The rise of digital fraud is a result of technological advancements. Money laundering, corruption, hacking, and financing terrorism are all crimes committed using technology around the world by scammers. One of the most severe scams impacting people and financial organizations worldwide is identity fraud. The use of more efficient methods, like biometrics, face identification and ID document verification, helps to stop this fraud.
The process of verifying a person’s identity using their fingerprints, facial features, or eyes is biometric verification. So, face recognition is one type of biometric authentication. Moreover, businesses use this method to validate a person’s identity based on their facial features.
Face Identification and Related Fraud
The criminal justice system is the finest example of face identification system usage. In addition to bank robberies, terrorist attacks, money laundering, deceit for monetary gain, and assassinations, there are several similarly despicable crimes. These illicit activities get committed nearly everywhere on the globe. Law enforcement agencies frequently have no idea who the majority of fraudsters are. As a result, justice is delayed, as are investigations. Using this technology can conduct quick analysis, offenders may be exposed, and victims can receive justice.
Which Industries Can Opt to Face Identification Services?
Face authentication is now possible in almost every industry thanks to recognition technology. The following are some of the well-known sectors:
- Social Media Platforms
Social media companies like Facebook, Instagram, and Twitter use face recognition. The person posting the group photo will get a notification to tag the individuals.
- Mobile Making Companies
Companies that make mobile phones frequently use face identification technology. The first company to employ this technology was Apple, with the release of the iPhone X. Following that, the manufacturers of Android-based smartphones began using this feature. Only one person in a million can unlock an iPhone using another person’s face successfully.
- Shopkeepers in shops
All over the world face, this problem of product stealing. Using security cameras and facial recognition software, shop owners can recognize the faces of their customers. One goal is to look out for suspicious characters and potential shoplifters.
- Marketing Companies
When aiming their messages at a particular audience for a product or concept, marketers frequently take into account factors like gender, ethnicity, and age. Face recognition technology makes it possible to identify customers’ faces even at open events like concerts.
Face Identification and Conventional Verification Methods
In the past, numerous methods were used to confirm someone’s identity. The majority of conventional methods relied on labour-intensive, inaccurate, and inefficient manual verification. This verification of many faces per day using standard methods is challenging. Face identification systems that use artificial intelligence, however, can identify faces more accurately in under a second. With the help of the KYC face verification system, You can authenticate customers automatically and ensure that only legitimate customers permit to pass the verification checks.
Face Identification – The Pros
Face recognition is a technological advancement whose effectiveness surprises everyone. However, it has some benefits and drawbacks, which list below, just like any other technology.
Pros:
Enhanced Security
Using a face verification system can help to increase security. Federal or state governments identify terrorists or other notorious criminals. Face identification system help make safe personal devices such as mobile phones, homes and television.
Averting Bias Checkpoints
The majority of law enforcement agencies, like the police, must contend with negative public perceptions of security checkpoints. If a business wants to find suspects in a number of individuals, an automated system is better than a human invasion. Instead of using security checkpoints, face identification technology can apprehend criminals with the aid of surveillance cameras.
Quick processing
Business owners benefit from facial recognition systems because they can recognize faces quickly. Companies require quick and secure technologies to combat cyberattacks. Moreover, the benefits of facial recognition technology are immense. So, they confirm someone’s identity quick and simple.
Conclusion
Face identification is a biometric method of confirming someone’s identity that makes use of the individual’s facial characteristics. So, in addition to motion pictures and still images, it has the capacity to recognize faces in real time. Businesses in a wide range of fields, such as security, finance, education, or marketing may use this service. Facebook and other social media companies use this technology with a high accuracy rate. So, Face recognition technology has benefits and drawbacks, just like other technologies. Moreover, data breaches and the potential for error are viewed as negatives, whereas better security and quicker processing are considered positives.
