Globally Identity theft and fraud account for trillions of lost dollars every year. The issue stems from how easy it has become for a fraudster to steal, buy, sell, and use another individual’s personal information.
Criminals are continuously transforming and expanding their methods of attack and fraud, mixing the methods and channels in different ways. Because of this, we see the same malicious fraudulent activities, over and over again, in almost every single industry.
A single universal web service allows all financial institutions, companies, and governments to work together to proactively prevent fraud. IDENTIFiD creates biometric “signatures” that can be taken with any transaction, regardless of industry.
These biometric signatures can identify if an individual has committed past instances of fraud. Committing fraud at any location locks the criminal out of all identifid protected locations regardless of ID, preventing further transactions.
Protected by U.S. Patent Number 7779457, Title: “Identity Verification System” positions IDENTIFiD as the only solution that can offer a service as a central agency to identify fraudulent transactions.
identifid is a versatile identity confirmation service with three core functions to best suit unique fraud protection needs.
Use biometrics to check consumers against known watch lists.
A simple yet powerful solution to preventing fraud at the time of any transaction. BioCheck+ takes a quick photo of the consumer, and compares it to a multitude of lists, checking for past fraudulent offenses. Any positive matches return a flag alerting the partner of potential issues.
With every result a SignatureID is returned then saved with the transaction information, thus linking the individual to the transaction.
Best for: Check cashing, remittance, Rental agreements, simple sales transactions, no ID necessary
Add a layer of security by sending information about the ID being presented.
With BioID, companies can confirm that the ID being presented actually belongs to the individual presenting it.
If an ID has been seen before the biometric is compared to one on file – If it is not the same person that used the ID before a flag is returned.
Best for: ID-required transactions, account openings, know your customer, existing account protection, pro-active identity theft prevention, credit applications.
Take proactive fraud prevention to the next level through BioExpire’s timed enrollment. And be alerted if a consumer attempts a prohibited transaction within a specific timeframe.
Retailers use to validate if an individual has returned multiple items in the last 30 days.
Health Insurance providers, Pharmacies use BioExpire’s New Prescription Management Service, to alert if an individual has been prescribed a particular drug in the past 30 days.
Best for: pharmacies, merchandise returns fraud, loan closings, , customer service
A signature confirmation number is then returned with search results to be saved with transaction data.