March was fraud awareness month, but fraud occurs every month of the year. For this reason, I wanted to arm businesses with important statistics about fraud and what actions they can take to stop it. Several industries can see a considerable decrease in fraud by utilizing a “multi-layered” approach. This includes solutions which tier identity verification and identity authentication. Below are some of the ways ID scanning does this:
- ID Verification: Incorporate ID scanning solutions that ensure that the ID is a valid, government issued ID with correct formatting of barcode features, ID number, etc.
- ID Validation: Utilize higher level vetting to validate the identity of the individual. This includes running the ID against government databases such as OFAC and many others.
- ID Authentication: Authenticate the ID with a check ID for proper security features, holograms, etc. to ensure that the ID is not a fake
Did you know?
88.3% of identity fraud is committed using a fake ID. This number is alarmingly high especially when you consider that over the past six years, fraudsters have stolen $112 billion. This comes down to $35,600 stolen per minute. (AmericanBanker.com)
$2.40 is the amount every dollar of fraud cost merchants in 2016, this is up from $2.23 in 2015. (LexisNexis)
Fraud’s percentage of revenues rose from 1.32 percent to 1.47% in 2016. This revenue is extremely high for retailers and continues to be a growing issue for the retail industry. (LexisNexis)
These statistics are unnerving to say the least. But, as you read, IDScan.net can help. We provide complete solutions with both hardware and software that help users ensure that an ID is properly verified, validated and authenticated.
|The U.S. holds 40% of the world's fraud.|
|88.3% of identity fraud is committed using false identification.|
|Identity fraud with a fake ID accounts for 73.8% of the total dollars lost by U.S. businesses.|
|According to the FTC, synthetic identity theft accounts for nearly 85% of the more than 16 million ID thefts in the U.S. each year.|
|55% of data breaches are from outsiders.|
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To see how our ID scanning solutions can help you prevent fraud, please click here.
A man in California was caught trying to purchase a $12,000 watch using a fake ID. Luckily, the employee was able to catch the culprit before he was able to complete his purchase. The man faces charges of identity fraud, forgery, theft by deception and access device fraud.
To read the full article, please visit the Centre daily Times website.
In Bellevue, it was reported that a man was stealing checks out of people’s mailboxes and using a fake ID to cash them. This form of identity theft is becoming more and more common throughout the US.
As an individual, there are definite precautions to take to protect yourself from identity theft. Some examples include adding a lock to your mailbox and blacking out the address found on the registration in your car. Communicating with your neighbors to help protect each other is also vital in the fight against identity theft.
From a business perspective, a lot of your employees are not trained to spot a fake ID when processing checks, issuing refunds, or selling age-restricted products. So what can you do? By relying on technology to automate ID checking, you can start to identity fake IDs immediately before becoming the victim of check cashing fraud.
Our company has built our entire technology platform to spot fake IDs and protect businesses from fraud. This is not only a service to the business, but also helps customers stop identity theft before it spirals out of control.
Interested in learning more? Feel free to give us a call at 504-434-0222 or check out our Solutions Page.
Have you been a victim of identity theft in the past? Leave your comments below about your experience and how you were able to fight identity theft.
In Biloxi, Mississippi, police reported that a man tried to cash fake checks using a fake ID.
At the Boomtown Casino in Biloxi, Andrew Clay Sims was caught attempting to cash two fake checks within the same hour. By using a fake ID, he attempted to commit check fraud and cash each check.
Does this sound similar? It has been reported by several law enforcement agencies that the fake ID is often the weakest part of check cashing scams. Protect your business by integrating an ID scanner into security system. Visit our solutions page for more information.
You’ve experienced it before. A customer comes to your nightclub, spends a lot of money, and a week later issues a chargeback through their credit card company. This phenomenon is a result of something called “buyer’s remorse”, and it affects thousands of clubs all over the country on a weekly basis.
Chargebacks directly hurt your business’s bottom line and lead to a significant loss on your books. With chargebacks becoming a frequent occurrence in the nightclub industry, how do we protect ourselves from these costly transactions?
Here at IDFalcon, we developed a fully integrated system that helps you keep track of visitors and prove that they were on your premises. We integrated ID scanning, image capture, fingerprinting, and electronic signature into a system that is still easy-to-use, fast and efficient, and most importantly, effective.
Crazy Horse III in Las Vegas found VeriScan Plus and the M-280 scanner to have an immediate impact on their club’s operations. By utilizing it at the VIP section of their club, Crazy Horse III is able to quickly capture all of the customer’s credentials and information to protect themselves from fraud and chargebacks. The system is also fast and efficient, which allowed them to still deliver an extremely high level of customer service and an excellent customer experience.
Many of our customers have championed that the major benefit of VeriScan Plus and the M-280 is the ability to capture three forms of identification in fewer than 5 seconds – customer information (name, age, gender, address, etc.), a picture of the person, and an image of their driver’s license and credit card. We also integrated fingerprinting and electronic signature as an additional level of security to guarantee that customers cannot issue a chargeback.
Chargebacks are costly, but they don’t have to hurt your club. With our new system, chargebacks are a thing of the past. Stop “buyer’s remorse” and start fighting chargebacks.
For more information, please visit the VeriScan Plus and M-280 Product Page.
About IDFalcon: IDFalcon provides ID scanning solutions that read driver’s licenses, military IDs, and other state IDs for access control, automatic data capture, and age verification. They have 10+ years of experience in the ID scanning industry and pioneered ID scanning for mobile apps. Some of their clients include Sapphire Club in Las Vegas, Caesar’s Entertainment, Molson Coors, Hooters, and Borgata Casinos.