Digital Document Authentication to Verify Identity Card

Meta Description: By document authentication, the person’s identity can be verified through authenticating their identity card or government-issued identity documents.

Digital Document Authentication to Verify Identity Card

With the regulatory authorities making strict regulations, businesses, banks, airports, e-commerce platforms etc. are all required to verify their customer’s identity through their ID documents. However, it is not an easy task for business organizations as the identity verification process can compromise their customer experience and data security. Digital document authentication can be a solution for all these problems as it can assist the business entities to comply with their regulatory requirements while giving their customers an excellent experience and ensuring data security. With this blog, let’s dig deep into document authentication and how it can streamline the ID document verification process. 

Identity Verification and Its Need

Impersonation of someone without them knowing is a crime. Fraudsters are known for faking to be someone else and use their identity document to gain their benefits. This can cause harm to the victim financially and mentally. There are various methods of identity theft fraud that criminals use to impersonate people. The most common method of identity theft is stealing their identity card information including their SSN number and either using a stolen document or forged document. Through this, they can access their bank accounts and steal their money, steal their medical information or even file for a tax refund. 

The USA has recently gone through an extreme identity theft strain during COVID-19 due to unemployment claims. Identity theft can be punished under federal or local law. Congress has already passed the law against identity theft in 1998. The legislative measure is known as the Identity Theft and Assumption Deterrence Act which “knowingly transfer[ring] or us[ing], without lawful authority, a means of identification of another person with the intent to commit or to aid or abet, any unlawful activity that constitutes a violation of Federal law, or that constitutes a felony under any applicable State or local law.” 

United States Department of Justice declared fifteen years of imprisonment for this offence along with a penalty and freeing of assets and personal property that was used to conduct the criminal activity. 

The cases of identity theft are rising every day. FTC (Federal Trade Commission) received up to 1.4 million cases of fraud and a lot of people lost money because of that. The amount of loss was reported up to $1.48 billion. 

Document Authentication to Stop the Fraud 

In order to curb these financial crimes, the financial regulatory authorities like FATF, FINMA, FinCEN, FCA, FINTRAC, AUSTRAC, EU, Central Banks, etc, have set up KYC and AML compliances to ensure the identity verification procedure is adopted all the business entities and financial institutions. Through these regulations, a business can perform proper due diligence of its customers and document authentication assists in that. By document authentication, the person’s identity can be verified through authenticating their identity card. 

Most of the institutions perform these authentication measures in-person but now with the digital transformation, the business entities require a more fast-paced method of customer’s identity verification. Hence, a more digital approach is required for document authentication of identity cards. 

Digital Document Verification Solution 

The AI-powered software solution can help businesses perform the document authentication process online. The customers can onboard themselves online and still get their identity verified. This reduces the customer’s need to go to a location and wait in long queues to get their identity verified. 

The AI-based software can extract the document through the OCR engine and then analyze the extracted data for its legitimacy. Since the AI is trained with different documents, the software knows how to detect fake, stolen, or forged document type. Only the legit customers will be able to access the platforms. If there is a spoof attack occurring, the system will alert the business entity or government organization of the possibility of identity theft. All the customer has to submit the picture of their identity card and the document authentication solution can analyze it to authenticate the identity of the customer. With this technology, customers can get on board from anywhere and in no time. The AI-powered solution is trained on various document types making it more accurate and effective than the in-person method. Business entities must embrace this digital transformation for secure operations.