One of the greatest ways to fight fraud would be to take a proactive approach. Yet some business professionals feel that fraud detection software is the only real type of software tool available (or necessary) to fight fraud. Certainly, detection through monitoring can play a significant role in your anti-fraud program, however it puts you in a reactive mode. Instead, you must take efforts to better know the people and companies with whom you choose to accomplish business. Put simply, do that which you can to help prevent fraud from occurring in the first place. Better anti-fraud programs will combine ongoing due diligence with monitoring, and the place to begin is with identity verification tools.
There are a selection of reasons that you have to know your customers. First, it is just a good business practice. You can help prevent being associated with deceptive individuals, and that can save you money. This kind of relationship can cause direct losses from the particular business deal, but it can also tarnish your company's name, sending your good customers scurrying to the competition. Second, knowing your web visitors allows you to concentrate on those products or services that best meet your customers' needs. By doing those activities well, you can build (or enhance) a competitive advantage. In addition, some companies face regulatory requirements to recognize their customers. As an example, certain financial institutions are at the mercy of regulations calling for Customer Identification Programs (CIP), and certain financial institutions are at the mercy of the newest Identity Theft "Red Flags" Rules. Many banks collect documents like a birth certificate, passport, driver's license, or several other government-issued ID to help establish a customer's identity. The chance is that personnel may not be able to spot counterfeit documents or fraudulently obtained physical documents. Ensuring your employees are well trained is critical, but what are the results when an unfamiliar identification document is presented to your employee? Clearly, the chance of fraud is higher, and some fraud begins by having an employee unknowingly accepting counterfeit documentation.
One of the most popular ways to augment identity verification processes would be to compare data provided by the potential customer against public records to see if there are any discrepancies. This "non-documentary method" could possibly be very time intensive or even for software solutions that can help you streamline the process 먹튀검증. In reality, using identity verification software, this job can frequently be completed within seconds.
Identity Verification Software
Identity verification software is made to help you quickly and effectively verify the identity of your prospective retail and commercial account holders. This is your proactive step to preventing fraud: recognize the deceptive individuals before the fraud occurs! ID verification software also can help you investigate possible fraud scenarios by helping you confirm whether your customer is the true owner of a Social Security number (SSN) and by detecting potential synthetic IDs. As well as the potential for identity verification solutions to confirm a genuine identity, in addition, it may be configurable to perform a custom hotlist check for individuals that could seek to disguise their identity by having an alias or different address.
