5.4 million consumers were victims of identity theft or fraud last year globally . That’s up by 16% from the year 2015. Identity fraud and its related vulnerabilities are becoming increasingly rampant due to weak ID verification processes across companies. It is indeed important to keep identities safe and on-board employees, customers, vendors and partners with genuine identities only.
Identity verification should ideally be the first check in background verification. Many employers opt for conducting instant identity verification as a mandate, to fight the multi-faceted nature of identity fraud. You can verify your subject using any national identity document, but are you doing it the right way?
Next time you conduct an Identity verification, use the below checklist for mitigating risks:
1. Prepare a list of acceptable ID proofs
2. Establish authenticity of the National ID documents using Identity Checks*
3. Verify 2 or more ID proofs together to re-establish trust
4. Thoroughly cross check the personal info of the individual/entity
Post identity verification, one may confirm ID verification results by conducting other major background checks.
AuthBridge’s state to art verification platforms determine a candidate’s authenticity, confirming his personal details quickly. It will surely help in building trust of employers, just at a click. This not only simplifies verification but also streamlines the background screening process to be faster, efficient and effective.
*AuthBridge offers instant National ID checks for Aadhaar and PAN. Voter ID, driving license and Passport can also be verified quickly. We also support national Identity verification using national ID of your respective country across 140 countries.
Source: CNBC article dated 1 Feb
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