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

    Online Dating Activities, Surging Crimes and Shufti’s IDV Solution

    b-img-online

    Matchmaking is considered one of the oldest industries in existence, online dating is now having a moment of its own. It is difficult to imagine or remember, but once there was a time when going on a date with a stranger was a weird concept. However, nowadays the online dating industry is transforming and the whole way of interacting with potential daters is re-defined. However, dating applications are now introducing a new way of socializing. Apps like Tinder, Meetup and various others are changing the daters’ mindset on a global scale. This is why modern dating is getting popular and universally accepted. Yet, many questions are raised regarding the credibility of apps and are data secure or not.  

    According to Statista reports, nearly 49% of online users using dating applications are looking for exclusive romantic relationships, thus, it’s expected that the industry’s revenue will rise up to $649 million by 2023. On another hand, like every other industry, the online dating sector is also becoming a safe haven for organized crime groups. Fraudulent activities including phishing attacks, identity theft, money muling and various other forms are on rise, putting the future of the industry at stake. Therefore, online dating platforms need to revive trust in this sector. There are around 1500 registered dating apps, and out of them, 60% are prone to security issues.

    Online Dating Industry [Overview 2022]

    Online dating is becoming a growing trend, particularly among teenagers, who need to prioritize careers over marriage and living alone is one of the critical reasons for the increasing popularity of such websites or applications. However, several statistics have shown that it’s a trend that is widespread across the world. For example, in New Zealand and Australia, 1 in every 7 women in their forties has never been married, while in Central and Southern Asia, about 1 in 100 women is unmarried. In addition to this, the data published by the US Census Bureau in 2017 revealed that nearly 13% of the adults living in the States did not get married and living as single has become a trend in the country.

    In addition to this, the Japanese government is also seeking approval for AI-based dating services that will enable singles to find legit matches. The systems aim to leverage artificial intelligence technology to perform more complex analyses to enhance matchmaking standards based on pre-set criteria. To do so, the government expects that the automated systems will assess preferences set by individuals seeking to adopt “konkatsu”, the Japanese concept of marriage hunting.

    However, concerns regarding surging crimes, data security and privacy protection are expected to halt the growth of the sector. Cybercriminals are specifically targeting online dating websites to get unauthorized access to personally identifiable information of users, having realized that more and more people are getting on board with such applications in the wake of the coronavirus pandemic. Additionally, in data breaches, personal data including activity logs, name, gender, email address and other valuable information get into the hands of criminals which is then used to set up fake accounts to scam innocent daters.

    b-info-game

    ‘Casanova Scammer’ Guilty of Stealing $1M From Women on Dating Apps

    A suspect posing as a surgeon pleaded guilty to wire fraud and identity theft after stealing around $1.3 million from more than 30 women he met on dating platforms. According to the Department of Justice, Brain Wedgeworth was involved in more than 25 romance scam schemes in which he posed as a doctor at well-known hospitals and universities aiming to develop romantic relationships with women and gain their trust. However, the convicted entity defrauded at least 30 women in eight states including Georgia, Alabama, Louisiana, Maryland, Texas, Florida, and California.

    “Our citizens should not be preyed upon by fraudsters who steal through overtures of affection,” said U.S. Attorney Jason Coody. “With the assistance of our dedicated law enforcement partners, we are committed to investigating and vigorously prosecuting those who engage in all acts of fraud.”

    Additionally, as a part of the romance scam scheme, the suspect tricked women to end up by giving bank details including personal information. By getting hands-on with the financial information, Wedgeworth becomes an authorized user to increase the credit limits and obtain cash advances. Furthermore, electronic payments were also sent to victims’ credit card companies, mortgage lenders, and other debt collectors using the account that was closed due to insufficient funds. Afterwards, the suspect used those fake payments to convince the women to repay, telling them the bank account got frozen after paying off debt. However, after being caught, the suspected entity admitted that he initiated a romance scam scheme. As pleaded guilty, the court announced 20 years of imprisonment for wire and mail fraud, up to 10 years for money laundering and two years for identity theft. 

    Global Regulations for Online Dating Industry

    Like the financial industry, Law enforcement authorities across the world are now paying attention to the secure online dating sector. Significant steps are being taken to regulate this industry, aiming to protect users’ data and businesses’ integrity. In the United States, the International Marriage Broker Regulation Act (IMBRA) was legislated in 2005 which became a critical obligation for online dating service providers. The obligation included a background screening requirement that will help businesses to verify whether the customer is married or is involved in criminal activities. While the information is to be shared with the ones that they are trying to get connected with. In addition to this, in 2008, another law was passed by the New Jersey state which mandated online dating platforms to report if the required identity verification checks are practiced or not.

    In the United Kingdom, the industry representatives developed the Online Dating Association (ADO) in 2013, with the aim to take responsibility for safeguarding online dating platforms. In this regard, the market leaders came up with self-regulating laws and set up a Code of Practice for online dating service providers. George Kidd, the Director and Chief Executive of the ODA, stated that “the industry did not just want to rely on the State to provide regulation and protection in relation to trading practices, privacy matters and the safety of users.”

    How Shufti Can Help

    To safeguard the online dating industry and reduce the risk of romance scams, businesses need to think of innovative and effective measures similar to the blue badge on Twitter. Shufti’s state-of-the-art identity verification solution helps dating platforms overcome the risk of romance scams by authenticating every person that registers through the app. Powered with thousands of AI algorithms, businesses can screen daters in less than a second with 98.67% accuracy, making it a viable option for safeguarding the dating sector’s operations.

    Want to learn more about online identity verification for your online platform?

    Related Posts

    Blog

    Top 5 Reasons Why Businesses Need Transaction Monitoring Solution

    Companies are moving towards digitisation, meanwhile, cybercriminals are mastering the art of exp...

    Top 5 Reasons Why Businesses Need Transaction Monitoring Solution 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

    How to Design an Effective Client Lifecycle Management (CLM) System with ID Verification

    The customer journey with a business is very comprehensive. It does not end once the customer is ...

    How to Design an Effective Client Lifecycle Management (CLM) System with ID Verification 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

    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

    Source of Funds | A Critical Step in Mitigating the Risk of Money Laundering

    As the world continues on a path of digitization, business operations persist to undergo signific...

    Source of Funds | A Critical Step in Mitigating the Risk of Money Laundering Explore More

    Blog, Fraud Prevention

    4 Fraud Prevention Tips For Your E-commerce Business this Holiday Season

    With the holiday shopping season in full swing, e-commerce fraud risk is a glaring reality that n...

    4 Fraud Prevention Tips For Your E-commerce Business this Holiday Season Explore More

    Blog

    FATF’s High-Risk Jurisdictions [2022 Update] – How Business Can Comply

    Paris-based global watchdog FATF (Financial Action Task Force) maintains lists of countries that ...

    FATF’s High-Risk Jurisdictions [2022 Update] – How Business Can Comply 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

    Top 7 COVID-19 Related Scams and Frauds to Look For in 2021

    It has been more than a year since the COVID-19 pandemic took the world by storm. Where the globa...

    Top 7 COVID-19 Related Scams and Frauds to Look For in 2021 Explore More

    Blog

    Securing Gig Economy Operations and Contributing to the Growth with KYC Solutions

    Startups, SMEs, and the gig industry have seen unprecedented growth. Not to mention, COVID-19 was...

    Securing Gig Economy Operations and Contributing to the Growth with KYC Solutions 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

    Blog

    Building an Effective Customer Due Diligence (CDD) System with Shufti

    There are various factors that businesses have to consider while implementing measures to gather ...

    Building an Effective Customer Due Diligence (CDD) System with Shufti Explore More

    Blog, Online Marketplace

    Why Millennials don’t care about Conventional Banking Services?

    Millennials are different from the baby boomer generation. They earn less than what the previous ...

    Why Millennials don’t care about Conventional Banking Services? Explore More

    Blog

    Ensuring Compliance and Preventing Losses Due to Fraud in the Banking Sector

    Banks are thought to be the most important part of the financial system, playing a vital role in ...

    Ensuring Compliance and Preventing Losses Due to Fraud in the Banking Sector Explore More

    Blog

    A Detailed Insight Into Canadian Gambling Industry [2022 Update]

    Even though Canada is not among the world’s gambling capitals, this business thrives there. The c...

    A Detailed Insight Into Canadian Gambling Industry [2022 Update] Explore More

    Blog

    A Go-To Guide to Proof of Address Verification in 2024

    Customer identity verification is significant in today’s digital world – from buying produc...

    A Go-To Guide to Proof of Address Verification in 2024 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

    Evaluating the Potential of Digital ID Verification Systems in 2022

    Identity fraud and synthetic identities are skyrocketing and collectively account for a loss of ​...

    Evaluating the Potential of Digital ID Verification Systems in 2022 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

    The Power of Identity Verification Solutions in Ensuring Risk-Free Recruitment Operations

    Over the recent years, the employment industry has undergone significant changes, from mass offbo...

    The Power of  Identity Verification Solutions in Ensuring Risk-Free Recruitment Operations Explore More

    Blog

    A Comprehensive Guide to KYC and AML Regulations in the UK

    The increasing number of financial crimes in the UK calls for stringent measures to safeguard the...

    A Comprehensive Guide to KYC and AML Regulations in the UK Explore More

    Blog

    NFC Verification – Making Digital Payments Mainstream from Alternative

    With time, payment methods have evolved from coins to paper-based money, then plastic, and now sm...

    NFC Verification – Making Digital Payments Mainstream from Alternative Explore More

    Blog

    ID Verification for High-Potential Digital Fraud Cases

    Instances of digital frauds and payment scams are highly damaging for banks and financial institu...

    ID Verification for High-Potential Digital Fraud Cases Explore More

    Blog

    Merchant Onboarding – Evaluating the Best Practices to Onboard Risk-free Partners

    Partnering with the right people who can actually help your business grow is quite a tedious task...

    Merchant Onboarding – Evaluating the Best Practices to Onboard Risk-free Partners Explore More

    Blog

    AUSTRAC’s ML/TF Risk Assessment Report on Foreign Subsidiary Banks [Part 4]

    This blog covers the last chapter of our four-part series on AUSTRAC’s money laundering and terro...

    AUSTRAC’s ML/TF Risk Assessment Report on Foreign Subsidiary Banks [Part 4] Explore More

    Blog, Online Marketplace

    ID Verification Ensuring Safety Deals in Real Estate Sector

    Buying and selling properties for people are major, thought-provoking decisions. It requires week...

    ID Verification Ensuring Safety Deals in Real Estate Sector Explore More

    Blog

    5 Things Businesses Should Know about PEP Screening

    Regulators levy penalties when compliance programs fail or companies have insufficient compliance...

    5 Things Businesses Should Know about PEP Screening Explore More

    Blog, Online Marketplace

    Industrial significance of KYC / AML Compliance in 2019

    As the type and amount of fraudulent activities have increased over the years, governments and re...

    Industrial significance of KYC / AML Compliance in 2019 Explore More

    Blog

    Understanding Digital Identity

    What is Digital Identity? In the digital world, your identity is made up of your p...

    Understanding Digital Identity Explore More

    Blog, Identity & KYC

    GDPR versus Identity Verification – Are you Ready?

    If you are an organisation that is based in the EU or are doing business with companies in the EU...

    GDPR versus Identity Verification – Are you Ready? Explore More

    Blog

    Pandora Papers Pushing Global Authorities to Bridge Regulatory Gaps

    The Pandora Papers have made headlines for not only exposing offshore dealings of the rich but al...

    Pandora Papers Pushing Global Authorities to Bridge Regulatory Gaps Explore More

    Blog

    Securing Cryptocurrency Sector and Fighting Financial Crimes With Shufti’s AML Solution

    A decade ago, digital currencies were an academic concept, largely unknown to the world’s general...

    Securing Cryptocurrency Sector and Fighting Financial Crimes With Shufti’s AML Solution Explore More

    Blog

    Top Five FinTech Industry Trends to Look For in 2021

    Continuous advancements in technology have shifted the world toward digital means of communicatio...

    Top Five FinTech Industry Trends to Look For in 2021 Explore More

    Blog

    International Tax Body to curb Cryptocurrency based Tax Evasion

    Tax enforcement authorities from Australia, Canada, the Netherlands, the United Kingdom and the U...

    International Tax Body to curb Cryptocurrency based Tax Evasion 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

    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

    Anti-Money Laundering Screening – Enabling Financial Institutions to Handle Suspicious Activities

    Financial crime is becoming a global concern, yet it’s often tough to spot. That is why gov...

    Anti-Money Laundering Screening – Enabling Financial Institutions to Handle Suspicious Activities Explore More

    Blog, Reg Tech

    Effect of the Amendment to the FINMA Compliance on IDV Service Providers

    In the first quarter of the year 2018, the Swiss Financial Market Supervisory Authority rolled ou...

    Effect of the Amendment to the FINMA Compliance on IDV Service Providers Explore More

    Blog

    Age Verification: Comply with Global Regulations or Face Reputational Damages

    In the digital age, businesses that operate online face a significant challenge when verifying th...

    Age Verification: Comply with Global Regulations or Face Reputational Damages Explore More

    Blog

    Top 5 Non-banking Industries in the Crosshairs of Financial Criminals

    The first half of 2021 saw significant disruption in the financial world as traditional criminal ...

    Top 5 Non-banking Industries in the Crosshairs of Financial Criminals Explore More

    Blog

    Identity verification in freelancing- no more smoke and mirrors

    Freelancing platforms are rapidly growing. In 2017, around 57 million Americans were freelancing ...

    Identity verification in freelancing- no more smoke and mirrors Explore More

    Blog

    Understanding the Key Role of Risk Assessment in the Crypto Industry

    Cryptocurrencies are becoming a hotspot for scammers to perpetrate financial crime. Over 46,000 i...

    Understanding the Key Role of Risk Assessment in the Crypto Industry 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

    Singapore’s Digital Payment Token and AML Regulations [2022 Updates]

    Financial crimes are an ever-increasing threat to the global economic climate. As a financial hub...

    Singapore’s Digital Payment Token and AML Regulations [2022 Updates] Explore More

    Blog

    KYC and AML Compliance – Addressing the Challenge of Money Laundering in Online Trading Platforms

    An online trading platform is a program where shareholders and traders deal through financial int...

    KYC and AML Compliance – Addressing the Challenge of Money Laundering in Online Trading Platforms Explore More

    Blog

    Strengthening E-commerce Security with KYC Regulations

    Facilitating customers to shop online, anytime and anywhere, eCommerce has revolutionised digital...

    Strengthening E-commerce Security with KYC Regulations Explore More

    Blog

    Online Identity Verification – The Hallmark of Surviving the Digital Upheaval

    Embracing the digital world seems like entering uncharted waters where the challenges are novel, ...

    Online Identity Verification – The Hallmark of Surviving the Digital Upheaval Explore More

    Blog, Online Marketplace

    7 Identity theft protection practices for Business and Recuriters

    Identity theft is now no more a cause of concern for the individual users only as corporations an...

    7 Identity theft protection practices for Business and Recuriters Explore More

    Blog

    What is KYC and Why is it Important for Crypto Exchanges?

     Cryptocurrencies are causing significant disruptions in the financial world. Cryptograp...

    What is KYC and Why is it Important for Crypto Exchanges? Explore More

    Blog

    KYC Checklist: A Comprehensive Guide for Businesses and Financial Institutions

    In the ever-evolving landscape of finance, having a solid defence against financial crime is cruc...

    KYC Checklist: A Comprehensive Guide for Businesses and Financial Institutions 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, Identity & KYC

    Why You Need to Verify Identity Online

    5 Unusual Ways Stolen Identities Can be Used Online The need to verify identity in the digital sp...

    Why You Need to Verify Identity Online Explore More

    Blog

    Louisiana Age Verification Compliance Updates 2024

     Age verification is crucial for online tasks like purchases and communication. The inte...

    Louisiana Age Verification Compliance Updates 2024 Explore More

    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

    Top 10 Health Industry Trends to Watch for in 2022

    What are your expectations from the healthcare industry? Technological advancements have proven c...

    Top 10 Health Industry Trends to Watch for in 2022 Explore More

    Blog, Online Marketplace

    Industrial significance of KYC / AML Compliance in 2019

    As the type and amount of fraudulent activities have increased over the years, governments and re...

    Industrial significance of KYC / AML Compliance in 2019 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

    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

    Top Five FinTech Industry Trends to Look For in 2021

    Continuous advancements in technology have shifted the world toward digital means of communicatio...

    Top Five FinTech Industry Trends to Look For in 2021 Explore More

    Blog

    AML Compliance – Eliminating Financial Crimes in FinTech Firms

    The FinTech industry is growing rapidly across various sectors with investments and large-scale a...

    AML Compliance – Eliminating Financial Crimes in FinTech Firms Explore More

    Blog

    Digital Age Verification replacing Age Gates for better compliance

    Age verification is one of the trending snd sensitive topics these days, especially in the busine...

    Digital Age Verification replacing Age Gates for better compliance Explore More

    Blog

    Cross-Border KYC Compliance | Understanding and Overcoming the Challenges

    To handle money laundering incidents and rising regulatory pressure, the banking industry benefit...

    Cross-Border KYC Compliance | Understanding and Overcoming the Challenges Explore More

    Blog

    Covid Test Verification To Facilitate Tourism Worldwide

    Due to the coronavirus pandemic, tourism has been adversely affected and the entire travel sector...

    Covid Test Verification To Facilitate Tourism Worldwide Explore More

    Blog

    The Evolution of AML Compliance from Checkbox to Risk-based Approach

    Financial institutions are exposed to several money laundering threats, as criminals today are we...

    The Evolution of AML Compliance from Checkbox to Risk-based Approach Explore More

    Blog

    Protecting Crypto Ecosystem with Effective Compliance Measures and Robust AML Screening

    In November 2021, the market capacity of the cryptocurrency went over $3 trillion. With the incre...

    Protecting Crypto Ecosystem with Effective Compliance Measures and Robust AML Screening Explore More

    Blog

    KYC/AML Compliance – A Roadblock for Money Mules and Illicit Fund Transfers

    Cybercrimes are becoming increasingly complex and diverse in the era of digitization, with frauds...

    KYC/AML Compliance – A Roadblock for Money Mules and Illicit Fund Transfers Explore More

    Blog

    Transforming the KYC Experience Using Automated Document Verification Checks

    In 2021, reported fraud losses were $5.8 billion, a more than 70% rise in a single year. As ident...

    Transforming the KYC Experience Using Automated Document Verification Checks Explore More

    Blog

    KYC Verification Process – 3 Steps to Know Your Customer Compliance

    Since the turn of the century, we’ve been propelled into a technological revolution. As digital i...

    KYC Verification Process – 3 Steps to Know Your Customer Compliance Explore More

    Blog

    What are chargeback frauds and what do they mean for businesses?

    The world we live in no longer seems to be honest and fair. A large number of individuals are par...

    What are chargeback frauds and what do they mean for businesses? Explore More

    Blog

    The Case Against Cryptocurrencies: Where is it Banned & What’s Causing the Crackdown?

    Cryptocurrencies have long been viewed as the core of illicit activities by numerous governments ...

    The Case Against Cryptocurrencies: Where is it Banned & What’s Causing the Crackdown? Explore More

    Blog

    AML Compliance – Sharpening Focus on FinCrime in the Payments Industry

    Conventional payment services are embracing technological transformation, which is significantly ...

    AML Compliance – Sharpening Focus on FinCrime in the Payments Industry 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