Latest CIFAS survey finds that 60% of UK financial fraud involves fictitious identity data or the use of compromised identity data – rendering data based customer authentication very questionable. More online service providers resort to AU10TIX online ID image authentication technology to help obtain identity data from their source while checking them for authenticity.
Latest CIFAS Fraudscape report warns that 60% of frauds recorded in the UK in 2013, well over 100,000 cases, involved the use of fictitious identities or the abuse of real identity details. UK’s Fraud Prevention Service defines identity fraud, together with the use by online crooks of data such as passwords and emails to hijack existing accounts “can now be considered the ‘norm’ in terms of fraud” (http://www.thehrdirector.com/business-news/it/over-60-percent-of-fraud-is-data-driven-identity-crime/). While biometrics has been initially considered a fool proof solution for identity authentication, and indeed adopted by mobile device manufacturers, such defences have been breached shortly after introduction. However, recent technology advancements draw attention back to government issued ID documents such as ID card, passports or driving licences as the authorised and most authenticate-able source of identity data. Latest 3-way ID image authentication standard announced earlier this year by AU10TIX (https://au10tix.wordpress.com/2014/03/23/au10tix-announces-3-layer-id-image-authentication-standard-for-online-and-mobile-customer-acquisition-at-the-london-fraud-conference/) takes automated ID image authentication beyond logical, data checking adding image tampering forensics and even retrieval of image meta-data.
“Identifying, extracting data dnd authenticating images of ID documents are far from trivial”, says Ron Atzmon, Managing Director of AU10TIX: “The handling of images of ID documents that have been taken by customers at any conceivable quality and relevance is far from trivial. But the ability to automate ID image authentication, taking it into a multi-factor level is the El Dorado of online customer ID authentication. We are proud to be at the forefront of this endeavor. AU10TIX has been first to launch 3-way authentication of ID images which will become standard. By multi-factoring authentication we increase the usability of online identity authentication as a fraud prevention enhancement measure to a whole new level.”
“No one will argue that ID fraud prevention is important”, says Ofer Friedman, VP Marketing of AU10TIX: “But what makes this technology a compelling business case is the fact that by auto-classification of ID document images and their auto-conversion to workable digital records you speed-up and streamline customer acquisition and ‘Time To Yes’… This way, what helps protect against identity fraud and comply with KYC regulations becomes a powerful customer acquisition and operating efficiency tool. Solutions such as the AU10TIX BOS system are actually a competitive power multiplier and not just a fraud prevention measure“
About AU10TIX
AU10TIX Limited, a fully owned subsidiary of ICTS International N.V, deals with the authentication and digitization of identifying documents including Passports, identity cards, driving licenses and other complementary identifying documents. The company specializes in implementing hardware & software based applications used for scanning, identifying, content retrieval, authentication and validation of identifying documents. AU10TIX is a pioneer of all-channel (front-end and online) ID authentication and processing solutions. The company’s products drastically reduce identifying document-based fraud, reducing the costs associated with client processing and enabling effective regulatory compliance, while making the sales and support operations speedier and considerably more efficient.
For more information, visit http://www.au10tix.com
About ICTS International N.V.
ICTS specializes in the development and implementation of innovative security concepts and solutions designed to meet the needs of a variety of industries, mainly aviation transportation, border control and sensitive facilities. ICTS International benefits from over two decades of expertise and international operational experience in transportation security, with a particular emphasis on high-risk environments, passenger processing transactions and the integration of security services to provide a comprehensive security solution. It also offers a wide variety of customized training programs, tailored procedures and a wide range of security consulting services. The company has developed and implemented unique technological solutions, based on its comprehensive approach to security, designed to enhance the level of security while accelerating the security check process.
For more information, visit http://www.icts-int.com
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the Company’s business strategy and future plans of operations. Forward-looking statements involve known and unknown risks and uncertainties, both general and specific to the matters discussed in this press release. These and other important factors, including those mentioned in various Securities and Exchange Commission filings made periodically by the Company, may cause the Company’s actual results and performance to differ materially from the future results and performance expressed in or implied by such forward-looking statements. The forward-looking statements contained in this press release speak only as of the date hereof and the Company expressly disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in the Company’s expectations or future events.
Contact:
AU10TIX
Ofer Friedman, VP Marketing
Email: ofer.friedman@au10tix.com
Tel.: +972-50-4 71 71 50
ICTS International NV
Alon Raich
Email: mail@ictsinternational.com
Tel.: + 972-974-47770
SECURE CUSTOMER ONBOARDING 