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Unmasking the Truth: A Cutting-Edge Solution for Foolproof Verification
A recent study conducted by UK-based Juniper Research predicts that global merchant losses from online payment fraud in 2023 are expected to reach $38 billion!
The significant factor contributing to fraudsters’ ongoing success in exploiting vulnerabilities is their relentless adaptation to global conditions. Fraudsters are adept at staying informed about changes in the global landscape, whether they are related to technological advancements, economic conditions, or societal trends. This surge can be attributed to fraudsters taking advantage of the digital acceleration witnessed during the pandemic and its aftermath, as well as a vast pool of potential victims who might be more susceptible due to their unfamiliarity with digital transactions and technology in general.
In the face of this growing threat, businesses must adopt a proactive approach by implementing strong security measures. Key steps include incorporating multi-factor authentication, verification systems, and transaction monitoring. An essential aspect of this effort involves enhancing deepfake detection technology, which plays a pivotal role in establishing a contemporary and highly efficient verification and anti-fraud system.
In line with this pressing need for improved identity security, eBOS offers the WiseBOS eCV solution, an optimal tool for verifying the authenticity of Government-Issued Identification Documents. By leveraging WiseBOS eCV’s advanced capabilities, including cutting-edge deepfake detection, businesses can ensure stringent verification procedures and protect themselves and their customers from the escalating threat of fraudulent activities.
The WiseBOS eCV offer two layers of protection:
Electronic Identity Verification (eIDv):
Leveraging advanced technology, eIDv enables businesses to instantly authenticate their customers’ identities in real-time. This solution can check the authenticity of government-issued identification documents, such as Identity Cards, Passports, Driving Licenses, plus more than 20 other types of documents.
Electronic Face Verification (eFACEv):
Harnessing the cutting-edge capabilities of a cascade of neural networks, Artificial Intelligence and Machine Learning, eFACEv revolutionises online identity verification through the seamless integration of biometrics and liveness detection. This powerful solution ensures an ironclad confirmation that the individual depicted on the ID and the one in possession of it are unequivocally identical.