Biometric technology is the security measure that verifies the identity of the individual based on their unique biological features. The biological features include eye retina, voice, fingerprints, etc. Facial features are also considered as a unique biological feature and analysing the facial points cal help to verify the identity of the individual. Online face verification is the rising trend in the biometric authentication industry and it is widely adopted by various industries to onboard customers, security protocols, regulatory compliance, phone unlock etc.
Online face verification has major potential for businesses especially those businesses that are required to comply with the regulatory measures. Face verification is the perfect solution to ensure seamless KYC and AML compliance. Other than that, face verification also helps to ensure smooth customer onboarding and minimized fraud for the entity. According to a study, 74% of the customers stated that they feel safer and more secure with businesses that employ biometric verifications.
One of the major use cases of biometric face verification is fighting all types of fraud. Read this blog further to find out about the types of frauds and how online face verification help to fight these frauds.
Identity Theft
Criminals steal the identities of the people to acquire the benefits in their stead. The identity can be stolen by physically stealing the ID card and drivers licence, or using sophisticated cyberattacks to steal the credentials. Identity theft is the most commonly used crime that business face. The criminals either use stolen identities to get their hands on government benefits like unemployment claims or insurance, or they can also steal the tax refund. Medical identity can also be stolen through this. Businesses are required to verify the identity of all their clients to ensure that no identity thief is taking advantage of them.
Fake Identity
Criminal sometimes makes fake identity cards that are not authorized by the government and neither do they belong to anyone. Such identity cards are extremely alike the authentic identity cards and the human eye cannot detect the difference. How AI-powered software solutions can detect the fake identity within seconds as the AI trained with various types of ID documents to know which is authentic and which is fake.
Synthetic Identity
This type of identity is based on a mixture of someone’s real and fake information. According to the payment frauds insight, synthetic identity fraud is skyrocketing. The synthetic identities are made by using the identities of minors and the elderly as these types of IDs are not frequently used. Synthetic identities are easily passed through the inadequate security protocols where the identities are only checked manually. Unlike fake identities, these are a combination of both fake and real identities which makes it harder to detect and capture. A robust and thorough solution should be used to capture the synthetic identities.
Face Recognition System
Face recognition is the fastest-growing biometric technologies in these times. It is extremely easy to use and results are reliable and authentic. Online face verification along with document verification has proven to be the most suitable solution. It implies AI technology to ensure the accuracy of the system. Here is the process discussed in detail how online face verification is used to fill all the gaps that criminals manipulate for their benefits.
Face Matching
The face recognition online process screens the person’s face and then matches it against the photo on the provided identity documents. If the criminal is using the fraudulent D, online face verification would match the face and detect the fraud. Criminal cannot steal a person’s face even if they can steal their identity and the photo on the ID will remain unmatched.
Liveness Detection
This process ensures the live presence of the person. This process requires the end-user to send a video of themselves and the video is matched against the ID document. Through liveness detection, online face verification can detect if the video is old or is captured from another screen. This type of spoof attack is easily captured as well.
3D Depth Perception
These are the microanalyses and will detect even minor attempts of fraud. Even minor facial features differences are detected. Skin texture analyses are done as well to ensure the identity of the person. If a person is wearing a 3D mask or 2D mask, 3D depth perception will also capture it. Photoshopped images are also detected by this process. This ensures the complete authenticity of the online face verification system.
