Fake documents have always been prevalent in various industries, especially financial ones. Whether it’s counterfeit checks, forged loan documents, or straight identity theft cases, fake documents pose a considerable threat to the sanctity of these institutions. However, due to recent technological advancements, fake documents have become more commonplace than before. Identifying such documents is an impossible task, especially for human eyes.
In such a scenario, it becomes imperative for companies to invest in a robust fake document checker. This post discusses the importance of document verification checks in ensuring business security and confidentiality.
Different Types of Fake Documents
Before investing in a fake document checker, business leaders should understand the difference between different types of fake documents. The first thing to learn here is to distinguish between fake and forged documents. When it comes to fake documents, they are produced from scratch by criminals. It means that they did not come from any official source or authority.
For instance, criminals can make fake identity documents or even social security cards for account opening purposes. Often, these people make a mistake such as a typo or a misplaced logo, which makes it easy to spot fake documents. However, some fake documents are so intricately made that it becomes challenging for a traditional fake document checker to identify them.
On the other hand, forged documents are initially authentic, however, criminals alter their information to use them for personal gains. The most common alterations include changing names, photos, and birthdates. Passports and driver’s licenses are primarily used for these purposes as it makes it easy for people to travel.
How to Identify a Fake Document?
Whether a company builds its fake document checker or invests in a third-party solution, strategic leadership, and relevant staff should know how to identify a fake document. The very first step is to understand the purpose of the provided document. For instance, if the document is provided as proof of identity, the fake document checker must first ensure its validity.
On the other hand, if the documents are financial by nature, such as bank statements, loan applications, and insurance forms, the priority should be to determine discrepancies in the data. Although there were times when a naked human eye could catch fake checks and other financial documents, it is no longer the case. Since scammers can use high-precision technologies to create these documents, a robust fake document checker must be used.
Another method to identify a fake document is by comparing it against an official database. For instance, if the document appears to be from a bank, original documents from that bank should be compared to it for authentication.
The Need for a Fake Document Checker Online
According to Statista, the dark web contains scanned versions and physical formats of fake and forged documents. Normally, the price of forged documents is higher than the scanned versions. For instance, the price of a Maltese passport was as high as $6500 in 2022. In the same period, the price of some EU passports was around $3800.
These stats indicate that just for a few thousand dollars, terrorists, money launderers, and other criminals can gain entry to any country in the world. It is evident that fake documents not only cause damage to businesses but also to national security. However, a manual fake document checker can not successfully identify fake documents.
Another perspective of this situation is that an application can take more than 30 minutes for a single verification. It can sum up to hundreds of hours in a single week. Therefore, a modern fake document checker can provide enhanced security and efficiency in document verification. On the same note, companies will no longer have to spend precious resources on maintaining a manual workforce.
Summing Up Document Verification
Traditionally, companies had experts to identify fake documents in various industries. For instance, physical verifications are still prevalent in the travel industry, especially to check passports. However, due to the rising identity theft cases and sophisticated forgeries, it has become difficult for humans to identify documents manually.
In this scenario, a modern verification of documents is the need of the hour to curb financial fraud and identity theft. A major advantage of a fake document checker is that it uses artificial intelligence to identify alterations in the document. Moreover, it can quickly verify the document against multiple databases to ensure the validity and authentication of the documents. A fake document checker is necessary in the modern era to ensure security in businesse