Veriff Boosts Biometric Security to Combat Account Takeover Fraud
Biometric authentication, account takeover fraud, identity verification, facial recognition, fraud prevention
Biometric AuthenticationAccount Takeover FraudIdentity VerificationFacial RecognitionFraud PreventionReal Estate PuneJul 24, 2024
The move comes as ATO fraud continues to rise, with nearly 78% of US decision-makers reporting an increase in AI-driven fraud over the past year, according to Veriff's 2024 Fraud Industry Pulse Survey. To combat this growing threat, Veriff's Biometric Authentication solution now incorporates advanced features such as improved image resolution for more accurate face-matching and better detail capture in biometric templates.
The solution also features enhanced fraud detection capabilities, analyzing over 30 risk signals across behavioral, device, and network parameters to combat sophisticated fraud attempts effectively. Additionally, the solution includes improved detection of deepfake and synthetic media, further strengthening security against AI-generated fraud.
Veriff's enhanced solution aims to streamline the authentication process by providing swift, secure, and continuous user verification. This involves robust fraud checks, liveness detection, and anti-spoofing measures to ensure that only legitimate users can access digital services. The improvements are designed to be user-centric, adapting to individual behaviors to provide a more efficient and secure authentication experience.
Frequently Asked Questions
What is account takeover fraud?
Account takeover fraud occurs when an unauthorized person gains access to a user's online account, often using stolen credentials or other means of deception.
How does Veriff's Biometric Authentication solution prevent fraud?
Veriff's Biometric Authentication solution uses advanced biometric technology, including facial recognition and liveness detection, to verify the identity of users and prevent fraudulent access to digital services.
What is deepfake and synthetic media?
Deepfake and synthetic media refer to AI-generated content that is designed to deceive or manipulate users. Veriff's Biometric Authentication solution includes improved detection of these types of media to prevent fraud.
How does Veriff's solution adapt to individual user behaviors?
Veriff's solution uses machine learning algorithms to adapt to individual user behaviors, providing a more efficient and secure authentication experience.
What is the benefit of using biometric authentication for user verification?
Biometric authentication provides a more secure and convenient way to verify user identities, reducing the risk of fraud and improving customer satisfaction.
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