Mixture of SSN validation and identification verification offers essentially the most strong safety towards the fastest-growing monetary crime within the USA26th March 2019, SAN FRANCISCO: World identification verification supplier Onfido right this moment pronounces that it has partnered with IDValidation. Utilizing Onfido and IDValidation collectively offers the best assurance {that a} consumer actually is who they declare to be, and reduces the chance to enterprise of artificial identification fraud.Artificial identification fraud is estimated to be the fastest-growing monetary crime within the USA, and prices companies billions of {dollars} yearly. Reasonably than stealing a whole identification, artificial identification fraud entails fraudsters fabricating one aspect of an identification – sometimes a Social Safety Quantity (SSN) – and utilizing it to entry items and providers, or open financial institution accounts and different strains of credit score. It’s been estimated by the Federal Commerce Fee that there are over 10 million extra profiles within the system than there are shoppers within the USA.IDValidation’s distinctive consent-based SSN verification (CBSV) product reduces the chance of artificial identification fraud by scanning official authorities supply information to make sure that an SSN is legitimate. It offers on the spot, on-line validation of private figuring out info together with identify, date of beginning and SSN to provide companies assurance {that a} consumer’s particulars are legitimate.Onfido’s AI-based identification verification know-how is then capable of join this validated identification to an actual, residing human. By asking customers to offer a picture of an identification doc and a brief selfie video, Onfido ensures that the particular person presenting the identification is its authentic proprietor, and is bodily current – stopping spoofing makes an attempt, like customers submitting photographs of photographs.Husayn Kassai, CEO and co-founder at Onfido stated: “for the primary time utilizing IDValidation means you may affirm that an identification is legitimate, and together with Onfido, show that the particular person presenting the identification is who they declare to be, all in lower than a minute. We’re delighted to be partnering with IDValidation to assist companies onboard customers rapidly and deal with the issue of artificial identification fraud”.Paul Campione CEO and Founder at IDValidation, stated: “In right this moment’s ERA of Cyber Crime, Artificial ID Theft has risen by 8-fold during the last 6 years and now accounts for practically 30% of all credit score fraud losses. Lenders can not depend on flawed knowledge sources to forestall fraud. Direct Social Safety Administration entry is required to cease 100% of SIDT. For this reason we’re delighted to accomplice with Onfido to create a “bullet-proof” 3-Half ID Verification answer unmatched within the business right this moment. We imagine this new revolutionary verification methodology will remodel the vetting course of into the longer term.”About OnfidoOnfido is constructing the brand new identification commonplace for the web. Our AI-based know-how assesses whether or not a consumer’s government-issued ID is real or fraudulent, after which compares it towards their facial biometrics. That’s how we give corporations like Revolut, Zipcar and Bitstamp the reassurance they should onboard clients remotely and securely. Our mission is to create a extra open world, the place identification is the important thing to entry. www.onfido.com www.fb.com/onfido www.twitter.com/onfido For additional press info or enquiries, please contact Paul Jarratt at [email protected] About IDValidationIDValidation is the one supplier of Full-Governmental primarily based verification providers. Our firm was constructed on the inspiration of fraud remediation, enforcement, location acquisition and restoration providers internationally. We work with authorities and the non-public sector to confirm identification, battle fraud, ID Theft and their related losses. Firm principals have been within the credit score and assortment business a few years. Our employees has business competencies within the supply of service to our shoppers. Based in 2001, we take delight in putting the wants of our shoppers first.www.IDValidation.com www.fb.com/IDValidation www.twitter.com/IDValidation https://platform.twitter.com/widgets.js