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

    us

    216.73.217.4

    Fight Fraud Proactively and Reduce Fake Customer Accounts With Shufti’s AI-powered ID Document Forgery Detection

    b-img-fighting-comp

    Bank statements, land documents, and social security checks are frequently forged. Document forgery used to be quite a challenging task before digital transformation took its hold on the global economy. In today’s social media age, data scraping and photo editing tools are making it easier to gather personally identifiable information that can be used to design a fake document. However,  the practice of creating fake documents to manipulate legal systems is not a new concept. Document forgery has a long history that costs businesses billions of dollars annually in losses, penalties, and brand reputational damage.

    Often, there is a prank element with document forgery which is why forgery detection solutions have become a critical part to identify such fraudulent attempts, yet debates about the validity of documents are often long drawn out controversies. Recent advances in how to identify ID documents forensically have also highlighted the need for more sophisticated and informed methods to overcome the challenge of authenticating refuted information. However, technology is evolving these procedures making them smarter and more robust. This is great not only for businesses but also unfortunately also becoming favorable for criminals who are looking to manipulate banks and other institutions. 

    Document Forgery – Everything Businesses Need to Know

    Document forgery is a serious crime that involves the creation of fake ID documents to give the appearance of legal significance that is not true. 

    The most common types of forged documents are:

    • Passports
    • Driver’s licenses
    • Checks and Financial Statements 
    • Invoices and Contracts
    • ID cards and birth certificates

    There are numerous kinds of techniques to forge a document, including falsifying information or replacing the images in the authenticated documents. 

    Top 3 types of Document Forgery 

    • Freehand Simulation: This is when a document forger tries to replicate the handwriting, signature, or design of legit identity documents.
    • Tracing: Duplicating handwritten text, official signatures, and document designs through transmitted light or carbon tracing, in which a criminal places a sheet over the original documents to make identical forged copies.
    • Electronic Manipulation: Using photoshop or any other photo editor to copy the signatures imprinted in legal documents and then paste them into fake copies, as well as manipulating other information.

    History of Document Forgery – A Detailed Overview 

    The art of document forgery is as old as the alphabet. This crime has been practiced since ancient times in every country around the world where writing existed and paper-based identity or financial documents were used for legal activities and transactions. Various laws and regulations to fight the document of grey can be traced to 80 BC when the government of Rome prohibited the creation of false land transfer documents. Forgery was also prevalent in Europe in the middle ages but with time laws were introduced to restrict such criminal activity in every developed country. Yet, over time it became challenging to detect sophisticated forgeries attempts.

    In 1562, the Government of England passed a law prohibiting the forgery of public records and officially sealed documents especially as it related to land.

    In 1726, with the expansion of these laws, false endorsement on unsealed private documents was declared a capital crime punishable with the death penalty. Hefty fines, imprisonments, and pillory were also among the penalties for non-compliance. 

    In 1819, the Government of England issued one-pound currency notes made with simple pen and ink inscriptions on ordinary white paper which increased the number of forgery cases. Over the next seven years, nearly 94,000 criminals were arrested and 7700 of them were sentenced to death for making fake pounds.

    In 1823, the Government of the United States came up with a principal federal forgery law to prohibit forgery or the manipulation of legal documents for the purpose of gaining financial benefits. The American Law Institute’s Model Penal Code of 1962 simplified and clarified the elements of forgery and became the standard for defining forgery-related crimes.

    Famous Document Forgeries that Changed History — Almost

    History is full of cases where document forgery, falsification, and manipulation affected governments, businesses, and individuals. Many papers believed to be authentic looked legitimate until they were later proved to be fake. Paper-based documents have existed for centuries to govern every aspect of society, from literature to history to law. Since then, criminal masterminds have intentionally created duplicate or fake versions of famous and government documents to reap personal and financial gains.

    Here are some of the famous cases of historical forgeries along with their climax – a time when document falsification and forgery were eventually exposed globally;

    Shakespeare Forgery

    Sometimes criminals don’t create fake documents for money. William Henry is an example of a manipulator who forged documents to get public attention. The forger claimed to find a stack of plays and several letters written by the famous writer William Shakespeare in 1975. As Henry belonged to a trustworthy family, people began to believe that the documents were legitimate. In practically no time, the fans of the famous writers agreed that the letters were indeed written by Shakespeare. Meanwhile, when the letters and stories began to get published, many people reached with suspicion. Once the public had the opportunity to verify the writing, it became crystal clear that it was an elaborate fraud. Years later, the convicted forger confessed and was eventually held answerable for his blatant fraudulent activity.

    Adolfo Kaminsky Forgery

    Not all document forgery activities were carried out for personal gains. Adolfo Kaminsky, a teenage freedom fighter trapped in occupied France after World War 2, is an exceptional example. The boy tried hard to understand how dry cleaning chemicals worked to create fake documents with the aim of saving the many Jews held captive in Nazi-ruled areas. Adolfo even worked with the French Resistance after they were released. The forger had expertise in dry-cleaning as well as sound knowledge of other general chemicals, which was necessary to recreate crucial documents such as birth certificates, marriage licenses, and food ration cards.

    Hitler Diaries

    In 1928, the German Federal Archives at Coblenz contacted Bundeskriminalamt with a request to confirm the authenticity of several historical documents. These official papers, allegedly written by Adolf Hitler, had been offered to stern, a West German magazine, which was interested in purchasing them. However, after a journalistic campaign, the Federal Archives were told that Hitler’s diaries could be provided to them for free if they established expert opinions that would not leave any doubt about the authenticity of the documents. An initial forgery analysis revealed that all the documents were examined in daylight which showed a lesser white effect than is found in common writing papers used today. Furthermore, under UV light examination, all the document samples disclosed fluorescence typical of white dyes but which was completely different from the chemical composition of the original documents. The examination results confirmed that the documents were most certainly forged by a criminal named Konrad Kujau.

    Document Forgery in the Digital Landscape [2022 Update]

    For decades, forgers have been targeting businesses, government institutions, and individuals to manipulate them for personal gain. The same frauds are still being performed today but we hardly hear about them because big brands do not like to publicize when they’re defrauded. Unfortunately, humans naturally find such criminal news and stories exciting, which is why they often garner vast attention. While these criminal cases have great potential to inspire today’s fraudsters, most modern forgers are making efforts to find creative new ways to commit this age-old crime by leveraging the latest techniques and technologies.

    Today’s sophisticated fraudsters risk their freedom for many good reasons. The rewards of successful forgery attempts are enormous because digital commerce has made the impossible quite possible to potentially make millions at a click of a button. Digitisation and technological transformation have accelerated which fraudulent activities are conducted and evolved in terms of the types of scams that are now occurring. Simply put, document forgery is now widely considered a white-collar crime that is affecting businesses worldwide.

    Nowadays, data is also considered a form of currency as the proliferation of personally identifiable information including bank details, financial credentials, ID numbers, and other private information opens a way for fraudsters to defraud the system. Large-scale data breaches including account takeover scams and Card-not-Present (CNP) fraud continue to occur resulting in the theft of countless personal and financial records each year. Often, the abducted data is being used to create fake documents which are further used to open bank accounts, credit cards, claim insurance bonuses, and much more. 

    The rapid development of eCommerce solutions and the willingness of global customers to shop online have also prompted fraudsters to carry out document forgery activities for personal benefits. On another hand,  technological transformation is also aiding criminals to carry out their malicious acts. Shifting from providing bad checks to replicating credit cards, they now have instant access to vulnerable data available over the net, especially the ID documents commonly being sold all over the dark web. According to various experts, in this digital era, every 22 seconds, a new victim is being victimized.  Unfortunately, this trend is not showing any signs of slowing down, making it a much bigger issue worldwide than ever before. The United States FTC also claimed that it received 2.8 million fraud reports in 2021. Thus, as technology is evolving, so is fraud, with estimates showing fraud rates will continue to increase over time.

    theft

    Why do Fraudsters Fake Certain Documents?

    Document forgers actively seek out certain countries with lower security levels and weak regulatory systems to try their luck. Particularly, Identity card documents have a higher exposure to forgery because in many countries the national ID documents have fewer security features such as watermarks, holographic patterns, unique inked stamps, etc, which is like winning the lottery for fraudsters. Some countries have electronic identity cards that can be simply printed out on a piece of paper. Such documents have little or no security features, except maybe a QR code.

    Legal Loopholes

    Many countries across the globe have certain loopholes in their laws that provoke fraudsters to falsify documents without facing legal actions or penalties. For example, Article 327 of the Russian Criminal Code clearly states that the manufacturing or forging of legal documents for the purpose of use or sale is illegal. However, if the systems fail to prove that the documents are forged for use or to sell, the cases can’t be prosecuted. That’s why fraudsters use such shortcomings in law to forge documents knowing they’re highly unlikely to be held accountable.

    No Privacy Awareness

    The severity of data privacy and protection laws for securing sensitive information varies country-wise. In Europe, there’s a strict data protection law called “GDPR” yet only 67% of EU citizens are even aware of it. However, the situation in other countries across the globe is way worse. For example, only half of 54 countries in the African region have adequate data privacy and protection laws, unfortunately leaving millions of people helpless in case of a data breach. 

    Citizens not Following the Law

    Countries where people are not following laws are more prone to criminal activities as compared to jurisdictions where regulations are strictly enforced. According to the WJP Rule of Law Index 2020, the people of Denmark, Finland, and Norway are the most law-abiding. On the other hand, Cameroon, Cambodia, and Venezuela are among the most exposed countries where the law is not enforced properly resulting in an evident increase in Identity theft and document forgery cases.

    Document

    Capturing and Validating Identity Documents: A Decisive Moment

    Nowadays, businesses are witnessing significant growth in remote services which has been possible due to the integration of emerging technologies. As a result of this, people are not required to visit an office or a physical location which is turning into a nightmare for businesses as remote services are allowing fraudsters to use other people’s identity information to create fake copies often processed using high-end photo editing software.

    Rapidly-growing deep fake technologies are also paving new opportunities for criminals to carry out identity spoofing. Therefore, due to the increased risk of ID theft and document forgery, identity verification solutions used for physical and remote customer verification and document authentication are becoming more sophisticated. 

    Document security is continuously enhancing; ID documents such as passports, identity cards, and driver’s licenses are becoming more complex technically by incorporating top-notch security features like special protective drawings, holograms, and ink that changes when the light or the angle of inclination changes. For example, passports in many countries have some protective features now that only become visible when a light is reflected, or when they are exposed to ultraviolet light. On top of this, many identity documents also come with machine-readable codes that contain all of the essential information about its owner embedded within the document. Other than this, various countries have also introduced biometric-based official documents containing personally identifiable information including the photo and digital signatures embedded in them.

    Forensic Document Forgery Detection – A Refined Measure 

    Emerging technologies have not only helped businesses with the security of their operations but also eased the ways for imposters to deploy more sophisticated techniques to manipulate security systems. A lot of digital service providers such as Walmart, Amazon, Paypal, Payoneer, and many others have incorporated regulations to verify their customer documents. Yet,  conventional methods of authenticating documents are not liable to serve the purpose of restricting fraudsters from using forged identities. In the UK alone, customers lost £1.3 billion to fraudsters last year which shows a 27% increase from 2020. Therefore, it can be concluded confidently that existing document verification solutions are not enough to control advanced fraud methods which is why businesses need forensic authentication that is more sophisticated and has the capacity to fully counter modern-day scams.

    Digital service providers such as technology companies, financial institutions, and immigration departments are at a high risk of document fraud. Imposters deploy forged documents to bypass security, claim the money, submit admissions to colleges & universities, or apply for visas to foreign countries. All online businesses can safeguard their customer onboarding system by incorporating forensic forgery detection techniques that leave no room for criminals to carry out such fraudulent activities. 

    Document Checks: Ensuring High-Quality Evidence 

    Documents such as identity cards, wills, contracts, deeds, stamps, bank cheques, and machine-generated files hold special security features that need to be verified in order to detect signs of forgery. 

    Official documents that don’t have high-security features like identifiable marks may contain hidden impressions. In case,  when fraudsters try to replicate official papers by placing them under another document for tracing the genuine format, noticeable traces are left that can be easily detected. Even the discarded documents that were shredded may prove to be valuable for examination. In digital documents, the metadata of the electronic signature files is also examined for verification as it contains essential information about the owner.

    SP fraud report

    Forensic Document Verification – How is it Performed?

    Forensic document forgery detection can be carried out in two primary ways; either the examiner can perform a forensic exam in a  laboratory or one can use a digital document verification solution. If a given agency lacks document forgery analysis capabilities and tools, it can simply outsource document forgery detection to a technology provider like Shufti. 

    Forensic document forgery detection involves the implementation of scientific rules in verifying document authenticity. To do so efficiently, technology companies and SaaS providers have come up with digital document forgery detection solutions.

    In this modern era, the use of forensic sciences is rising, especially in legal and government sectors where no documents are accepted without thorough verification. By utilizing various techniques like handwriting validation, ultraviolet ray examinations, microscopic analysis, data extraction with OCR technology, and infrared imaging, a document is rigidly examined to detect signs of forgery if present. All major jurisdictions that address fraud seriously where document verification is required have formed a separate department distinctly for this purpose. Likewise, the American Board of Forensic Document Examiners (ABFDE) is the primary department overlooking document forensic operations in the US. 

    Some Regulations Against Document Forgery 

    Document forgery, identity theft, and other serious crimes are prevailing across the world, raising critical questions for regulatory authorities as well as businesses worldwide. Therefore, many countries have taken initiatives and are legislating laws to fight fraud proactively. 

    Australia 

    Under the New South Wales Crimes Act 1900, falsification of signatures is a serious offense where the penalties could be severe, including imprisonment for up to ten years. Other laws are also applicable if the documents turn out to be forged and are being used for personal gains. Section 235 of the Crimes Act states that if an alleged entity is found guilty of document forgery, with the intention of using or selling false documents to others, then it is to be held accountable. In addition to this, under the Australian Federal Law, there are serious consequences for forgery offenses. Under section 144.1 of the Commonwealth Criminal Code Act 1995, the convicted entity can face a penalty of ten years in jail.

    Canada

    According to Canadian Criminal Code 366(1), forgery is when criminals make a fake document, knowing it to be false, with the intention of using or selling it as a legit official document. Under the law, the prosecution can proceed on a summary or indictable basis. Indictable offenses are considered more serious than summary offenses and thus they result in heavier penalties. The maximum penalty for document forgery in Canada is set to ten years in jail, or have to pay a $5,000 fine on a case of summary basis. Forgery cases could become complex and the penalties can lead to serious consequences. 

    What Role Does Document Verification Play in Compliance?

    Digital document verification is not necessarily required as a compliance standard even in regulated industries. However, they practice a manual approach to verify their client documents before onboarding.

    The continued growth of digital services and expansion of online platforms has fueled the demand for remote onboarding and online verification to make the customer experience seamless. However, to meet client demands, various challenges for businesses are emerging to carry out identification manually which drives the need for digital document verification services.

    One industry in which online onboarding services and regulations lead is financial institutions. After the world trade center tragedy and the formation of the Department of Homeland Security, along with the Patriot Act various other regulations were legislated to fight fraud, restrict money launderers, and halt terrorist activities.

    In response to these activities, the following two major regulations were brought into the light which are incomplete without practicing document checks.

    • Know Your Customer: This mandates financial firms to incorporate rigorous customer due diligence procedures, including effective digital identity and document verification measures that can determine the true identities of customers before getting them onboard.
    • Anti-Money Laundering: These laws are intently legislated to curb money laundering and terrorist financing activities worldwide. This includes screening customers against financial crime databases, PEPs, and watchlists. In many countries, AML also requires KYC checks as well.

    How Shufti Can Help

    Identity documents are deemed to be legitimate sources of authenticating customers. Any kind of fraud associated with documents can result in serious consequences i.e. penalties or sanctions. It’s critical for digital businesses to incorporate document forgery detection solutions in order to meet KYC & AML compliance as well as fight evolving crimes. By having document forensic analysis in place, businesses can easily determine the signs of forgery and restrict criminals before getting them on board.

    forensic
    Talk to a KYC Expert

    Related Posts

    Blog

    ICOs blocking investors from USA and China – Why and How?

    Initial Coin Offerings, more commonly known as ICOs, are all the rage in modern day financial wor...

    ICOs blocking investors from USA and China – Why and How? Explore More

    Blog

    Enhancing security in the cryptocurrency world with KYC verification

    Almost 20 years after the legislation on combating money laundering, regulators around the world ...

    Enhancing security in the cryptocurrency world with KYC verification Explore More

    Blog

    E-learning Platforms and IDV Solutions: A Natural And Much Needed Partnership

    The advancement of modern technologies and telecommunication modes has made online assistance ava...

    E-learning Platforms and IDV Solutions:  A Natural And Much Needed Partnership 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

    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

    The Crucial Role of Digital Onboarding and Ongoing KYC Monitoring

    In this digital world, users expect convenience, speed, and greater security. Businesses that off...

    The Crucial Role of Digital Onboarding and Ongoing KYC Monitoring Explore More

    Blog

    Pension Fund Fraud and the Role of Employee Identity Verification

    Old age is the scariest phase of life for everyone and organisations find it a big challenge to c...

    Pension Fund Fraud and the Role of Employee Identity Verification Explore More

    Blog

    Securing Identities in the Age of AI with Identity Verification

    The digital age has offered unprecedented convenience and connection, but it has also introduced ...

    Securing Identities in the Age of AI with Identity Verification Explore More

    Blog

    E-Learning Platforms and Prevailing Crimes – How Shufti Can Help

    The global pandemic is prompting a phenomenal increase in online service. From doing groceries to...

    E-Learning Platforms and Prevailing Crimes – How Shufti Can Help Explore More

    Blog

    Biometric Authentication | Understanding the Significance of Facial Recognition

    Data security and identity verification have come a long way since the inception of knowledge-bas...

    Biometric Authentication | Understanding the Significance of Facial Recognition Explore More

    Blog

    Rethinking Trust in Crypto: How Digital Identity Verification Will Power the Next Phase of Growth

    The crypto industry is at a crossroads. After a decade marked by disruptive innovation and volati...

    Rethinking Trust in Crypto: How Digital Identity Verification Will Power the Next Phase of Growth Explore More

    Blog

    AML Screening – Identifying and Overcoming Challenger Banks’ Weaknesses

    There are approximately 77 challenger banks in Europe alone, the best range amongst the other reg...

    AML Screening – Identifying and Overcoming Challenger Banks’ Weaknesses Explore More

    Blog

    Know Your Customer – Addressing the Risks of Financial Crimes in Challenger Banks

    With emerging technologies, financial services are witnessing a digital revolution that is changi...

    Know Your Customer – Addressing the Risks of Financial Crimes in Challenger Banks Explore More

    Blog

    Online Privacy, Security & Inclusivity in a Digital World: Congress Hearing 2021

    On 16 July 2021, the US Financial Services Task Force on Artificial Intelligence held a virtual h...

    Online Privacy, Security & Inclusivity in a Digital World: Congress Hearing 2021 Explore More

    Blog

    Ensuring KYC/AML Compliance In Cryptocurrency Firms – The Role of Shufti

    With emerging technologies in the financial industry, cryptocurrency is picking up the pace, and ...

    Ensuring KYC/AML Compliance In Cryptocurrency Firms – The Role of Shufti 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

    The Power of Robotic Process Automation in the Banking Industry

    Entering into the fourth industrial revolution, business processes are shifted to the digital sph...

    The Power of Robotic Process Automation in the Banking Industry Explore More

    Blog

    Preventing Criminal Abuse of the Australian Crypto Market with Shufti’s AML Screening Services

    Cryptocurrencies have been around for a decade and investors have found a feasible option for inv...

    Preventing Criminal Abuse of the Australian Crypto Market with Shufti’s AML Screening Services Explore More

    Blog

    Facial Verification – Curing Fraud in the Healthcare Sector

    Healthcare professionals continue to be hot targets of bad actors and cybercriminals, with attack...

    Facial Verification – Curing Fraud in the Healthcare Sector Explore More

    Blog

    Liveness Detection and IDV: An Overview of Biometric Facial Recognition

    Identity fraud and cybercrime have significantly surged in the past few years. Deepfake technolog...

    Liveness Detection and IDV: An Overview of Biometric Facial Recognition Explore More

    Blog

    Digital Safety for Social Media, Gaming & E-Commerce Platforms

    As people and businesses are getting more and more connected online, social media continues to pl...

    Digital Safety for Social Media, Gaming & E-Commerce Platforms Explore More

    Blog

    AML Compliance in the Insurance Sector – Red Flags to Look Out For

    The insurance sector commonly faces criminal activities like money laundering and terrorist finan...

    AML Compliance in the Insurance Sector – Red Flags to Look Out For Explore More

    Blog, Fraud Prevention

    6 Steps of Online Fraud Prevention for Businesses

    With the rapid development in the online retail industry and banking industry, there is an increa...

    6 Steps of Online Fraud Prevention for Businesses Explore More

    Blog

    CDD in Real Estate Sector – How to Comply With Updated Regulations

    When it comes to investing funds, real estate is considered the safest sector to invest in becaus...

    CDD in Real Estate Sector – How to Comply With Updated Regulations Explore More

    Blog

    Marketing Firms embracing KYC Services for Better service Delivery

    Browsing through your Facebook newsfeed and you come across one of ‘Those’ friends – “Hey P...

    Marketing Firms embracing KYC Services for Better service Delivery Explore More

    Blog

    EDD: Safeguarding Business Interests with Comprehensive Risk Mitigation

    Traditional due diligence practices may not provide sufficient insights into higher-risk business...

    EDD: Safeguarding Business Interests with Comprehensive Risk Mitigation Explore More

    Blog, Online Marketplace

    Secure Online Gaming with Digital KYC

    Here is a scenario that shows the importance of having a digital KYC system integrated with your ...

    Secure Online Gaming with Digital KYC 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

    How Businesses Can Avoid Identity Verification Fraud in 2019?

    With a bulk of customers using online services, businesses wish to digitise their operations and ...

    How Businesses Can Avoid Identity Verification Fraud in 2019? 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

    Anti-Money Laundering Challenges Faced by the Fintech Industry

    Since the implementation of the bank Secrecy Act (BSA) in 1970, the United States government has ...

    Anti-Money Laundering Challenges Faced by the Fintech Industry Explore More

    Blog

    Two-Factor Authentication – A Firewall Against Social Engineering Attacks

    Businesses and financial institutions around the globe often report concerns of financial crimes ...

    Two-Factor Authentication – A Firewall Against Social Engineering Attacks Explore More

    Blog

    Holiday Season – The Time of the Year When Frauds Soar Sky High

    Despite being the “most wonderful time of the year”, the holiday season is known to have the high...

    Holiday Season – The Time of the Year When Frauds Soar Sky High Explore More

    Blog, Online Marketplace

    The Importance of Know Your Customer for Crowd Funding and ID Verification Service

    In today’s world where most business and financial transactions are taking place online, the impo...

    The Importance of Know Your Customer for Crowd Funding and ID Verification Service Explore More

    Blog

    FATF’s Travel Rule: A New Dawn of Regulations for Virtual Asset Services

    Here at the start of 2021, there is much uncertainty regarding the coronavirus situation, whether...

    FATF’s Travel Rule: A New Dawn of Regulations for Virtual Asset Services 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, Identity & KYC

    10 Quick Tips Regarding Identity Theft Protection

    Identity fraud has grown substantially in the past two decades, and unfortunately, it is here to ...

    10 Quick Tips Regarding Identity Theft Protection Explore More

    Blog

    AML compliance checklist for efficient AML screening in 2020

    2019 brought a plethora of AML regulations for businesses and non-compliance is no more an option...

    AML compliance checklist for efficient AML screening in 2020 Explore More

    Blog

    Combating Identity Theft in On-Demand Services with Shufti’s KYC Solution

    Transition is the only thing that is inevitable in the universe. Every passing day is changing ou...

    Combating Identity Theft in On-Demand Services with Shufti’s KYC Solution Explore More

    Blog

    How Shufti’s KYC Solution Can Ensure Compliance For Call Centers Fighting Crime

    With emerging technologies and rapid digitization, the world is relying on the web and a variety ...

    How Shufti’s KYC Solution Can Ensure Compliance For Call Centers Fighting Crime Explore More

    Blog

    NFTs, Art Market – What Investors Need to Know About ID Verification

    In recent years, Non-Fungible Tokens (NFTs) have gained global attraction from individuals as wel...

    NFTs, Art Market – What Investors Need to Know About ID Verification Explore More

    Blog

    Hazards of Ransomware are real for Cryptocurrency Miners

    Cryptocurrency may well be the future of economic landscape and it has the potential of taking th...

    Hazards of Ransomware are real for Cryptocurrency Miners Explore More

    Blog

    Elevating Document Verification with OCR in 2024 | Data Extraction in Real-Time

    The Optical Character Recognition (OCR) market was valued at US$15 billion in 2019 and is expecte...

    Elevating Document Verification with OCR in 2024 | Data Extraction in Real-Time Explore More

    Blog

    COVID Verification of Tourists: Is the Hospitality Sector Doing Much?

    COVID-19 has been a big hassle for everyone except for those who adopted the new normal quickly. ...

    COVID Verification of Tourists: Is the Hospitality Sector Doing Much? Explore More

    Blog

    Protect Your Business Against Identity Theft with Face ID Check

    The efficacy of biometric authentication becomes questionable in the face of facial ID checks. It...

    Protect Your Business Against Identity Theft with Face ID Check Explore More

    Blog

    Navigating the Changing Digital Finance Landscape 2023

    The financial services sector has witnessed a rapid surge in the adoption of digital technologies...

    Navigating the Changing Digital Finance Landscape 2023 Explore More

    Blog

    KYC/AML Compliance – An Anti-fraud Mechanism for E-wallets

    As more and more countries had to enforce lockdowns because of the pandemic, remote working and d...

    KYC/AML Compliance – An Anti-fraud Mechanism for E-wallets Explore More

    Blog

    Face Verification – Trends and Benefits for the Corporate World in 2021

    Face verification technology has gained popularity over the past few years. A biometric authentic...

    Face Verification – Trends and Benefits for the Corporate World in 2021 Explore More

    Blog

    AML/CFT Compliance – Why Australia is a Safe Haven for Money Laundering

    Recent inquiries and cases against major Australian casinos have raised questions about the measu...

    AML/CFT Compliance – Why Australia is a Safe Haven for Money Laundering 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

    Facial Recognition in UAE to Protect Private and Government Sector

    Continuous developments in the world of technology have led to many innovative solutions like fac...

    Facial Recognition in UAE to Protect Private and Government Sector Explore More

    Blog

    Anti-Money Laundering Screening | Securing Digital Economies from Financial Crimes

    The increased reliance on digital banking and the advent of virtual currencies in today’s d...

    Anti-Money Laundering Screening | Securing Digital Economies from Financial Crimes Explore More

    Blog

    Rising Social Media Scams in 2020 Calling for Digital Identity Verification

    Social media was a simple place for interaction a few years back. People valued it for its securi...

    Rising Social Media Scams in 2020 Calling for Digital Identity Verification 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

    Digital KYC to Trace and Tackle High-Risk Customers

    Customers are the assets and building blocks of any business. Customers are responsible for takin...

    Digital KYC to Trace and Tackle High-Risk Customers Explore More

    Blog

    Combating 8 Prevalent Biometric Fraud Through a Single AI Solution

    Considering how criminals are attempting new strategies to “steal a face”, companies are no longe...

    Combating 8 Prevalent Biometric Fraud Through a Single AI Solution Explore More

    Blog

    Securing Digital Landscape with Electronic Identity Verification Services in 2023

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

    Securing Digital Landscape with Electronic Identity Verification Services in 2023 Explore More

    Blog

    FATF’s June 2021 Plenary – Strategic and Country-specific Initiatives

    The fourth plenary meeting of the Financial Action Task Force (FATF) took place from June 20-25 t...

    FATF’s June 2021 Plenary – Strategic and Country-specific Initiatives Explore More

    Blog

    An inside look at the need for AML in the e-gaming industry

    Data analytics and trends show the penetration of the population into console-based online video ...

    An inside look at the need for AML in the e-gaming industry Explore More

    Biometric Technology, Blog

    Biometric identification Analysis and Facial Recognition Technology

    Identity verification services might have been the most innovative and effective way to cut down ...

    Biometric identification Analysis and Facial Recognition Technology Explore More

    Blog

    20 Facts and Statistics About the Global Finance Sector

    The finance sector makes up around 20 to 25% of the global GDP. With the market capitalization re...

    20 Facts and Statistics About the Global Finance Sector 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

    Know Your Investor (KYI) – Onboarding the Right Investors for Your Business

    In today’s tech-driven world, financial operations are being transformed by emerging digital solu...

    Know Your Investor (KYI) – Onboarding the Right Investors for Your Business Explore More

    Blog, Financial Crime / AML

    AML Screening in the light of Compliance Regimes Around the Globe

    AML compliance is inevitable for all types of businesses around the globe. The regulatory complia...

    AML Screening in the light of Compliance Regimes Around the Globe Explore More

    Blog

    Deepfakes: AI Fraud Attacks Require Even Smarter AI Countermeasures. Now.

    Verifying identities with advanced biometrics was already a challenge—then along came AI-generate...

    Deepfakes: AI Fraud Attacks Require Even Smarter AI Countermeasures. Now. Explore More

    Blog, Identity & KYC

    KYC/AML Compliance in light of FinTRAC

    Witnessing the updated AML/CTF regime; the guidelines by FinTRAC regarding ID verification have b...

    KYC/AML Compliance in light of FinTRAC Explore More

    Blog

    Facial Recognition in UAE to Protect Private and Government Sector

    Continuous developments in the world of technology have led to many innovative solutions like fac...

    Facial Recognition in UAE to Protect Private and Government Sector 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

    Inside the EU’s New Crypto-Assets Regulatory Regime – How Shufti Can Help

    With transforming technologies, the use of cryptocurrency is skyrocketing, and a large number of ...

    Inside the EU’s New Crypto-Assets Regulatory Regime – How Shufti Can Help Explore More

    Blog

    How Optical Character Recognition is Changing the Financial Industry

    Banking and other financial services are the world’s most closely watched and strictly gove...

    How Optical Character Recognition is Changing the Financial Industry 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, 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

    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