Identity theft is among the most common cybercrimes committe by criminals these days. Based on distinctive biological traits, each person has a distinct identity. Since stealing someone else’s individuality is a serious crime everywhere, strong enforcement of cyber protection laws has been mandate. However, the development of an artificial intelligence-based face verification solution has significantly improved the situation.
Since the beginning of a recent digital shift, face recognition technology has become increasingly popular. Due to the rising demand for face recognition systems, it anticipates that the market would increase from a total of 4.84 billion dollars in 2020 to 12.75 billion dollars by 2026.
Facial Verification Solution – A Challenge for Scammers
Artificial Intelligence (AI) has made it possible to improve client identification systems in this digital era. AI is leading the fight against fraudsters by verifying the biological characteristics of the end-user. Here are a few characteristics of modern facial recognition technologies that allow for online identity verification:
Liveness Detection
Liveness detection is a component of a biometric face verification solution to power artificial intelligence. This procedure involves running a facial recognition algorithm while also examining the user’s physical presence. Identity fraud is reduce to a lesser extent because an individual’s presence can’t be duplicate, like ID documents.
3-D Depth Sensing
A face recognition system has undergone a full redesign, going from conventional 2-dimensional facial scans to the development of 3-D depth sensing models. The person’s face is more completely studied by 3-D depth sensing, improving the identity verification procedure. By doing this, a firm can protect itself from spoof attacks, eye-cut photo scams, video replays, and imposters using fake faces.
Facial Expression Analysis
Facial recognition online can now be use to evaluate the emotions of an individual. Expression analysis is a modern phenomenon made possible by artificial intelligence system. This makes it simpler for companies to further simplify the verification system.
Industries Benefitting from Face Verification
Here, let’s explore five sectors that are using online face recognition to their advantage.
Social Media Platforms
The majority of social networking networks currently use facial recognition technology. One may have encountered it, for instance, while utilizing Snapchat filters or even when Facebook tags their friends in images and photo albums.
E-commerce Industry
Face verification solutions have to implement by major e-commerce sector behemoths like Amazon and Alibaba to guarantee a quick and secure checkout process. Even though the program was put on hold, its effective usage in the meantime can benefit online businesses as well as clients. It not only protects them from scams but also makes them adhere to KYC regulations.
Travel Sector
Airports now use deep learning face recognition to safeguard passengers and to quickly identify criminals who enter or leave a country. Identity cards, passports, and visas may all be quickly validate with the aid of facial recognition technologies, screening out any indications of attempte fraud.
Brazil, for example, has decided to embrace a biometric system by implementing facial recognition technologies to authenticate people even while they are wearing masks. An improved facial recognition technology enabled by AI can confirm when people are wearing masks during the pandemic. The system has already been adopte by US airports, and it is also integrated into UAE subway stations as well.
Corporate Industry
Corporate offices also started adopting facial recognition software as an improved way of avoiding phishing attempts, spoof attacks, and data leaks. The verification software is also employe as a time and attendance tracking system in the workplace.
Healthcare Sector
The healthcare industry has benefited from technological improvements as well. Face verification technology makes it easier for doctors to accurately verify patient identity and provide the appropriate therapies. The emergence of the pandemic has also increased the popularity of the telemedicine sector. Fraudsters can be quickly identifie during the initial enrollment phase due to biometric technologies.
Final Thoughts
As technology is advancing so do the tactics of scammers to bypass the verification systems for their nefarious gains. Companies are looking for services that authenticate any incoming client while not jeopardizing their experience. This is where face verification technology proves to be fruitful.
Face verification solution is the perfect technology to thwart fraudsters in all organizations. The verification produces results in a short period of time, that are highly accurate. Due to the simple and quick establishment of such systems, global banks may quickly adhere to KYC and AML rules, onboard real customers, and handle fraud cases. Regardles of the number of ways a fraudster tries to infiltrate a system, the facial recognition system is an excellent bet because it sabotage their all efforts at the start.
