Businesses are encountering a severe backlash while striving to provide employees with an environment free of cybersecurity threats. While embracing digitization, companies are outsourcing their work to remote individuals. While it saves infrastructure and accommodation costs, dealing with faraway employees becomes challenging. Undoubtedly, remote hiring and working drive convenience and cost-effectiveness, it has some fair share of fraud threats.
Around 97% of individuals prefer remote working. Keeping this in mind, businesses opting for outsourcing must strengthen their ID verification mechanisms. This way, they can prevent unauthorized access and exploitation of confidential information while increasing workflow. AI-powered synthetic identity fraud prevention checks provide real-time authentication, liveness detection, and automated onboarding to reduce the occurrence of fraud in the first place.
ID Verification Services Counters Hindrances in Remote Working
Communicating with in-house employees is far easier as companies use self-owned and private networks. However, this is different with workers in unstructured settings, especially in terms of remote hiring. It becomes challenging to perform identity verification of employees working from homes or any other far-flung areas. As they use different servers and connections to communicate, cybersecurity threats also simultaneously increase.
Identity theft is one of the most intensifying threats to businesses outsourcing their work. Companies can not validate whether the person asking for access to financial records or other confidential details is a fraudster or a legitimate employee. Moreover, by the time management detects suspiciousness, the imposter will be long gone with all the crucial company details. Keeping this in mind, businesses need to take more precautions while hiring remote employees.
AI-powered ID verification solutions are businesses’ reliable go-to options. This is because of various reasons such as real-time authentication, non-breachable identification, and secure digital onboarding. Upon logging in and accessing confidential records, the system asks employees to provide a selfie that decreases fraud risks. Hence, businesses can ensure secure remote hiring and stay put with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.
Businesses require robust digital ID checks to protect employees’ data, company financial records, and databases from cybersecurity threats. The next section further outlines how online global ID verification safeguards remote hiring processes:
Employee Verification to Restrict Hackers
Remote work opportunities increase convenience for employees by offering them the liberty of task completion and access to information. In return, they save data regarding their assignment, communication, and other details. However, this increases cybersecurity threats for businesses because the servers being used by remote employees do not assure security. Similarly, family members, friends, or any other person can get their hands on the company’s crucial data.
Synthetic identity fraud is another concern for businesses hiring faraway employees as it leads to unauthorized access. This compromises the security of in-house workers and exposes companies to severe legal and reputational repercussions. Hence, to reduce vulnerability, businesses require efficient ID verification solutions. AI-powered identity authentication provides ongoing tracking of employees that further aid in secure remote working.
Counters Document Forgery During Remote Hiring
Tampering with identity information is a long-in-use method by fraudsters to impersonate legitimate individuals. They forge crucial document characteristics to make their profiles look believable. This way, they trick the ID verification systems of businesses. However, with AI-powered IDV tools, businesses can overcome document forgeries. By integrating real-time video interviews or selfie-based identification, there will be less room for imposters.
Fraudsters making fake profiles with tampered information can not replicate facial features. Hence, real-time identification before digital onboarding is sure to place restrictions on fraudsters. Similarly, OCR tools extract information from documents, and ML algorithms efficiently analyze it across global records. Ultimately, companies can unmask fraudsters in no time.
Prevents Spoofing Attempts
Businesses are using identity verification services to validate employees and counter fraud risks. However, criminals employ sophisticated techniques such as spoofing attempts to conceal their identities and escape employee authentication. However, with efficient biometric ID verification systems in place, businesses can counter fraud risks. Companies can ensure secure remote hiring by employing 3D in-depth analysis of selfies and liveness and selfies.
Summarizing the Facts
Validation of identity is the countermeasure for businesses looking forward to fraud-free remote employee onboarding. Fraudsters exploit the loopholes within companies’ identification mechanisms to harm the integrity, worth, security, and reputation of companies. While businesses see remote hiring as a plus point in cutting down excessive infrastructure costs, they face increased hacking and identity theft risks. Hence, integrating ID verification solutions is their reliable bet to counter fraud.
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