Securing Enterprises with Online Document Verification System

Cloning someone’s data is illegal, but trading it on the dark web worsens things. Surprisingly, physical copies of cloned documents are available on these sites for more money than digital ones. In June 2022, a real Maltese passport went on sale for a whopping $6500, whereas the average cost of a passport from other countries is roughly $3500. Moreover, a Minnesota driver’s license is anticipated to cost over $100 for digital versions.

This is where online document verification is handy, as it helps businesses prevent ID and data theft. Let’s dive deeper into this blog and see what document forgery is.

What is Document Forgery?

Document forgery is the process of generating, changing, or misusing real records to bypass security measures. This term is also known as document fraud. Different penalties apply for document forgery depending on the circumstances and document type. Almost every country considers it one of the most serious crimes to fabricate or misuse official documents, for instance, identity cards, vehicle registration, and driving licenses. Now let’s move on to the classes of documentation scams.

Classification of Document Fraud

Interpol fraud has further 3 categories. For example:

  • Counterfeit Documents: Regenerating a legal document with no authority consent.
  • Forged Documents: Intentionally changing the formal document’s information and giving it a more authentic look. Many changes can be made in pages, records, photos, entry/exit stamps, or visas to create forged papers.
  • Pseudo Documents: Cloning official documents, including driving licenses and vehicle registration, which Government sectors do not recognize.

Step-by-Step Guide to Verify Documents

Verification of documents checks whether everything is authentic or bogus. This process precisely looks for details like 

  • Fonts
  • Security features
  • Signatures
  • Watermarks
  • Holograms

Here’s how a document-checking service does its work:

Step 1: Document Gathering and Data Collection

The user’s identification documents must be uploaded as a photograph. The algorithms completely examine the paper and decrypt any encrypted information. 

Documents must first go through pre-processing to get them ready for the following stage. Examining the edges of documents, aligning photos, and enhancing their brightness and color is necessary for proper data extraction.

Step 2: Data Extraction

The necessary info is extracted from the records, and any excessive one is deleted. The intelligent engine pulls each and every detail using Optical Character Recognition (OCR). 

Step 3: Document Verification

To accurately verify data, it is cross-matched with the database. The following verification checks are performed: 

  • Facial recognition
  • Cropping and Edge Detection
  • Front-to-back correlation
  • Cross-checking with international data
  • Color space examination
  • Comparison of selfie and ID card picture

Step 4: Impacts Generated

The outcomes of the documentation are given to the customer and stored in the back office for the future.  

Perks of Having an Online Document Verification Service

Enterprises are always in search of techniques to prevent illegal activities. Moreover, they always want to stand out and maintain their customer experience. Thus, artificial intelligence-powered documentation verification is their first choice as it delivers instant return on investments, a reliable onboarding process, and allows them to build a great reputation.

  • Instant ROIs

Businesses or enterprises having automated document checking are more likely to get better ROIs compared to conventional technology. Moreover, they can also reduce ownership costs.

  • Reliable Client Onboarding

Customer onboarding becomes quicker with the help of online document verification

as customers do not have to wait in huge lines anymore. They just need to enter their details, and the AI-based documentation quickly verifies their legitimacy. 

  • Adherence to KYC/AML

Document verification services force enterprises to adhere to  KYC/AML rules to avoid significant fines. 

  • State-of-the-Art Customer Experience

In their efforts to surpass competitors, companies may have an impact by offering a better customer experience. The reputation of a business is mostly determined by how satisfied customers are. This is where an automated document verification process comes in helpful. When a business complies with KYC/AML guidelines, customers have confidence in it. They immediately convey a positive brand image, aiding the business in boosting sales and competing in the competitive global market.

The Growing Need for Online Documentation

ID and data theft cases are becoming a critical hazard, costing corporations a huge sum. Up until mid-2022, more than 2 million fraud cases were reported, including ID theft. Online document verification is an essential solution for companies to confirm the validity of a customer. This helps businesses and allows them to perform smooth customer onboarding.

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