Read More about fast-id page

Shufti globally launches webinr-icon - a new kind of identity solution!

Shufti globally launches - a new kind of identity solution!

Read more

A 2024 Overview of Identity Document Forgery

n-img-2024-overview

As technologies like artificial intelligence and machine learning have advanced, they have significantly aided businesses in creating accurate workflows and efficient data processing, resulting in better outcomes. However, technological advancements have also provided cybercriminals with more sophisticated mechanisms to carry out fraudulent activities. Fraudsters can use stolen information to pose as legitimate entities, deceiving business owners and committing criminal acts; identity fraud has become a significant threat companies face in our complex digital landscape. 

The highest number of identity theft cases reported to the FTC in 2022 were related to credit card fraud, with over 440,000 incidents, as per the “U.S. News & World Report Identity Theft Survey 2023”. In the first half of 2023, 560,000 identity theft cases were reported in the United States, an alarming figure that poses significant consequences for individuals and organizations alike. Of all the states, Washington, D.C., Nevada, Georgia, Florida, and Delaware had the highest rates of reported identity theft.

A significant number of the reported cases involved document fraud, including document fabrication and solicitation These cases can have a devastating financial and psychological impact on victims and can have long-term consequences for organizations in terms of reputation and customer trust. Therefore, taking proactive measures to protect oneself and organizations from identity theft is essential.

What is Document Forgery: The Common Types 

Identity document forgery is a serious crime that can have severe consequences and raise regulatory issues for businesses. By creating or altering a document, criminals misrepresent governmental/legal facts and deceive businesses for personal gain. It is now crucial for companies to be aware of document forgery and utilize robust forensic document analysis solutions, as criminals can not only create a fake document from scratch but also alter an existing document and manipulate it for their gain. 

Document forgery is directly related to identity theft, as cybercriminals require data from legitimate sources to fabricate a document successfully. A criminal can infiltrate various businesses and steal identity data or use a phishing attack to extract identity data from an individual, which can then be used to create a fake identity. The stolen data is primarily used to create bogus bank statements, passports, and other legal documents, as they aid criminals in other criminal activities such as money laundering. A criminal can acquire a passport using stolen identity information and establish fake shell companies in the victim’s name. For example, an individual could obtain the personal data of a U.S. citizen and then produce a counterfeit Bulgarian passport for as little as $20.

  • Complete Fabrication 

This process involves creating a document from scratch, including fake signatures, logos, stamps, and text to imitate legitimate documents. Once a criminal successfully perpetrates a phishing attack, the stolen user data can then be used to create fraudulent passports, driver’s licenses, or bank statements. Fabricating complete documents is a serious issue, as it can facilitate heinous crimes like human trafficking and aid in evading government tax by laundering the illegal proceeds of activities such as drug trafficking.

  • Counterfeiting 

In counterfeiting, an authentic ID document is fabricated from scratch to grant criminal access to legal government sources or a user’s personal accounts. Using this technique, a fraudster may create fake bank documents and credentials, which they can then use to access a user’s finances. The consequences of such an act can be severe, both financially and legally, which is why it is essential to remain vigilant and protect your personal information at all times.

  • Digital Manipulation

Cybercriminals now utilize more sophisticated methods for online document forgery, which involves the use of digital data manipulation This technique can be used to modify existing documents, create fake documents from scratch, or even create documents with false information, which makes it essentially hard for individuals to differentiate between real and fake documents. The technique can be used to create fake accounts for illegal activities such as money laundering and illicit financing. Fundamentally, this technique can be used to commit fraud in almost any industry by creating fake accounts.

  • Patchwork Forgery 

This document forgery technique involves the creation of a totally new document by utilizing multiple documents from legitimate users. Simply put, the patchwork technique allows criminals to fabricate a new identity by manipulating users’ existing data. A significant application of this technique also lies in using a victim’s personal data to perform legal actions illegally for personal benefit without the consent of the actual user.  For example, a genuine signature might be copied onto a fabricated ID card, or a bank statement may be altered with information from another document.

A 2024 Overview of Identity Document Forgery info

Document Fraud in 2024: Identifying Key Influencers

There has been a significant increase in digital document forgeries, with national IDs being the top documents targeted, accounting for a significant portion of document fraud, while the number of physical counterfeits has been declining. The increased reliance on digital documents has provided cybercriminals with an open opportunity to leverage consumer data for illicit purposes, leading to an increased risk of identity theft and ultimately facilitating the forgery of documents. Organized crime organizations are more sophisticated than ever, with advanced networks established on robust technological infrastructures precisely placed to aid criminals in committing fraud more effectively. 

  • Rise in Low-Code Document Manipulators 

Cybercriminals, particularly fraudsters and scammers, leverage available technologies to enhance their fraud-perpetrating mechanisms. Unfortunately, the advent of low-code and no-code platforms has facilitated the proliferation of fraudulent activities by non-professional criminals. Specifically, they target unsuspecting elderly individuals who often lack the technical knowledge to differentiate between authentic and fabricated digital documents. These low-code platforms are designed with a primary focus on drag-and-drop mechanisms, which enable efficient manipulation of various digital documents such as images, PDFs, and more in significantly less time.

  • High-Value Document Fraud 

As the trend towards digitization continues to grow, a majority of business processes are now carried out electronically. Consequently, important financial, legal, and personal documents have also been digitized and can now be easily accessed via cloud-based infrastructure. Although opting for the digital existence of documents provides users with heightened security against various threats, the possibility of fabrication and document forgery still poses a significant risk. There is a significant risk that high-profile companies and users may fall victim to a cybersecurity breach that could result in the theft, alteration, or fabrication of important documents.

  • Increased Regulatory Scrutiny 

Globally, the heightened risk of money laundering and terrorist financing activities being facilitated through the use of fraudulent documents has raised serious security concerns. As a result, regulatory bodies have taken steps to combat these illicit activities and neutralize their impact. Global regulatory bodies such as the Federal Trade Commission (FTC) and the FBI’s Internet Crime Complaint Center (IC3) impose strict regulations on businesses regarding document verification. Companies specializing in identity verification (IDV) and document forged forensic verification are being endorsed by these regulatory bodies to improve the verification processes for effective threat prevention. 

Shufti’s Document Verification for Advanced Security 

Shufti offers IDV solutions that help businesses verify individuals’ identities, check legal documents, and comply with KYC/AML regulations. Our automated verification solutions help companies reduce costs on security and compliance by verifying users effectively at the time of onboarding, ultimately yielding better results that can be utilized to further upscale the business. With an accuracy of upto 99%, our document verification solutions verify documents within seconds, allowing businesses to comply with KYC/AML regulations, reduce client abandonment rates,  boost conversions, and create a convenient user experience

Still unsure about how robust document verification provides better security?

Talk to us

Related Posts

Blog

Halloween and the Spooky Scams – How identity verification helps?

Halloween is just around the corner and so do the scammers ready to exploit the opportunity. Whic...

Halloween and the Spooky Scams – How identity verification helps? Explore More

Blog

NFTs and Surging Crimes – How Shufti’s AML/KYC Solution Can Secure The Digital Ecosystem

Non-Fungible Tokens (NFTs) are by far one of the most popular topics right now. Artist Mike Winke...

NFTs and Surging Crimes – How Shufti’s AML/KYC Solution Can Secure The Digital Ecosystem Explore More

Blog

Age Verification: Use Cases, Significance and Regulations

This pillar post talks about the significance of digital age verification, how it works, what are...

Age Verification: Use Cases, Significance and Regulations Explore More

Blog

NFC – Building New Grounds for Identity Verification

Near Field Communication (NFC) is based on the famous RFID technology. In 2002, Nokia was the fir...

NFC – Building New Grounds for Identity Verification Explore More

Blog

Surging Crimes in NFT Marketplaces – Setting New Security Standards Using Shufti’s AML Solution

The emergence of Non-Fungible Tokens (NFTs) has created new investment opportunities for business...

Surging Crimes in NFT Marketplaces – Setting New Security Standards Using Shufti’s AML Solution Explore More

Blog

Know Your Patient (KYP) – the next big thing in health care

Its high time the hospital industry must think beyond providing just giving medical assistance to...

Know Your Patient (KYP) – the next big thing in health care Explore More

Blog

Designing a Risk-free Customer Onboarding Flow for the Freelancing Industry

Freelancing websites saw an increased demand during the pandemic, and the trends continued to ris...

Designing a Risk-free Customer Onboarding Flow for the Freelancing Industry Explore More

Blog

Stablecoin Market and the Role of AML in Safeguarding Digital Finance

With the rapid expansion of the cryptocurrency market, stablecoins have swiftly emerged as a popu...

Stablecoin Market and the Role of AML in Safeguarding Digital Finance Explore More

Blog, Identity & KYC

KYC Compliance – Strengthening Fraud Prevention Across the Globe

Know Your Customer (KYC)  The widespread availability of the internet has made our world more con...

KYC Compliance – Strengthening Fraud Prevention Across the Globe Explore More

Blog

First-party, Second-party and Third-party Frauds – How to Stop them?

Most businesses don’t lose customers because of poor services but due to weak security measures. ...

First-party, Second-party and Third-party Frauds – How to Stop them? Explore More

Blog

Addressing Regulatory Compliance in Online Gambling with Effective AML Screening

The internet is a key risk element for gambling because it gives the user a sense of obscurity, t...

Addressing Regulatory Compliance in Online Gambling with Effective AML Screening Explore More

Blog

UAE’s Crypto Landscape – Eliminating Financial Crime to Ensure Regulatory Compliance

The UAE is the Middle East’s rapidly growing cryptocurrency hub that is experiencing a heated-up ...

UAE’s Crypto Landscape – Eliminating Financial Crime to Ensure Regulatory Compliance Explore More

Blog

Blockchain and Identity Theft: Potential Challenges and how to Tackle Them

Blockchain has become increasingly popular because of its potential to provide secure transaction...

Blockchain and Identity Theft: Potential Challenges and how to Tackle Them Explore More

Blog

How Online ID Verification Supports Age-restricted Sellers?

The online stores selling age-restricted products like gaming services, medicine or drugs are in ...

How Online ID Verification Supports Age-restricted Sellers? Explore More

Blog

Transaction Screening Vs Transaction Monitoring | What’s the Difference?

Transaction screening and transaction monitoring are critical in money laundering, counter-terror...

Transaction Screening Vs Transaction Monitoring | What’s the Difference? Explore More

Blog

KYC Regulations Across the Globe | An Updated Guide 2023

 The global financial industry finds it hard to meet compliance and secure sensitive cus...

KYC Regulations Across the Globe | An Updated Guide 2023 Explore More

Blog

Top 10 Forged ID Documents on the Dark Web in 2023

As criminal activity increases every year, the massive amounts of data being uploaded to the inte...

Top 10 Forged ID Documents on the Dark Web in 2023 Explore More

Blog

7 Trends in Identity Verification Solutions to look for in 2020

Internet is an anonymous space where people can hide their identities and come up with bizarre ps...

7 Trends in Identity Verification Solutions to look for in 2020 Explore More

Blog

Age Verification Laws and Regulations Worldwide

The world has become increasingly digital, making it easier to access age-restricted products, se...

Age Verification Laws and Regulations Worldwide Explore More

Blog

Japanese FSA to Beef Up AML Systems from Fiscal 2021

Growth in South Asia has far exceeded that in any other country over the past few years and digit...

Japanese FSA to Beef Up AML Systems from Fiscal 2021 Explore More

Blog

5 reasons why passwords are no more safe – What’s next?

Online platforms are using passwords to secure the privacy and data of their users – but ar...

5 reasons why passwords are no more safe – What’s next? Explore More

Biometric Technology, Blog

4 Reasons why Facial Recognition is Better at Biometric Verification than Fingerprint Scans

Biometric verification is smartphones was introduced nearly five years ago when iPhone launched i...

4 Reasons why Facial Recognition is Better at Biometric Verification than Fingerprint Scans Explore More

Blog

Key Takeaways From Shufti’s ID Fraud Report 2021

The year 2021 was all about determining and reducing the growing number of biometric identity fra...

Key Takeaways From Shufti’s ID Fraud Report 2021 Explore More

Blog, Online Marketplace

Why age verification matters to online businesses?

Identity verification services are fast becoming a business norm for companies that are enthusias...

Anti Money Laundering, Blog, Business Technology, Financial Crime / AML, Identity & KYC

Global Economies are joining forces with FATF against money laundering

Financial Action Task Force (FATF) has been very keen on eliminating financial crime (money laund...

Global Economies are joining forces with FATF against money laundering Explore More

Blog

Online Identity Verification – How to Secure Online Gaming & Gambling Platforms

Online gambling is the way to go for betting enthusiasts nowadays and brings both convenience and...

Online Identity Verification – How to Secure Online Gaming & Gambling Platforms Explore More

Blog

Know Your Player | Onboard Verified Gamers and Scale Globally

In today’s digitised gaming world, player verification stands as a cornerstone for onboarding leg...

Know Your Player | Onboard Verified Gamers and Scale Globally Explore More

Blog, Identity & KYC

Identity Verification – Key to Eliminate BEC Fraud

Fraud prevention and cybersecurity are the major concerns of the companies in the digital era. No...

Identity Verification – Key to Eliminate BEC Fraud Explore More

Blog

Banking Scams: Top 5 Predictions and How to Stay Safe in 2023

The most recent fraud statistics will make you uncomfortable. Fraud cases are rising – relentless...

Banking Scams: Top 5 Predictions and How to Stay Safe in 2023 Explore More

Blog

An Insight into Global Regulations for the Cryptocurrency Sector [2022 Update]

With emerging technologies continuing to proliferate faster and rapid digitization all around us,...

An Insight into Global Regulations for the Cryptocurrency Sector [2022 Update] Explore More

Blog

AML Compliance – Global Watchlists that Businesses Need to Consider

Coordinated sanctions after the Russian invasion of Ukraine have made the headlines due to their ...

AML Compliance – Global Watchlists that Businesses Need to Consider Explore More

Blog

The Future of Customer Onboarding Post-COVID-19 Pandemic

The COVID-19 pandemic has changed our lives to the fullest and businesses have suffered a lot as ...

The Future of Customer Onboarding Post-COVID-19 Pandemic Explore More

Blog

Russian Sanctions Evasion – Is the Art Industry the Next Target for Money Laundering?

As regulatory authorities are seizing the yachts and real estate belonging to Russian oligarchs, ...

Russian Sanctions Evasion – Is the Art Industry the Next Target for Money Laundering? Explore More

Biometric Technology, Blog

How Liveness Detection is an apt Answer for Facial Spoof Attacks?

The world went haywire on the launch of the new iPhone X; well, to be honest, when does it not? H...

How Liveness Detection is an apt Answer for Facial Spoof Attacks? Explore More

Blog

Brexit to Change Sanction and Money Laundering Regulations in 2021

In 2016, the United Kingdom decided to part ways with the European Union (EU). After its preparat...

Brexit to Change Sanction and Money Laundering Regulations in 2021 Explore More

Blog

A Comprehensive Guide to Understanding Ultimate Beneficial Owners (UBOs)

Identifying UBOs and their control over a business is crucial for financial firms to meet regulat...

A Comprehensive Guide to Understanding Ultimate Beneficial Owners (UBOs) Explore More

Blog

Divergent AML/CFT Rules and Cross-border Payment Challenges – What FATF Has to Say?

While addressing AML/CFT requirements for cross-border payments, the global financial watchdog, F...

Divergent AML/CFT Rules and Cross-border Payment Challenges – What FATF Has to Say? Explore More

Blog

Age Verification: Use Cases, Significance and Regulations

This pillar post talks about the significance of digital age verification, how it works, what are...

Age Verification: Use Cases, Significance and Regulations Explore More

Blog

Is NFC Really the Future? The Mystery Solved!

We arguably live in a world that is now dependent on technology. From online payments to online e...

Is NFC Really the Future? The Mystery Solved! Explore More

Blog

What You Need to Know About Switzerland’s Crypto AML Rules by FINMA

Switzerland is historically famous for being a global hub for gold. However, the new digital gold...

What You Need to Know About Switzerland’s Crypto AML Rules by FINMA Explore More

Blog

Passport Verification: Preventing Document Forgery and Identity Theft

In our current era of modern interconnection, global travel has become more accessible than ever,...

Passport Verification: Preventing Document Forgery and Identity Theft Explore More

Blog, Identity & KYC

Age Verification – Ultimate Online Protection for Minors

The rapid increase in the use of the internet is raising some major concerns for parents regardin...

Age Verification – Ultimate Online Protection for Minors Explore More

Blog

Fighting ID Fraud in the Healthcare Industry With Online ID Verification

While the coronavirus outbreak has emerged with a lot of challenges for the healthcare industry, ...

Fighting ID Fraud in the Healthcare Industry With Online ID Verification Explore More

Blog

Intelligent Character Recognition (ICR) Software – One step ahead of OCR

What is ICR? Intelligent Character Recognition (ICR) is an extended technology of Optical...

Intelligent Character Recognition (ICR) Software – One step ahead of OCR Explore More

Blog

Building Trust in Health and Telemedicine Services With Shufti’s Facial Biometric Verification Solution

Telecommunication technology in the healthcare industry is already widely used and is expanding t...

Building Trust in Health and Telemedicine Services With Shufti’s Facial Biometric Verification Solution Explore More

Blog

Don’t Need AML Compliance? Think Again!

The majority of the businesses believe that they do not need to comply with AML regulations at al...

Don’t Need AML Compliance? Think Again! Explore More

Blog

A guide to choosing the right ‘Digital Identity Verification Solution’

Living in the digital era, everything is now just a click away. From customer onboarding to onlin...

A guide to choosing the right ‘Digital Identity Verification Solution’ Explore More

Blog, Fraud Prevention

Internet of Things: B2B IoT Segments about to hit $300 Billion by 2020

The Internet of Things is growing exponentially with respect to its usage and capabilities. A who...

Internet of Things: B2B IoT Segments about to hit $300 Billion by 2020 Explore More

Blog

FATF October 2019 Plenary – Here is What You Need to Know

Financial Action Task Force (FATF) President Xiangmin Liu, chaired the first meeting from 16-18 O...

FATF October 2019 Plenary – Here is What You Need to Know Explore More

Blog

10 High-Risk Jurisdictions for Money Laundering According to FATF

Innovations like stablecoins and non-fungible tokens (NFTs) created quite the hype in the past ye...

10 High-Risk Jurisdictions for Money Laundering According to FATF Explore More

Blog

May 2023 Recap: The Latest Global Regulatory Updates

Technological advancements have paved the way for scammers to perpetrate various financial crimes...

May 2023 Recap: The Latest Global Regulatory Updates Explore More

Blog, Business Technology

How Blockchain is Making the World a Better Place

Verify identity: The whole world lives online now. Yes, that’s an exaggeration but we are gradual...

How Blockchain is Making the World a Better Place Explore More

Blog

Age Verification Laws and Regulations Worldwide

The world has become increasingly digital, making it easier to access age-restricted products, se...

Age Verification Laws and Regulations Worldwide Explore More

Blog

DoorDash Falls in the pit of Data Breach – Affects 4.9 Million Users

Security breaches are increasing in number with every passing day. This keeps on happening. It wo...

DoorDash Falls in the pit of Data Breach – Affects 4.9 Million Users Explore More

Blog

Halloween and the Spooky Scams – How identity verification helps?

Halloween is just around the corner and so do the scammers ready to exploit the opportunity. Whic...

Halloween and the Spooky Scams – How identity verification helps? Explore More

Blog

KYC/AML Compliance – A Safeguard Against Money Laundering in the NFT Market

The instability in the non-fungible token (NFT) sector can be seen in the record sales of $25 bil...

KYC/AML Compliance – A Safeguard Against Money Laundering in the NFT Market Explore More

Blog

Fighting Deepfakes with Fool-Proofed Identity Verification Systems: How Shufti Can Help

Undoubtedly, 21st century is the most innovative time period in human history. With every passing...

Fighting Deepfakes with Fool-Proofed Identity Verification Systems: How Shufti Can Help Explore More

Blog

Which KYC Solution is Right for Your Business?

KYC solutions are vital for assessing consumer risk and a legal necessity for complying with Anti...

Which KYC Solution is Right for Your Business? Explore More

Blog

Shufti donates 10 million free ID verifications to help fight fraud amid COVID-19

Coronavirus took the world into clutches forcing people to adopt isolation and businesses are com...

Shufti donates 10 million free ID verifications to help fight fraud amid COVID-19 Explore More

Blog, Business Technology, Fraud Prevention

How Identity Theft Protection Can Increase Your Profit!

Identity theft protection is something that is not only a concern for ordinary users anymore. Bus...

How Identity Theft Protection Can Increase Your Profit! Explore More

Blog

The Crucial Role of Ongoing Monitoring in Risk Mitigation

The nature of a business-to-clientele relationship subjects organisations to significant risks. F...

The Crucial Role of Ongoing Monitoring in Risk Mitigation Explore More

Blog

Know Your Driver – Urgency of Identity Verification for Mobility service Providers

Scams have been at the forefront whenever a new tool is made available. The same goes for ride-sh...

Know Your Driver – Urgency of Identity Verification for Mobility service Providers Explore More

Blog, Reg Tech

How Identity Verification Services make Regulatory Compliance Easier?

Financial institutions and banks have ended up in a loop of dumping billions of dollars because o...

How Identity Verification Services make Regulatory Compliance Easier? Explore More

Blog

Biometric Authentication: The Importance, Use Cases & Myths

Today’s business owners rank security among the highest priorities. As hackers continue to ...

Biometric Authentication: The Importance, Use Cases & Myths Explore More

Blog

AML Screening – Identifying Financial Criminals in the Art & Antiquities Sector

There is no doubt in the fact that art and antiquities are one of the sectors responsible for bil...

AML Screening – Identifying Financial Criminals in the Art & Antiquities Sector Explore More

Blog

How ID Verification can Help you Boost your Revenue in 2019?

For years now banks have been using laid back and inconvenient methods for ID verification of cus...

How ID Verification can Help you Boost your Revenue in 2019? Explore More

Blog

Shahid Hanif’s Take on Shufti’s Five-Year Journey of Winning the Fight Against Fraud

The financial sector constantly faces new and emerging challenges in fighting sophisticated fraud...

Shahid Hanif’s Take on Shufti’s Five-Year Journey of Winning the Fight Against Fraud Explore More

Blog

How ID Verification Helps in Fighting Digital Scams?

ID VERIFICATION: Digital scams are common phenomena and it affects all types of businesses in eve...

How ID Verification Helps in Fighting Digital Scams? Explore More

Blog

Curbing Real Estate Crimes with AML Screening Solutions – How Shufti Can Help

In course of history, money laundering has always remained most complicated issue for governments...

Curbing Real Estate Crimes with AML Screening Solutions – How Shufti Can Help Explore More

Blog, Financial Crime / AML

South Korea want Crypto Exchanges to adopt Digital KYC and AML Compliance

South Korea is soon going to adopt regulatory measures to bring in crypto exchanges under regulat...

South Korea want Crypto Exchanges to adopt Digital KYC and AML Compliance Explore More

Biometric Technology, Blog

4 Reasons why Facial Recognition is Better at Biometric Verification than Fingerprint Scans

Biometric verification is smartphones was introduced nearly five years ago when iPhone launched i...

4 Reasons why Facial Recognition is Better at Biometric Verification than Fingerprint Scans Explore More

Blog

Forex Market – Are there Enough KYC/AML Regulations to Keep Perpetrators at Bay?

Regulatory pressure, hefty penalties and increasing criminal instances are some risks associated ...

Forex Market – Are there Enough KYC/AML Regulations to Keep Perpetrators at Bay? Explore More

Take the next steps to better security.

Contact us

Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

Contact us

Request demo

Get free access to our platform and try our products today.

Get started