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How important is document verification to prevent online fraud?

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The process of document verification involves performing several validity checks on the identification documents provided by the customer to authenticate their identity.


Financial institutions can identify and reduce the risk of false identities and identity theft with the help of document verification services driven by AI. It is capable of detecting minute alterations or fabrications in a single ID photo. The MRZ code, fonts, microprints, and holograms are all examined by the document verification system. Customers can instantly authenticate themselves by sharing a snapshot of their ID documents, such as passports or ID cards, from their computers or mobile devices.


Document Verification Process


Document verification is the process of confirming a document’s legitimacy. The most trusted and credible documents are frequently those that have been issued legally, such as a driver’s licence, bank statements, or other official records. As part of the process, carrying components, typefaces, badges, and watermarks are all authenticated. Additionally, the identical information retrieved from the machine-readable zone of the document is compared to the identifiable data from the ID’s commencement.


With the use of digital onboarding, applicants for document verification are no longer need to be physically present while their documents are being verified or while their face is being matched to a picture ID. With the use of mobile image capture software, the candidate quickly and easily uploads a selfie and a photo of their government ID.


Types of Document Verification


Depending on the criteria, there are many types of document verification, as listed below:


To verify a person’s credentials and information on the claimed educational credential.


Verification of Education Certificates


This verifies a person’s credentials and educational background in accordance with their declared credentials. This involves:


  • The Responsible Authority providing a copy of the grade sheet
  • Dates when I was there
  • Graduation year
  • Number of grades/percentages on the roll/register/Hall Ticket


Verification of Professional Licenses/Certificates


Validating the length of the license or certification’s grant, such as the CPA, CA, LLB, or CFA, as well as the license’s current status.


Pre-employment Background Check


This verifies a person’s credentials and information about previous employment. The following steps must be taken:


  • Time spent working
  • Compensation for holding position/s
  • Motives for leaving
  • Condition of rehiring
  • Monitoring and assessing performance The applicant’s attitude, honesty, and character, as well as any notable accomplishments


Address Validation


Verifying an address helps confirm the candidate’s or applicant’s place of origin and other important details. The following information will be made clear:


  • Evidence of residence
  • Type of Accommodation Status of Residence (Ownership/Rental) Length of Stay


Importance of Document Verification


During the client onboarding process, document verification, which examines the legitimacy of ID documents, can help businesses quickly and safely authenticate new clients.


Theft, identity fraud, and breach challenges are a constant threat to institutions and organizations using the web platform. Document authentication is crucial to reducing these hazards. Before you could access your account, you would need to provide identification verification. This information is contrasted with preceding data. If the information and the paperwork do not match, the process will end. In a nutshell, document verification aims to eliminate all possible hazards.


A number of potential validating checks that evaluate the ID and confirm its legitimacy while comparing it to data in a system are used to validate documents. Here are a few illustrations of validation checks:


Data Correlation


On the front and back of a number of government forms of identification, there is relevant information. To confirm that the provided ID is legitimate and refers to a particular individual, an identification service must connect that data.


Database Verification


Verification systems frequently have access to various national data sets (or secured versions of these datasets) in order to validate these documents. Verification systems would use official databases to verify the scanning of a federal ID.