The arrival of the pandemic impacted the corporate sector in various ways and forced industries to shift to digital platforms for providing their services. In this way, kids sought entertainment via digital games. This introduced an increase in the use of smartphones and laptops worldwide. In this regard, children had access to online stores, e-sports sites, and much more. Initially, sites did not have state-of-the-art age verification solutions to protect customers from cyberattacks. This is where global regulatory bodies emphasized the importance of age checks for protecting the well-being of underage users from sophisticated cyberattacks, limiting their access to online content effectively.
Age Verification Service- A Quick Insight into the Solution
It is a procedure to authenticate a user’s age from ID documentation to allow them access to age-appropriate content. Undoubtedly, the traditional systems had various shortcomings that cybercriminals could exploit to their advantage. But they are ineffective in the modern world because they do more harm than good. Companies won’t be able to ensure compliance with AML/KYC standards or achieve their yearly financial goals.
In order to mitigate the problem, online businesses worldwide must opt for the latest age verification services. A number of online sites show checkboxes for “I am over 18” and passwords, which facilitates fraud prevention. This KYC approach facilitates differentiation between digital gaming sites and alcoholic business platforms because they strictly restrict underage consumers from accessing the content.
The Complete Procedure to Verify Age in the Modern World
There are simple phases in the age verification technique. It is not only safe but also a fast method to ensure a positive customer experience. The following process shows the operations of the digital solution:
- The software instructs the consumer to submit desired data, comprising Date of Birth (DoB) and full name in front of the camera
- Digital age verification services make use of Optical Character Recognition (OCR) solutions to extract desired data from the user documentation
- The system verifies all the data by cross-checking it with previous information
- Finally, in the case of correct data, the consumer sees the final output on their screens
Implementing Age Verification Solutions in the Modern-World
According to the latest KYC guidelines, all corporations must validate the age of their users before extending their services or they should be ready to pay hefty fines/ encounter permanent bans. This approach is very important to protect the well-being of underage users. The following points show the importance of age verification in companies:
To Detect Fraudulent Profiles
Usually, minors make online purchases with the help of their parents’ cards. If companies do not opt for the latest services, they will lose customer loyalty. Additionally, fraudsters can exploit the platforms to achieve their malicious goals. They can get hold of pensions, their funds, and health insurance. They can even use fake credentials/ synthetic identity fraud in order to avoid detection.
To Ensure Compliance with International Regulations
Financial firms put the process of user age verification into practice to guarantee adherence to international regulatory requirements. Various jurisdictions have multiple laws and standards, as per Shufti Pro news. Such kinds of measures are very important to safeguard minors and prevent other crimes from prevailing in the world. Corporations that do not implement the latest age verification solutions, end up facing serious penalties.
To Show Corporate Social Responsibility
Safeguarding minors from the negative impact of age-restricted products and digital services is showing Corporate Social Responsibility (CSR). this approach creates a favorable image of the service provider in the challenging market atmosphere Age-limited platforms must opt for powerful age verification systems to bound underage users from availing of restricted services. They can benefit from Shufti Pro funding to upgrade their systems.
Age Restricted Sites & Items
When buying age-limited goods online through various platforms, an age verification system restricts the access of kids. Following are examples of age-restricted products
- Online gaming with mature themes
- Cannabis & Tobacco
- Alcoholic products
- Gambling platforms
- Dating sites
- E-commerce stores
In present times, businesses must implement age verification services to control fraud cases. online age authentication solutions facilitate businesses in validating the users’ age before extending their services. In this way, they can conveniently avoid financial damages by following know your customer/anti-money laundering standards. The support from Artificial Neural Networks enables the software to process vast volumes of data in real-time. Hence, the software never lowers the standard of final results.