Does Document Verification Protects All Sort of Businesses?

Document Verification

In today’s fast-moving and innovative world, technology and fraud are rising parallel to each other. Undoubtedly, identity theft is one of the greatest challenges for online firms.

According to the identity fraud survey, in 2018 alone there were 14.4 million victims of identity theft and fraud offenses. Moreover, the number of illegal transactions and privacy abuses, and cyber theft cases are rising as internet transactions are being locked up during COVID-19.

This fact increases the significance of seamless real-time document verification. Anyone who is involved in businesses is familiar with the fact that keeping an eye on numbers is the key to success.

But the funds also need to be clean, meaning that funds need to be accountable and legitimate. That’s why businesses are integrating themselves with such products, which provide the service of document verification, enabling digital solutions for better results with a high rate of accuracy and efficiency.

Document Verification service is used in all sectors. Some of them are as follow:

  • Financial sectors
  • Real Estate
  • Online Market place
  • Airports

Let’s dig deep into the fact that how to document verification is protecting the above-mentioned sectors from fraud.

Document Verification in Financial sectors

How much have we been asked to provide an ID in one of the branches of the bank we visit? We should be familiar with the fact that prevention from identity theft is the major concern of sectors involving financial transactions.

The false individual is an offense to assume an individual’s fake identity to gain or damage the others. An individual may be impersonated in a variety of ways.

It can be easy as creating a screen name that looks like a victim’s name and then shares cruel or hurtful comments when stating that they are the victim, alters the online identity of another user to include sexual or racial remarks or some other offensive or improper items, poses as a victim in chat rooms or on the media.

However, banks are using biometrics in this innovative era to verify the identification of an individual. Indeed, Royal Bank tested new iris scanning, facial recognition, language recognition, and fingerprint technology. A multi-component solution that aims to be reliable and efficient is paired with validated identification results.

Also, Document identity verification is integrated with AML and KYC compliance to prevent money laundering and criminal acts to reduce business risk and increase customer confidence.

Document Verification in Real Estate

The only sectors concerned with anti-money laundering (AML) and anti-terrorism funding (ATF) issues are not financial services and payments. These laws must also be implemented by the immobilization industry. Why? In order to launder money, criminals will create shell companies.

In order to tackle this “crisis,” the UK was calling for full transparency of offshore ownership. In 2004, it was established that £ 180 million of the UK’s property was subject to criminal prosecution.

FinCEN and FINTRAC have taken action in the U.S. and Canada to avoid illegal real estate practices. FINTRAC went too far to say that a significant risk factor has been recognized in the purchase of Canadian immobile assets with offshore money or offshore persons.

Document Verification in Online Market Place

Online marketplaces like e-commerce websites, for example, Amazon, are prone to cyber fraud. Cybercriminals may use a page-swap tactic where traffic from a website that contains malicious content is diverted to another website or build a fake commercial account to steal personal data.

Online stores that are vulnerable to privacy infringement and that have fatal cyber protection schemes tend to achieve a negative reputation in the online marketplace. Likewise, if an organization receives too many remittances, the goodwill with its clients continues to lose.

This can be corrected by using a recognition tool to check customer identity in seconds. Businesses can secure their customer accounts and protect their reputations in the industry and between clients by repairing the gaps in their security systems.

In order to avoid these fraud cases, online markets, such as eCommerce platforms and p2p lenders, should start using identity authentication. There exist many solutions that will reduce risks while complying with regional regulations on anti-money laundering (AML), know your customer (KYC), and Know Your Business.

Document Verification in Airports

Even while traveling your ID can be hacked. When you take simple preventative steps such as securing your records, using encrypted networks, withdrawing cash only from ATMs, and updating your passwords and Codes, a common government approach would be pushed to use remotely identified to enable authentication of a person’s identity regardless of their place in the country.

The key aim of the airport document authentication team is to protect the aviation sector from forged or deceptive use by unauthorized travelers and to safeguard airlines from heavy fines.

The primary responsibility of the Airport Record Inspection team is:

  • Prevention of passports and visa theft
  • Profiling and authentication of records (for Emirates and other airlines)
  • Unallowable treatment (including interception and investigation)
  • Handling of the deported (including interception and investigation)
  • Education of airline and airport workers in the technical documentation


ID document verification functions behind the scenes to guarantee that only the correct ID is recognized. In order to validate its authenticity, this solution analyses the specific details in the document and assures that the name found in the agreement is the same as the name of the document of identity, meaning that only an authenticated person may access the contract.

In order to deter cases of theft and fraud, many modern banks, financial institutions, e-commerce stores, airports… are using AI-powered identity authentication systems. This technology not only allows corporations to authenticate clients but also allows the financial regulatory authorities to cooperate.

Through AI-based document authentication services, organizations can effectively avoid identity fraud and save their clients and corporations from fraudulent online damages incurred by identity theft.

DigitalDocument verification is used in many sectors such as financial sectors, real estate, eCommerce companies, and airports to prevent fraud and cybercrime.

Victor Fredung

Technical Content writing is my passion. I have broad experience in writing for the technical field. I started my writing at the age of sixteen when I was in college. Now I’m already writing for contribution sites as an independent influencer. I wrote many articles on medium and many of them are published in various publications. I wrote many case studies for businesses to let them know the real need for digital transformation for their business.


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