Identity authentication is a component of identifying identity fraud risk. Advances in technology through fingerprint biometric services have lead to biometric verification becoming a potential tool in identity verification.
What is identity authentication? The authentication process involves validating the identity presented is the actual person. It goes further than typical identity verification and seeks a confirmation that the person presenting the ID accurately is the person being represented by the ID.
Beyond Paper Identification:
The problem with paper ID verification is it is not tamperproof. Efforts have been made by states to increase security of state-issued ID cards; however, those looking to perpetrate fraud have been able to keep up with the technology changes. How can you keep up with a criminal element dedicated to staying one step ahead of paper identification cards? The answer, you need to change the identity verification process to an identity authentication process.
Examine the below identity verification system. If a system was able to achieve the below, what would the result be for potential identity fraud risk?
– Electronically capturing photo IDs.
– Detecting false or tampered IDs.
– Connecting IDs to fingerprints.
– Verifying identity.
– Automatically verifying age.
– Retaining comprehensive transaction history.
The above demonstrates the need for comprehensive identity authentication systems to help mitigate identity fraud risk. A secondary requirement becomes apparent when you look at the steps required by comprehensive identity authentication systems–the need for speed of validation. As a result the system needs to be both accurate and efficient. How can this be achieved in point of service situations?
Multiple Verifications Mitigate Identity Fraud:
There is a statistical assumption that the more verification checks performed, the better your chances are that you are mitigating identity fraud risk. To perform multiple verifications will require an additional expenditure of time. To keep the process of identity authentication accurate and efficient, what verifications checks need to be performed? In the previously list there was an item called “Connecting IDs to fingerprints,” this verification action can help hold the key to identity authentication.
Connecting IDs to Fingerprints, the Role of Fingerprint Biometric Verification:
Advances in fingerprint biometric technology have resulted in the ability to conduct biometric verification. Some solutions have the ability to capture and link a fingerprint to a single ID record. The result is a mitigation of identity fraud risk and fraud risk resulting from an individual attempting to use multiple identities.
Fingerprint Biometric technology provides identity resolution, or the ability to match one person to one identity. The ability to find identity fraud patterns also prevents individual users from making multiple ID fraud attempts. A final benefit of fingerprint biometrics is that the fingerprint images are stored and available to law enforcement and prosecution of identity fraud suspects.
Uses of Biometric Verification:
The ability for fingerprint biometrics to connect a single fingerprint to a single identity becomes desirable in various business applications. Biometric verification can mitigate identity fraud risk by linking a fingerprint to a single stored identity. This technology becomes desirable in situations where high security is required for identity authentication prior to new business being conducted. Applications such as opening a high-value new account or authenticating an identity through repeat transactions illustrate the need to implement biometric verification.