and FATF) have introduced AML/KYC regulations to minimize digital scams around the world. They demand every business to adhere to them or else they face heavy financial penalties. According to AML/KYC guidelines, it is important for businesses to conduct due diligence processes (CDD or EDD) on their client’s profiles. The application of CDD/EDD depends upon the risks associated with clients’ profiles. If there is a high risk, the EDD procedure is the best because it goes in-depth that the CDD procedure does not cover. 


Coming toward the KYC procedure, it was recommended for financial institutions to counter scam attacks. Digital advancement has made the process pleasant and frictionless for businesses as well as individual consumers. The combination of artificial intelligence increases the efficiency and accessibility of the service to users all around the world. It means that end-users can perform their business through any electronic device and get their document verification results within a few seconds. 

The Working Mechanism Behind Document Verification Services

The use of document verification service along with artificial neural networks enable the clients to benefit from the technology through the company’s websites and digital applications. 


  • The software asks the new clients to submit their selfies for real-time identity verification and documents for in-depth authentication
  • The online OCR technology extracts the relevant information from the image within a few seconds
  • The software analyzes the data and checks its authenticity and originality of the data. In the case of fabrication, the system rejects the application. If the client has provided corruption-free documents, they will see the final verification message and onboard the organization’s database
  • The application of CDD/EDD depends upon the risks associated with clients’ profiles. If there is a high risk, the EDD procedure is the best because it goes in-depth that the CDD procedure does not cover. 

ID Document Authentication: Special Note for Clients

Clients should note that the document verification service only works with government-issued records. They have special features that the software checks during the verification procedure. The AI-powered document verification services checks for the special ink, paper, holograms, and rainbow features in the documents. Sometimes, fraudsters can manipulate the document at the pixel level but only the AI-backed document verification services can catch this kind of manipulation. 

Final Thoughts

To sum up, document verification services technology has advanced features that enable it to distinguish between fabricated documents and genuine client records. The software has desirable accuracy rates that make it a scalable and compatible solution for modern-day companies. Moreover, it saves time as well as the valuable resources of the organization. The clients have the facility to use document verification technology for the safety of their homes. The document verification services solution can even perform verification on various types of records, even those having multiple types of languages. The digital service can easily facilitate its clients in minimizing identity theft cases along with money laundering and financial terrorism cases.


Sam Harison
Sam Harison
Sam Harison has written about self storage and moving for many years, making her our storage expert. In addition to being a native English speaker, he has an English and Linguistics degree as well as having published over 100's of articles on moving, storage, and home organization.


Please enter your comment!
Please enter your name here


Popular posts

My favorites

I'm social