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Online Face Verification – A Process for Businesses to Deal With Identity Fraud

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The development of technology has led to a rise in online scams. Scammers are using emerging innovations across the globe to commit crimes like money laundering, corruption, hacking, and financing terrorism. Identity fraud is one of the most severe frauds affecting people and financial institutions worldwide. More effective techniques, such as ID document verification and biometric authentication, have been adopted to prevent this fraud. Biometric verification uniquely identifies a person using their fingerprints, facial characteristics, or eyes. One type of biometric authentication is face recognition. It is a technique used to confirm a person’s identity based on their face.

Online Face verification to Deter Fraud

The criminal justice system provides the best example of online face verification technology adoption. Some infamous crimes include bank robberies, terrorist attacks, money laundering, deception for financial gain, and murders. These crimes happen nearly everywhere around the globe. Most fraudsters are typically unknown to law enforcement agencies.

Which Sectors can use Online Face verification?

Online face verification is now possible in almost every industry because of facial recognition technology. The following are some well-known industries:

  • Social Media Firms

Social media firms like Facebook are using online face verification. When someone posts a group photo to Facebook, their face recognition system recognizes the faces and prompts them to tag the individuals in the image. The Facebook face recognition system states that it has a 98% accuracy rate.

  • Mobile Manufacturing Companies

The use of online face verification technology by mobile manufacturing companies is on a large scale. After the iPhone X, Apple became the first company to utilize this technology. The manufacturers of Android-based smartphones have also begun using this feature. Apple estimates that one in a million people can unlock an iPhone using someone else’s face. 

  • Shopkeepers in shops

All over the world, people frequently steal products from stores. Store owners can identify customers’ faces using surveillance cameras and face recognition software. Finding suspicious individuals and potential shoplifters is one goal.

  • Marketing Companies

Marketers frequently consider variables like gender, ethnicity, and age when targeting a specific audience for a product or idea. Facial authentication technology allows for the recognition of faces even at public events like concerts.

Online Face verification and Conventional Verification Process

The verification of a person was earlier verified using a variety of approaches. Most conventional methods rely on labor-intensive, incorrect, and wasteful human verification. It is challenging for traditional technologies to verify thousands of faces manually daily. However, an online face verification system that uses AI can authenticate a face as accurately as possible in under a second. By digitally identifying customers, the KYC face verification technology ensures that only genuine clients pass the verification processes. 

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The Pros and Cons – Online Face verification

Face recognition is a technological advancement whose effectiveness astounds everyone. But like any other technology, it has the following advantages and disadvantages.

Pros:

  • Improved Security

It is possible to increase security by using a face verifier system. It can be used at the highest levels, such as the federal or local government, to punish terrorists or other notorious criminals. An online face verification system is operating to lock down mobile phones and other personal devices and secure homes. 

  • Preventing Bias Checkpoints

Most law enforcement agencies, including the police, have to deal with opposition from the general public to security checkpoints. A digital system is preferable to a human invasion to identify suspects in crowds. Instead of using security checkpoints, face recognition technology can identify criminals using surveillance cameras.

  • Speedy Processing

Businesses that use facial recognition systems benefit from the fact that it only takes one second to recognize a face. To prevent cyberattacks, companies need quick and secure technologies. Verifying someone’s identity is quick and easy with facial recognition technology.

 

Cons:

  • Customers’ Privacy

Governments can use the online face verification technique to find criminals, but it can also be used to watch over regular citizens at any time.

  • The Chances of Error

Online face verification data can contain errors, leading to someone being held accountable for crimes they did not commit. 

  • Huge Data Storage

Face recognition systems use AI to produce accurate results because they require massive data sets to “learn” from past performance. Such enormous data sets require extensive data storage.

 

Conclusion

Online face verification is a biometric authentication technique that uses an individual’s facial traits to confirm their identity. It can recognize faces in real time and in films and photographs. Any firm or corporation, whether involved in security, finance, education, or marketing, may use it. Facebook and other online social media companies use this algorithm with a 98% accuracy rate. Similar to other technologies, online face verification has advantages and disadvantages. Data breaches and the possibility of inaccuracy are seen as drawbacks, whereas better security and faster execution are seen as benefits.

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