Sinerix fights growing threat of online fraud with new ‘all-in-one’ ID verification and advanced biometric facial recognition technology
- 26.06.2018 08:16 am
With online fraud and identity theft reaching record levels in the UK, technology company Sinerix has taken steps to combat this growing concern by developing a faster and more efficient onboarding service that will allow businesses to verify the true identity of their customers in just a few seconds.
Sinerix has developed a suite of modular software tools aimed at businesses operating across a range of sectors including property, financial services, airports, legal, human resources, mortgage providers and security, that rely on safe document exchange, ID verification and a fast and secure onboarding process.
The technology allows individuals to be positively identified and matched in real time against any EU, US and other international photo ID, such as a passport, driver’s licence or identity card.
Sinerix allows users of its software to carry out simultaneous background database checks whilst verifying a biometric face match and digitally signing sensitive and time-critical documents via a secure cloud-based platform.
Visual and GPS location data is taken to provide a positive identification and exact location of the user and provides risk assessment data and a transactional audit trail in a GDPR- compliant format.
David Kern, CEO for Sinerix said: “Sinerix is a cloud technology company that offers a fully automated KYC (Know Your Client) onboarding solution that is capable of verifying and linking individuals to any government-issued photo ID document with the use of its anti-spoofing biometric facial recognition software, in real time.”
“This development is particularly timely as the UK’s Home Office acknowledges the benefits that technologies, capable of using algorithms and facial recognition software, bring in helping to crack down on rising levels of online fraud and identity theft.”
Kern continued: “Our solution helps businesses to speed up everyday document workflow while reducing unnecessary risks when sending confidential data to an unknown recipient.”
Identity theft on the rise
According to the latest Fraudscape report from Cifas, identity theft continued to rise in 2017, hitting an all-time high of over 175,000 cases, with 95% of these involving the impersonation of an innocent victim. The report claims that fraudsters are changing tactics and are now targeting telecoms, online shopping and insurance companies, rather than traditional banks and credit card businesses.
Commenting on new ways to combat this rise in identity theft, Sandra Peaston, Director of Strategy, Policy and Insight, Cifas said: “We need to give further consideration to the way in which we identify people online and alternatives to knowledge-based authentication are more and more urgently required. The use of technologies such as device, voice and biometric facial recognition software can reduce fraudsters’ opportunities.”
Sinerix says that its authentication software could assist legal professionals in tackling fraudulent activity, such as mortgage fraud, and slow down the burgeoning market in fake IDs, by deterring criminals from attempting to carry out unlawful identification checks due to its inbuilt anti-spoofing biometric technology.