The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

    n-img-roi-cross

    Before You Go, Schedule Your Free Demo Today

    Valid Invalid number


    Note: Fields marked with an asterisk(*) are mandatory.

    n-exit-img-roi-cross

    Thank you for your demo request

    We appreciate your interest and look forward to discussing how our solution can meet your needs. Expect to hear from us shortly with scheduling details.

    Close

    Age Verification – Does Your Business Need It?

    Online Age Verification Secure

    Several businesses are unaware of the significance that age verification holds for their business. UK gambling firms paid £19.6m in penalties due to money laundering and under-age gambling conducted on their platforms. 

    Regulatory authorities are introducing stringent Anti Money Laundering (AML) and age-restricted selling regulations to eliminate the risk of money laundering and under-age gambling addiction. 

    For example, the United Kingdom Gambling Commission amended the identity verification and KYC regulations for online gambling sites. The new regulations require online gambling websites to verify at least the name, address, and age of their players before onboarding them. The previously registered players should be verified as well. 

    With strict changes in the age-verification regimes, the businesses need to gain in-depth knowledge about verification, its methods, and benefits. Several businesses need to incorporate age-verification software in their systems due to one reason or another but are unaware of urgency due to lack of awareness. 

    What Is Age Verification?

    Age verification is a process in which the identity document of the user/customer of a business is screened to verify if the age information provided is true or not. This process can be performed manually or through an automated process. Manual verification is not practiced commonly because it has a high risk of human error and the process is hefty. 

    To solve this problem online age verification is used widely by many businesses. It helps in remote age verification of customers from any corner of the world. 

    How is Online Age Verification Performed?

    How is Online Age Verification Performed?

     

    Online age verification is a swift process that shows results within a minute saving a lot of time and effort of the fraud officer and compliance department. 

    • The end-user (your customer) is asked to enter his date of birth and show his ID Card or another identity document (passport, driving license) bearing his date of birth. 
    • The system screens the document for default format and matches the date of birth on the document with that added by the end-user. 
    • Once the verification process is completed the results are shown to the end-user and updated in the back office. 

    Why Businesses Need Age Verification?

     

    The significant reasons why businesses need to verify the age of their customers are listed below:

    Regulatory Compliance

     

    Regulatory compliance is often one of the major reasons why businesses need to verify the age of their customers is regulatory compliance. Regulations in several countries like the UK and the USA have made age-verification necessary for some businesses and huge penalties are imposed in case of non-compliance. 

    Regulatory compliance helps businesses in gaining credit rating and market value. 

    Corporate Social Responsibility

     

    Corporate Social Responsibility includes the operations and activities of a business that do not reap monetary gain but help it in improving its market value and brand image among the masses. 

    Businesses that sell age-restricted products can use age-verification to show their commitment to the benefit of the masses. Children die every day due to unhealthy consumption of drugs and alcohol, 442 children died in the U.S. in 2015 due to drug overdose. Alcohol sellers should use age verification to play their part in decreasing deaths due to the under-age consumption of alcohol. 

    It will help the liquor store in gaining prominence as a regulatory compliant and socially responsible business. 

    Risk of Fake Identities

     

    Often the children use the identity cards of their parents/elders to buy goods online. In such cases, if a business does not use identity verification it might end up losing its credibility and will also face penalties.

    Another source of risk for some businesses is when identity thieves use the identities of other people to get free services and benefits. Often some benefits like pension and old age funds are given to needy people. Criminals might use fake identities to gain those benefits illegally. 

    Businesses That Need to Verify The Age of Their Customer

     

    Online alcohol stores have a high-risk because they have no face to face interaction with their customers. So, it is very easy for children to buy drugs and alcohol online by using the ID card number of their parents or elders. 

    Several Businesses need to use online age verification to gain the benefits mentioned above. It is a common belief that only gaming and gambling websites need ID verification but the reality is the other way round. Below is a list of businesses that need to verify the age of their customers: 

     

    • Online gaming and gambling websites

     

    Online gaming and gambling websites are under the strict scrutiny of the regulatory authorities. They need to run in-depth KYC on the gamers before onboarding them and age-verification is a necessary part of this regulation. The major reason is to reduce gaming addiction among youngsters. Also, most of these sites are not suitable for underage kids. 

    Online age verification helps online gaming businesses to reduce the risk of non-compliance penalties by providing global coverage in age verification. It reduces the hassle of regulatory compliance by providing swift results. It helps businesses in retaining legitimate customers and keeping minors at the bay.  

     

    • E-commerce Spaces 

     

    E-commerce is a huge market. Often such platforms have a diverse range of products, some of them are suitable for minors and the others are only for adults. Such platforms have a hard time managing their audience because regulations related to age-verification are imposed on such platforms as well. 

    For example, if an online store sells grocery items and liquor as well in its products range then he will need to introduce roadblocks in its website design to mitigate the sales to minors. In this case, online age verification software proves to be an efficient tool for seamless risk prevention.  

     

    • Drug stores and hospitals (medical marijuana)

     

    Online drug stores and hospitals have the right to sell some very expensive drugs. Often such drugs prove to be fatal if used inappropriately. Online drug stores and hospitals (serving online or physically) are developed with the intention to serve needy patients with prescribed drugs. 

    Children use the prescriptions of their parents to get drugs. In such cases the children often get addicted to these drugs and the parents or the drug store/hospital is unaware of the damage made due to their negligence. 

     

    • Online lottery websites 

     

    It is a common practice to use the stolen identities of minors to onboard online lottery websites. These websites are exploited by criminals to wash their black money. In case a lottery website does not verify the age of its customers before onboarding them it will face multiple consequences if a criminal will launder money through their platform using the identity of a minor.

    The lottery website will have to pay penalties for underage selling and non-compliance with AML regulations. So, age-verification is inevitable to avoid harsh regulatory fines and reputational loss.

     

    • NGOs and Govt. Pension Funds

     

    NGOs and Government organizations have many beneficiary programs for senior citizens such programs include, food tokens, pensions, health benefits, tax deductions, etc. Criminals use the identity cards of these people to get benefits illegally. These organizations need to run KYC processes including age-verification, to reduce the loss of needy people. 

     

    • Legal sector

     

    The legal sector needs to run KYC and AML screening on their customer for compliance with AML regimes. At times the legal representatives are in a situation where the rights are transferred to a person after he/she reaches a certain age. In such cases, people often use fake IDs to manipulate legal representatives. 

    Online identity verification and age verification software will be very useful in such cases, as it will help the legal representatives in swift KYC screening along with age verification within a minute. It makes the whole verification process easier for the clients and the legal representatives as well. 

    Government agencies can use age verification for e-voting. It will reduce the hassle and cost of election a lot. Stringent identity verification and real-time age verification measures will reduce the risk of fraud in the election. 

    To wrap up, the benefits and use-cases of age verification are way beyond the general understanding of the masses. Many businesses can utilize age-verification software to increase their customer retention and fraud prevention. It helps the businesses in streamlining their security operations by onboarding secure clients.

     

     

    Related Posts

    Anti Money Laundering, Blog

    Danske Bank Scandal: Banks Under Strict AML Scrutiny of FSA

    Money laundering is becoming a global phenomenon. As per the United Nations Office on Drug and cr...

    Danske Bank Scandal: Banks Under Strict AML Scrutiny of FSA Explore More

    Blog

    Top 10 Identity Verification Trends to Look Out for in 2022

    Did you know identity fraud is growing at a faster than ever rate? Businesses across the globe ar...

    Top 10 Identity Verification Trends to Look Out for in 2022 Explore More

    Blog

    KYC Identity Verification – Building Customer Trust in Ride-Hailing Services

    The transportation industry is in the phase of significant disruption, redefining its services an...

    KYC Identity Verification – Building Customer Trust in Ride-Hailing Services Explore More

    Blog

    Language Barrier? Challenge Accepted!

    Language Barrier? Challenge Accepted! Explore More

    Blog, Identity & KYC

    Enhanced Due Diligence: Ensuring KYC and Regulatory Scrutiny

    Enhanced Due Diligence: The adoption of innovative solutions in businesses today, should not have...

    Enhanced Due Diligence: Ensuring KYC and Regulatory Scrutiny Explore More

    Blog

    A Basic Guide to Know Your Customer Online (2023 Update)

    In our current digital landscape, where identity theft seems rampant, protecting personal informa...

    A Basic Guide to Know Your Customer Online (2023 Update) Explore More

    Blog

    Non-Fungible Tokens (NFTs), Financial Crimes and AML/KYC Regulations – How Shufti Can Help

    Non-Fungible Tokens (NFTs) emergence is providing a whole new segment to buy or sell digital crea...

    Non-Fungible Tokens (NFTs), Financial Crimes and AML/KYC Regulations – How Shufti Can Help Explore More

    Blog

    Need for Identity Verification in Real Estate and Its Real-World Use Cases

    The real estate industry is in dire need of identity verification processes. The reason being, th...

    Need for Identity Verification in Real Estate and Its Real-World Use Cases Explore More

    Blog

    Breaking the KYC Remediation Cycle through a Risk-based Approach

    Banks have paid more than USD 30 billion over the past few years due to ineffective policies to c...

    Breaking the KYC Remediation Cycle through a Risk-based Approach Explore More

    Blog

    5 Ways How Online Age Verification Promises Growth for the Gaming Industry

    The online gaming industry is booming since the last few years. Due to the pandemic, the trend fo...

    5 Ways How Online Age Verification Promises Growth for the Gaming Industry Explore More

    Blog

    A Basic Guide to Smurfing and the Role of AML in Combating It

    Scammers employ various strategies to conceal illegally acquired funds, and one increasingly prev...

    A Basic Guide to Smurfing and the Role of AML in Combating It Explore More

    Blog

    EU’s Smart ID Wallet – Paving the Way for a Seamless Digital World

    A few days back, the European Union Commission published a draft for digital ID wallets for all t...

    EU’s Smart ID Wallet – Paving the Way for a Seamless Digital World Explore More

    Blog

    Vendor due diligence – Why it’s important and how it’s done?

    In today’s ever-changing corporate landscape, businesses are always looking for ways to make thei...

    Vendor due diligence – Why it’s important and how it’s done? Explore More

    Blog

    Know Your Donor (KYD) – Eradicating Financial Crimes in NPOs and Charity Organizations

    In 2020, US citizens alone donated more than $471 billion to charities. This generosity ultimatel...

    Know Your Donor (KYD) – Eradicating Financial Crimes in NPOs and Charity Organizations 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, Financial Crime / AML

    AML Rules for Virtual Currency and Legal Sector – FATF 2019

    Financial Action Task Force (FATF) is an inter-governmental regulatory authority. It was founded ...

    AML Rules for Virtual Currency and Legal Sector  – FATF 2019 Explore More

    Blog

    Post-pandemic eCommerce Landscape Calling for Robust ID Verification Solution

    During the coronavirus pandemic, the e-commerce industry has witnessed a significant increase in ...

    Post-pandemic eCommerce Landscape Calling for Robust ID Verification Solution Explore More

    Blog

    5 Features of the Best Transaction Monitoring Solution

    Criminals are continuously devising sophisticated strategies to launder illegally-acquired money....

    5 Features of the Best Transaction Monitoring Solution Explore More

    Blog

    Understanding the Difference Between Money Laundering and Embezzlement

    Money laundering and embezzlement are two financial offences involving the movement of significan...

    Understanding the Difference Between Money Laundering and Embezzlement 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

    Facial Biometric Authentication for Online Dating Platforms – Building Trustworthy Relationships

    Online dating apps have altogether transformed the concept of socializing, and people are now int...

    Facial Biometric Authentication for Online Dating Platforms – Building Trustworthy Relationships Explore More

    Blog

    Risk Assessment – Helping Businesses Determine High-Risk Customers

    The 2008 financial crash was a pivotal event in shedding light on the detrimental impact of lacki...

    Risk Assessment – Helping Businesses Determine High-Risk Customers Explore More

    Blog

    Securing The Digital Landscape with Electronic Identity Verification Services

    With a surge in identity document forgery, the likelihood of onboarding a criminal has grown subs...

    Securing The Digital Landscape with Electronic Identity Verification Services Explore More

    Blog

    Optical Character Recognition (OCR) – Powering Shufti’s Document Verification

    Trust is a key factor when it comes to doing business or getting financial services from banks. A...

    Optical Character Recognition (OCR) – Powering Shufti’s Document Verification Explore More

    Blog

    Modern Financial Management: The Role of KYI in Safeguarding Businesses

    With our digital ecosystem being full of threats, there is a significant possibility that the qua...

    Modern Financial Management: The Role of KYI in Safeguarding Businesses Explore More

    Blog

    The Emerging Threat of DeepFakes and the Role of Video KYC

    With technological advancement, cybercriminals are revising their strategies to commit fraud. Cri...

    The Emerging Threat of DeepFakes and the Role of Video KYC Explore More

    Blog

    A 2024 Overview of Identity Document Forgery

    As technologies like artificial intelligence and machine learning have advanced, they have signif...

    A 2024 Overview of Identity Document Forgery Explore More

    Blog

    Know Your Business – What Does it Mean & How can it Protect Your Company?

    Businesses that offer their services to other businesses, instead of individual consumers, have t...

    Know Your Business – What Does it Mean & How can it Protect Your Company? Explore More

    Blog

    Top 7 Gambling Trends to Look Out for in 2023

    Going from a few billion dollars to over $81 bn in a matter of a decade is astronomical for any i...

    Top 7 Gambling Trends to Look Out for in 2023 Explore More

    Blog

    AI-based IDV Can Effectively Curb Unemployment Insurance Fraud

    Throughout the United States, an emerging scam has taken the nation by storm. Unemployment Insura...

    AI-based IDV Can Effectively Curb Unemployment Insurance Fraud Explore More

    Blog

    Regulatory Compliance | The Importance of Age Verification on Betting Sites

    Online betting sites and gambling platforms frequently face significant challenges in adhering to...

    Regulatory Compliance | The Importance of Age Verification on Betting Sites Explore More

    Blog

    5 Technology Trends To Disrupt Banking in 2020

    Living in the digital era, technology is driving major changes in almost every industry. Whether ...

    5 Technology Trends To Disrupt Banking in 2020 Explore More

    Blog

    Shufti’s Ongoing AML Solution to Prevent Transaction Laundering

    Online financial criminals are always finding newer ways to exploit financial infrastructures in ...

    Shufti’s Ongoing AML Solution to Prevent Transaction Laundering Explore More

    Blog

    Initial Exchange Offerings (IEOs) – A Detailed Insight

    The advent of the Crypto industry brought decentralized and innovative fundraising ways. One of t...

    Initial Exchange Offerings (IEOs) – A Detailed Insight Explore More

    Blog, Online Marketplace

    Nordic Banks brace for Digital KYC with centralized Database

    Five major Nordic banks have formed a partnership to establish a company that will compile a cent...

    Nordic Banks brace for Digital KYC with centralized Database Explore More

    Blog

    The Trade-off Between Fraud Losses and Compliance Costs in the Banking Sector

    The modern era’s demand for digital-first services in sectors ranging from e-commerce, online dat...

    The Trade-off Between Fraud Losses and Compliance Costs in the Banking Sector Explore More

    Blog

    Difference between KYC and AML

    The growing Fintech industry leads to an increased demand for KYC and AML compliance requirements...

    Difference between KYC and AML Explore More

    Blog

    KYC alternatives disrupting traditional KYC methods

    Technology is building bridges between businesses and consumers across the barriers of distance a...

    KYC alternatives disrupting traditional KYC methods Explore More

    Blog

    The Truth Around DeFi Compliance – Bridging the Transparency Gap

    Financial markets around the world have seen increased popularity with the advent of decentralise...

    The Truth Around DeFi Compliance – Bridging the Transparency Gap Explore More

    Blog

    Detecting & Preventing KYI Fraud | A Deep-Dive into 2023 Investment Scams

    Businesses need to bring on reliable partners and investors who can contribute to growth, provide...

    Detecting & Preventing KYI Fraud | A Deep-Dive into 2023 Investment Scams Explore More

    Blog

    Risk Assessment – Building Trust in Financial Institutions

    For financial institutions to hold onto their customers, they must build and conserve advanced le...

    Risk Assessment – Building Trust in Financial Institutions Explore More

    Blog

    AML Compliance – Addressing Financial Crime Challenges in the UAE’s Banking Sector

    The United Arab Emirates (UAE) is fast becoming the world’s most reputable financial hub, but the...

    AML Compliance – Addressing Financial Crime Challenges in the UAE’s Banking Sector Explore More

    Blog

    KYC Compliance – Identity Verification for Brokerage Companies & Trading Platforms

    Online trading platforms provide businesses with the convenience to keep an eye on financial mark...

    KYC Compliance – Identity Verification for Brokerage Companies & Trading Platforms Explore More

    Blog

    10 Fraud Signals Every Industry Must Monitor

    Gone are the days when businesses paid attention to customer verification only. Today, organizati...

    10 Fraud Signals Every Industry Must Monitor Explore More

    Blog

    Customer Due Diligence Checklist – Is Your Business Compliant?

    Compliance regulations can be a challenging task for the financial services sector and fulfilling...

    Customer Due Diligence Checklist – Is Your Business Compliant? Explore More

    Blog

    CCPA: A Real Roller Coaster for Business Entities

    One huge change in 2020 is the new data privacy law called the California Consumer Privacy Act or...

    CCPA: A Real Roller Coaster for Business Entities Explore More

    Blog

    7 Things Businesses Should Know About Online Face Recognition Solutions

    One might be good at identifying faces. People find it a cinch to recognise a friend’s or f...

    7 Things Businesses Should Know About Online Face Recognition Solutions Explore More

    Blog

    A Deep Dive into Know Your Business Verification

    Customer verification is essential for all businesses to onboard legitimate customers, but what a...

    A Deep Dive into Know Your Business Verification Explore More

    Blog

    Art Market in the Frame of Money Laundering

    The highly volatile finance and crypto sector is not appealing for many investors, so they turn t...

    Art Market in the Frame of Money Laundering Explore More

    Blog

    Know Your Business – What Does it Mean & How can it Protect Your Company?

    Businesses that offer their services to other businesses, instead of individual consumers, have t...

    Know Your Business – What Does it Mean & How can it Protect Your Company? 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

    Establishing a KYC/AML Compliance Regime for the FinTech Sector

    Today, more than 60% of the financial institutions in the market consider Fintech startups to be ...

    Establishing a KYC/AML Compliance Regime for the FinTech Sector Explore More

    Blog

    Enhancing Trust in eCommerce with AI-powered Identity Verification

    eCommerce in today’s world involves utilizing evolving technologies to ensure convenience for cus...

    Enhancing Trust in eCommerce with AI-powered Identity Verification Explore More

    Blog

    ID Verification for Ultimate Subscription Fraud Prevention

    Cellular phones were first introduced in the consumer market in 1973 when Motorolla first introdu...

    ID Verification for Ultimate Subscription Fraud Prevention Explore More

    Blog

    Top 10 Cybersecurity Trends for 2021

    Cybersecurity in 2020 became the biggest challenge thanks to the COVID-19 pandemic. Global lockdo...

    Top 10 Cybersecurity Trends for 2021 Explore More

    Blog, Financial Crime / AML

    Challenges of AML Compliance under FinCEN

    AML Compliance for US based Cryptocurrency companies has been tightened by Financial Crimes Enfor...

    Challenges of AML Compliance under FinCEN Explore More

    Blog, Online Marketplace

    Document Verification Services for a Secure Freelance Platform

    Picture this you have recently started a freelance website you have marketed it properly and foll...

    Document Verification Services for a Secure Freelance Platform Explore More

    Blog

    Money Laundering in the Metaverse – NFTs, DeFi, and the Role of Shufti’s AML Solutions

    For more than a decade, the metaverse concept has been picking up pace, and the world is preparin...

    Money Laundering in the Metaverse – NFTs, DeFi,  and the Role of Shufti’s AML Solutions 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, Fraud Prevention

    Data Breaches in 2019 – A Year in Review

    Stepping into 2020, the year 2019 has been on the rollercoaster in terms of security breaches. Da...

    Data Breaches in 2019 – A Year in Review Explore More

    Blog

    Top 4 Reasons that will Increase Money Laundering Risks in 2022

    Unlike other frauds, like like tax evasion, drug trafficking, extortion, and misappropriation of ...

    Top 4 Reasons that will Increase Money Laundering Risks in 2022 Explore More

    Blog

    Identity Verification with Liveness Detection: The Key to Preventing Spoofing Attacks

    Spoofing attacks are not limited to just emails and fake websites. Hackers and cybercriminals hav...

    Identity Verification with Liveness Detection: The Key to Preventing Spoofing Attacks Explore More

    Blog

    How Businesses Can Leverage Optical Character Recognition Technology in 2023

    Optical Character Recognition (OCR) has revolutionised how businesses gather, process, and analys...

    How Businesses Can Leverage Optical Character Recognition Technology in 2023 Explore More

    Blog

    Curbing Real Estate Crimes and Hunting Down Russian Investors with Shufti’s AML Screening Solution

    The real estate industry has become attractive to money launderers in the same way it is to any l...

    Curbing Real Estate Crimes and Hunting Down Russian Investors with Shufti’s AML Screening Solution Explore More

    Blog

    Identity Fraud on Social Media Platforms – How Shufti Keeps Fraudsters at Bay

    With almost 70% of the world’s population interacting through social media platforms, businesses ...

    Identity Fraud on Social Media Platforms – How Shufti Keeps Fraudsters at Bay Explore More

    Blog

    Open Banking Trends & the Vitality of Identity Verification

    With rapid digitisation, open banking is becoming the new normal in the banking sector. Open bank...

    Open Banking Trends & the Vitality of Identity Verification Explore More

    Blog

    KYC | Complete Guide to KYC Compliance & KYC Regulations 2021

    Introduction to KYC or Know your customer Know your customer or KYC history dates back to 2001 in...

    KYC | Complete Guide to KYC Compliance & KYC Regulations 2021 Explore More

    Blog

    Fraud Prevention – Challenges, Strategies, Best Practices, and Technologies

    The twenty-first century is by far the most revolutionary time in the history of humans in terms ...

    Fraud Prevention – Challenges, Strategies, Best Practices, and Technologies Explore More

    Blog

    AML Screening – Securing Alternative Payment Market and Overcoming Prevailing Risk of Crimes

    Escalating demand for innovative, new, and robust alternative payment options across the world is...

    AML Screening – Securing Alternative Payment Market and Overcoming Prevailing Risk of Crimes Explore More

    Blog, Fraud Prevention

    Credit Card Frauds- How Can You Prevent It?

    Ever since credit cards were introduced, credit card fraud has been elevating. One needs to stay ...

    Credit Card Frauds- How Can You Prevent It? Explore More

    Blog, Identity & KYC

    How Brexit Impacts UK-based Identity Verification Companies?

    Brexit and its ramifications for the UK seem to be the only topic that anyone is interested in Br...

    How Brexit Impacts UK-based Identity Verification Companies? Explore More

    Blog

    The Complete Guide | Transaction Monitoring for Financial Institutions

    With technological advancement, financial criminals have also been given a wider range of tools a...

    The Complete  Guide | Transaction Monitoring for Financial Institutions 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