123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Hardware-Software >> View Article

Id Verification Explained

Profile Picture
By Author: Eldon Broady
Total Articles: 70
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

If you have ever been a victim of cold calling, then you can imagine the frustration of dealing with a person whose identity you do not know. While on a personal level, you only get annoyed and block the address or number, on a business level, there are larger implications of not engaging an ID verification service.

With the increase in online transactions and terrorist activities, identity verification is part of the anti-money laundering compliance measure embedded in Know Your Customers (KYC).
Through a verification service that demands documentary evidence such as government-issued IDs, driving licenses, and passports, a business is assured that the customers are who they say are. Some situations demand knowing a person's identity; there are various methods to do it as detailed below.

Methods of Identity Verification

Electronic Identity Verification

While photos have been used to prove your identity, they are not reliable because images can be easily altered. However, video ID is a reliable way in which a person still has to hold an identification document and show it on both sides. The video has to be validated, along with the documents and contact details. Streaming video has been flaunted as the most secure identity verification.

Alternatively, an ID verification service could also include facial authentication and electronic signatures. Most banks use electronic signatures and biometric procedures, while other sensitive areas would call for digital facial recognition and identification systems.

Documentation

An identification document should match the person carrying it as his own. Most have enhanced security features to ensure that they have not been tampered with, and the system analyzes them.

Mobile ID

You may wonder why you will be asked for your mobile phone number when signing up for a new service. Mobile phones provide other information such as your name, address, geolocation, and billing information.

Knowledge-Based Authentication

You might have been asked to pick a security question when signing up for an email account. These are used to confirm the person's identity in case the need for such an occasion arises.

When to Use an ID Verification Service

Suspicious Activities

If a transaction is flagged as suspicious, the owner of the account has to be verified. It could be too many password changes or attempts to change login details because it may appear like the person does not have permission to do so. By conducting identify verification, your account remains secure and prevents losses that would incur in case of unauthorized cases.

Onboarding

A new customer has to provide personal information. An ID verification service ensures that you are not allowing a criminal to transact with you, resulting in heavy fines. Since it is the first time, a rigorous verification procedure must be performed before allowing the prospective customer to have an account.

Author Resource:-

Eldon Broady writes about identity verification and business verification service. You can find his thoughts at screening solution blog. For more information on AML compliance, visit the website.

Total Views: 42Word Count: 513See All articles From Author

Add Comment

Hardware/Software Articles

1. Wordpress Is A Supreme Web Development Platform
Author: Swayam Infotech

2. Americommerce Sale 2021
Author: marshal mathers

3. Education Erp Software
Author: Ankit chauhan

4. What Are The Biggest Pain Points Of Using Graphql?
Author: Eldon Broady

5. How To Create Invoice/estimate
Author: Ronny Jones

6. Global Industrial Salt Market
Author: aarti

7. Microsoft 365 Business Basic Promo Code For One Month Free Trial With Lots Of Discounts
Author: Christine Bleakley

8. Why Use A Wireless Barcode Scanner?
Author: Vishal Jain

9. The Best Id Verification Software
Author: Eldon Broady

10. Different Languages To Add To Your Magento Store
Author: Maulik Shah

11. Best Delivery Route Planner App Must Be Used To Ensure Doing Business Smoothly!
Author: John Pearson

12. How To Write The Perfect Linkedin Messages To Get A 50%+ Reply Rate?
Author: Marya Lizabeth

13. How Huddle Rooms Help? What Equipment You Need To Make Them A Success?
Author: Prysm Systems

14. How To Use Automation Tools To Extract Linkedin Contacts And Use Them For An Effective Email Marketi
Author: Marya Lizabeth

15. What Is The Best Software For Podcasters?
Author: Barry Elvis

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: