The federal government mandates enterprises across various industries to implement anti-fraud measures to protect the valuable information and assets they keep. If they fail to safeguard their services, they can lose their clientele and revenue and face penalties from regulatory bodies.
In recent years, criminals have become more creative in devising schemes to infiltrate systems. They are more persistent with new methods of circumventing weak security measures. Many fraudsters try to impersonate someone else and use fake IDs to trick companies into thinking that they are the real identity owners.
With these proliferating threats, firms must adopt new technology that can perform efficient and accurate ID verification to weed out criminals and ensure that they are interacting only with legitimate individuals.
Businesses can hire companies that offer identity as a service (IDaaS) to shore up their identity and management functions. These vendors provide an array of products for verifying individuals’ identities and authenticating the credentials they submit.
Working with IDaaS providers enables firms to harness the latest anti-fraud technologies such as mobile facial biometrics, which performs additional security checks like liveness detection to indicate a real person’s presence.
Deploying effective identity authentication solutions enable enterprises to improve their security measures, enhance customer experience, and comply with regulations. For more information on the matter, an infographic from Ipsidy is provided below.