Over the past couple of years, as KYC regulatory compliance has become more and more necessary, one of the programs that has gained popularity is liveness detection. Liveness detection is a complicated procedure that involves analyzing multiple features of an individual’s face. It also relies on live commands, having a back-end user perform a sequence of tasks to ensure that they are indeed who they claim.
However, the rush to meet KYC regulatory compliance has created a rise in false security measures, something that is a bit ironic considering the primary purpose of KYC regulation is to cut down on fraudulent activity in the first place. There has been a sharp rise in the number of fraudulent liveness detection programs. Financial institutions must ensure that they’re using authentic solutions if they wish to protect their business.
The Problems With Today’s Liveness Detection Programs
One of the most significant problems with most liveness detection programs today is the fact that the technology is not capable of handling what is promised. Most vendors can't provide customers with online hologram liveness detection. One of the primary reasons for this is because there’s no way to guarantee hologram authenticity from the back-end user.
Today’s smartphone cameras are now starting to come with dual cameras, which takes pictures in both the foreground and background. You may already be familiar with this technology, as it allows you to take photos in Portrait Mode. However, one of the other benefits of this technology is that it can read holograms, allowing companies to verify IDs without having to have the ID present.
However, there are a few problems with this. First and foremost, only the best smartphone cameras of today have this technology. There’s no way of ensuring that a customer has the camera capability to take this type of picture.
Furthermore, companies that say they offer liveness detection with an online hologram scam are making false claims. The entire point of a liveness detection program is to ensure that a 2D image is not used to spoof the system. It’s much easier to trick a camera using a 2D photo than it is using a 3D picture. That’s why liveness detection programs ask users to go through a sequence of events to ensure that they are present.
So, financial institutions must take care to not work with any vendor who offers online hologram liveness detection. Not only will the financial institution be wasting their time and money, but they are also subjecting themselves to problems in the future. This technology cannot prevent fraudulent activity from occurring, and it will not detect individuals who otherwise should have been red-flagged.
What AU10TIX Is Doing Differently
At AU10TIX, we seek to provide our customers with the most state-of-the-art technology. Although one of our goals is to help ensure that our customers meet KYC regulation, our most primary goal is to help keep them as safe as possible and prevent them from entering into a business transaction with someone who wishes to take advantage of their financial services for fraudulent, illegal, or money-laundering activity.
That’s why we never make claims about our products that we can’t keep. It’s also why we are incredibly innovative, seeking to update and improve our products continually. We understand that criminals are always searching for a way to get a leg-up and that we must always find ways to ensure that our customers stay one step ahead.
That’s where our new liveness detection technology comes in. We’re currently working on an AI-based solution to help improve authentic detection. Our customers won’t have to have someone pouring over data trying to identify inconsistencies with online holograms, as they may have to do now when working with other vendors.
Instead, our liveness detection technology will be entirely automated. All companies must do is direct the individuals who they wish to verify to an online website or portal. The individual will then upload a picture of their ID. Next, our AI will take the individual through a series of live events, issuing a set of commands that the individual must complete. While this is ongoing, our software compiles data and looks for areas of inconsistencies or vulnerabilities.
After our algorithms crunch the numbers, it will provide our customers with a detailed result. We will not be satisfied with our liveness detection program until we can ensure 100 percent accuracy.
Looking To Get Started With AU10TIX?
When it comes to your financial security, you can never be too careful. It’s better to invest in a quality product than have to pay penalties and fees after the fact when your business has been compromised by someone engaged in illegal activity. At AU10TIX, we’ll take time to understand your security needs and develop a system designed explicitly to help keep your company safe.