Face Identification – Vital Solution for Businesses to Prevent Identity Frauds
What is Face Identification?
Meta Description: Face identification, a biometric measure makes for secure business by eliminating the usage of fake identities, helping them gain the trust of customers.
It’s a known fact that all kinds of businesses, especially financial institutions, constantly face the threats of a crime involving identity fraud and the losses that are linked with them. However, where there is a crime, there are also countermeasures to prevent it.
In the olden days, technology was not so advanced, so the measures taken to prevent identity fraud were not very effective. Now though, that is not the case. Face identification has become the ultimate solution for organizations to secure their onboarding systems, filtering out identity thieves.
Face identification is a biometric process used to scan the faces of potential customers of a business and run the captured details through secure databases. This technology is capable of differentiating the unique traits of personality in each person. Apart from face recognition, biometrics also comprise retina scanning, fingerprints, and even voice recognition.
According to research findings, 85% of people find biometrics to be a secure way of making payments. For instance, face identification is a feature in today’s smartphones and is commonly used to unlock, and also to make online payments. The ease that face identification provides to customers means they just have to appear in front of a camera, is the reason for their increasing trust.
It’s quite common to steal someone’s identity by using their ID card or driving license. When a business has such a customer involved in their system, the finances, and the overall value of the business is at risk.
A common offense is to fake identity using self-generated ID cards, belonging to no one and never issued by any government. Sometimes it’s not easy for humans to detect that a document is fake, but using the latest technology it is possible to not only detect the presence of fake elements, but also reject the tampered documents.
The ideas of criminal minds surpass the common persons’ perceptions. This is the case with ghost identities, where the ID documents in use belong to someone who has died. These ways are used to get insurance and pension benefits.
Synthetic identity is kind of a hybrid between fake and ghost identities, as both original and made-up information is used to create synthetic ID documents. This is, in fact, one of the biggest concerns in the US. A lot of cases involving synthetic identities using the ID documents of old people or abandoned children affect the financial institutions, causing damage to the reputation of companies.
Identity fraud is directly linked with a financial crime is the reason to fake someone’s identity. In many instances of financial crime, the institutions are adversely affected as they have to pay huge amounts in fines for breaking AML (Anti Money Laundering) laws. Obviously, no organization would willingly get involved in such criminal activity, but that’s the art of lawbreakers, they make the process appear legitimate.
For any business, customer onboarding is the basis of all other processes. If that isn’t done right, then problems stay with the business from the beginning to the end. Therefore, facial recognition technology is the definitive solution to identity fraud, as it diminishes the issue before it even starts to take shape.
With it’s constant enhancements, face identification has become an efficient and convenient way to filter out the wrongdoers. The process and the technologies used in face identification are so advanced that nothing is left to chance.
The first process in face identification is screening and matching the face of the potential customer with the pre-verified data from their ID documents. Criminals can make changes to ID documents but can’t change their faces, so this process proves to be quite effective in catching those unmatched faces.
In case the criminal plans to use an image to somehow make it through the face matching process, there’s no chance in proving themselves legitimate in liveness detection. Liveness detection technology as part of the face identification process determines whether an actual person is appearing in front of the camera, or a photo is being presented. Minor details of the person like blinking of eyes, and other gestures are checked using this process.
Similarly, 3D depth perception allows the checking of unique features and depth of the face at different points. Face identification using 3D depth perception even checks the edges and contours of the face, so there is absolutely no chance of using a photo here.
To sum it up, face identification is definitely the epitome of technological advancement when it comes to verifying identity. It has made everyday processes much faster, and businesses more reliable.