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Document Verification Solution- An Optimized Way to Combat Identity Theft

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As the universe is getting advanced, the crime rate is also accumulating which becomes the headlines for the contemporary era. All businesses are scared of theft, regarding the personal credentials of their customers. It scares all systems which are working for the safety of the personal data of clients, including their transactions and account details on a regular basis. The only objective of fraud is to steal the personal data of clients and use it for their own self.  To save such frauds, work is going on for the development of new solutions like document verification for all institutions, especially to secure the customer’s personal data and their money.

What are Document Frauds?

No doubt, in the previous age there were many reports related to fake documents but nowadays the cases are growing day by day as compared to the past, only because of this pandemic. It is seen that all businesses are working digitally while staying at home within their comfort level. This is a global concern now for the reason that scammed identity documents are being used for their illicit activities. All these fraud cases come into being while enrolling a client online which raises the risk of deception. But the companies have introduced document authentication services that permit the verification of credentials of clients on time through a digital platform. With such security measures, the reports of personator’s can be diminished particularly. 

AI-Technology in Authentication of a Document

With the integration of artificial intelligence (AI) the genuineness and accuracy in document verification can easily be identified. Banks who are having full detail of their customers use this AI-based solution. Typically, banking sectors only require identity documents of customers while enrolling them, in which a photo of a person is cross-matched with the face of the end-user. AI is used for accurate and detailed examination of clients which also access the authenticity of the data. This technology is unique in providing benefits to all banking institutions for the prevention of scams. Sometimes financial departments lose their interest in the security of their customers which leads them towards a big loss in the shape of money laundering  For such reasons, online document verification portals are performed by authoritative organizations to know the genuineness of the clients. 

A Process to Verify Documents 

The steps that are performed for the online verification of documents by using machine learning algorithms, such document checks include;

Authentication of Documents 

The process of document identification is performed in detail to check the genuineness and the authenticity of the documents of the clients. It checks whether the submitted information is real or fake.

Checking of Format 

For the checking of edited and formatted documents AI algorithms are used, which extracts the fake documents such as those that are cropped or photoshopped to show their authenticity. 

MRZ Code Verification

There is an MRZ (machine-readable zone) code on documents that are issued by the government that is needed for the verification of clients. If anybody makes changes in the documents and decodes this code, it will be noticed by AI. So, in this process of verification, the MRZ code is identified for the authentication of the customers.

Document Attestation

When the technology was not developed much and the verification of the documents was done traditionally which has chances of errors and mistakes, that is the reason why this authentication process is not preferred. Furthermore, manual checking can not detect minor details like edited and altered edges. But yet with the convenience of machine learning algorithms, the small details are observed without any mistake and this provides accurate and authentic results.

Checking of Rainbow Patterns and Hologram

Documents consist of rainbow patterns and holograms which are according to the countries specifically. In this process, AI helps to identify genuine documents by examining holograms and rainbow patterns.

The document verification process makes it easy for all institutions to identify fake documents by only installing APIs on their platforms.  OCR technology helps in scanning and examining the information from documents and changing it into digital format. The data is eliminated if the documents are not matched with the provided credentials.  

Final Thoughts

Concluding the discussion, it is confirmed that the document verification services in all institutions are compulsory to combat fraud cases and money laundering. It performs strict security checks on all online businesses in real-time. 


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