Identity Verification Blog
The e-commerce industry has become an easy target for online fraudsters. They are using various new techniques to obtain buyers’ crucial information and perform different fraudulent activities. If you’re into retail e-commerce business and want to know about the importance of identity verification in the retail and ecommerce industry to minimize online frauds, read this…
Wondering what is a machine-readable zone (MRZ)? Do you want to know its role in identity verification? If the answer to these questions is “yes.” Read this blog until the end. MRZ or Machine Readable Zone is a particular area in an I.D. document (passport specifically) that encloses the document holder’s personal data. Nowadays, almost…
Optical Character Recognition is revolutionizing the businesses of almost all types. In every industry, it plays a crucial role in improving productivity, accuracy, customer experience, and data security. Wondering what exactly it is? Read this post! With emerging technologies, online fraud vulnerabilities are limited to digital assets of businesses. Still, they also target the sensitive…
The sharing economy has many benefits – from minimizing environmental effects to offering self-employment opportunities to developing business possibilities. However, this industry has some challenges, as well. In this blog post, we will discuss those challenges and discover how identity verification can help them. So let’s get started. The sharing economy has brought significant changes…
Identity checks are essential in modern times for any business. Not only do they help you determine if the information provided to you by your clients or customers is legit or it relates to a real person but also ensure that your prospective clients are not engaged in any fraud activities. Additionally, you avoid hefty…
CDD or Customer Due Diligence is an ideal way to determine whether or not a potential customer is worthy. It is a crucial element of managing your risk and protecting your business against financial crimes. If you want to know everything about the Customer Due Diligence, read this post until the end. To keep a…
Identity verification is more relevant than ever in the financial services industry. Not only its ideal solution to keep the identity-related frauds at bay but also prevent the fines for non-compliance with KYC/AML. Read this post until the end if you want to know more about the financial services industry, it’s problems (related to cybercrimes),…
A lot of people don’t know that their digital identity could be vulnerable to identity theft. A cybercriminal might use your crucial information for various illegal acts. If you want to know what digital identity is, what can put it at risk, and how you can protect it, read this blog post till the end.…
The online gambling industry is increasing across the globe. Still, it has to face numerous troubles such as money laundering, credit card frauds, chargeback abuse, and more. Fortunately, identity verification solutions with face verification features can help gambling businesses eliminate such problems. Let’s get to know how identity verification can play an essential role in…
Facial recognition has turned into a popular tool to authenticate the identity of an individual. In modern times, this technology has been used in various sectors and industries to prevent ID fraud and identity theft. If you want to know more about facial recognition and how you can implement it into your business, read it.…
Fake IDs have become a real problem. They are being used to defraud individuals and businesses. Still, they’re also aiding crimes like cyber theft, human trafficking, child labor, terrorism, and more. This post will guide you on how to spot a fake ID by combining technology and human efforts. Identity document forgery has turned into…
iDenfy welcomes Ripon Bhowmik, a business development professional. Ripon serves as the Director of Business Development in the South Asia Region at iDenfy, in charge of building the company’s global sales organization and business expansion. A Business Development Professional Ripon has been working in business development for most of his career. He comes to us…
Over the last few years, the crypto market has come a long way. More and more people are investing in digital currencies, and some are also looking to launch their blockchain-based projects. Every day we see a new crypto project being covered by crypto news blogs and websites. In this blog post, we are going…
The emergence of deepfake technology has become a significant concern for individuals and businesses. In recent years, it has become the favorite tool of fraudsters for obtaining personal information for identity-related frauds. This post will explain what deepfake is, how it is used, and what you can do to prevent it. Fraudsters are becoming innovative…
Image manipulation in identity verification has become a significant concern for businesses across the globe. In this post, we will find out what exactly is image manipulation, and how technologies like AI, CNN, and Special CV filters can help us detect this manipulation. Identity theft is a serious issue all over the world. Every year,…
The terms identification, verification, and authentication are often used interchangeably. However, in reality, these are three different approaches that play a crucial role in keeping your systems and resources safe from identity thefts and data breaches. In this post, we will explore these terms and understand their roles in identity verification. Undoubtedly, digital transformation has…
Identity management is an ideal way to identify, authenticate, and authorize people to access specific systems or services. However, it has some security and privacy issues. Fortunately, blockchain technology can be a solution to those issues. This blog will guide you on what exactly Blockchain technology is, and how it can give power to identity…
Even if identity theft is a rising worry, it has a solution. This article will guide that artificial intelligence (AI) and machine learning is an ideal way to minimize identity theft risk. Identity theft has turned into big trouble all across the globe. Over the past few years, the world has witnessed several unexpected identity…
How to choose the best identity verification provider for my company? What they can offer for my business? Primarily, they provide a platform for businesses to onboard customers remotely. They can also help minimize fraudulent practices, a consequence of which is also the mitigation of risks that crop up during online transaction processing. With identity…
If you think biometric face recognition systems are not vulnerable to spoofing attacks, you’re mistaken. Over the past few years, biometric face spoofing attack have increased significantly all across the globe. Nowadays, hackers are trying everything possible (from 3D mask to printed photos) to bypass biometric face authentication systems. Even they’re using photos from Facebook…
Biometric authentication is indeed an advanced technology that takes into account the biometric data retrieved from a physical user to cross-match these details against a particular device or security area which the person is trying to access. Suppose you want to fully secure an area or a particular digital asset from unauthorized personnel, your best…
What is AMLD5 (Anti Money Laundering Directive 5)? Why AMLD5 is important and necessary? Danske Bank case, Panama papers, and paradise leaks are some of those money laundering scandals that have taken the entire world by storm. Such revelations of fraud have compelled governments and regulatory authorities across the globe to take rigorous steps to…
Over the past few years, money laundering has turned into a disaster for firms and institutions associated with the financial sector. As a result, governments have been actively looking for innovative ways to fight against money launderers. They are putting various policies in place to prevent money laundering called anti-money laundering policies. In this post,…
What is KYC? For anyone who is not familiar with this acronym – Know your customer regulation. How well do you know your customers and are you sure that they are not linked with any criminal or fraudulent activity? KYC refers to a process verifying the identity of your customers, be it beforehand doing business…
What is identity verification, and how it works? It is a question which often comes to our minds in nowadays world. What is Identity? An identity can be a series of specific claims that describe an individual. They may be comprised of fingerprints, date of birth, ethnicity, and other permanent traits. Traits that are semi-permanent might…