AuthenticID Velocity Checks detects fraudulent activities - Help Net Security

AuthenticID’s Velocity Checks solution is biometric-based velocity check, adding a new weapon for organizations to identify both individual bad actors as well as fraud rings using multiple sets of identity documents with the same headshot. Velocity Checks uses sophisticated image comparison algorithms to analyze ID and selfie headshot images submitted by users and compares them to an organization’s database of stored images from prior users and visits. AuthenticID released Velocity Checks, a new tool that integrates with its comprehensive identity verification and fraud prevention platform. AuthenticID will continue to develop new algorithms and future updates to Velocity Checks to ensure new fraud techniques can be identified and stopped. Further, the Identity Fraud Taskforce at AuthenticID will drive innovation forward in its technology to ensure companies can stay ahead of changing fraud techniques and regulatory requirements while delivering best-in-class customer experience. Fraudsters can use different names with the same image so that identical visual data (like headshots or biometric information) is paired with multiple identity documents or account registrations with differing names. Velocity Checks also offers organizations the ability to analyze trends, including the frequency of a user triggering identity verification actions. In doing so, the solution can detect fraudulent activities where a single person uses multiple identities, especially in a short span of time.

This Cyber News was published on www.helpnetsecurity.com. Publication date: Thu, 03 Oct 2024 07:43:05 +0000