Currently, gaming service providers should keep their players’ safety in mind. But, the issue is that technological innovation has made it easier for fraudsters to target children for their nefarious objectives. Cybercriminals can exploit them because of poor age verification systems in place. In this way, e-sports industries must implement robust security protocols to develop a strong relationship with their users.
The implementation of age identification solutions can benefit the e-commerce industr. Additionally, according to KYC/AML guidelines, all corporations must show compliance with the regulations for effective fraud prevention. When it comes to traditional approaches, there are several loopholes, and fraudsters can easily exploit them.
Comparison Between Traditional & Digital Age Verification Solutions
Online age verifier solutions are replacing traditional approaches nowadays. ID verification has become mandatory to restrict the use of minors and ensure compliance with international regulations regarding liquor, cigarettes, and alcoholic products. In accordance with the Food and Drug Administration, the age limit for buying and selling alcoholic beverages, and cigarettes, is 18 years. As a result, corporations must implement intelligent solutions to keep track of the personal credentials of their users.
All enterprises, whether online/physical, must abide by the guidelines to ensure effective fraud prevention. The system only demands a Date of Birth (DoB), login credentials, and no paperwork. These steps are essential to discourage scam attempts. The AI-powered OCR system will quickly extract the desired data to validate IDs and users’ documentation in real time.
The latest age verification solution is GDPR compliant and provides global coverage to users worldwide. The newest system has removed the checkbox method to facilitate businesses. Finally, the system works with single API integration and helps fulfill modern-day business needs in a timely manner.
The Complete Working Procedure Behind Age Verification Solution
The digital age checks enables corporations to attract genuine clients and provide their services for powerful fraud prevention. It comprises the following stages:
- Requesting Data Entry
The online age verification service instructs the client to complete an online form with their ID credentials in this phase. For instance, full name and Date of Birth (DoB).
- Demanding Secondary Documentation
After completing the first step, the system guides users to submit supporting evidence for comprehensive validation. For this purpose, the user must provide photos of their government-issued documentation such as driver’s licenses, passports, or ID cards.
- Extracting the Desired Credentials
The OCR technology embedded with an online age verification system captures the desired data in real-time and correctly stores information in the data servers.
- Validating Given Information
When all the above steps are complete, system shows the final results to the end user instantly. The age verification solution only stops the process in the case of forged documentation.
Risks of Non-Compliance with Age Checks
The absence of robust age verification protocols has the potential to threaten the credibility of organisations. Unfortunately, it increases the chances of underage users acquiring access to prohibited content.
- Financial Repercussions
Global regulatory authorities have introduced General Data Protection Regulation (GDPR), which all corporations must abide by to evade heavy fines and permanent bans. This rule is essential as it ensures data privacy for all entities. The legislation is vital for organizations (cannabis, gaming, lotteries & tobacco) that must perform age verification. Industries must remember that lack of compliance can incur financial damages of around $22.5 million. Nonetheless, implementing smart solutions can help modern-day industries deal with their challenges.
- Reputation & Dependability Issues
One of the main objectives of organisations is to develop a strong relationship with their client base. Ensuring higher consumer satisfaction results in a better market reputation which is vital for reaching profit goals and sustainable development. Consequently, present-day industries should invest in online age verification solutions for underage user protection, providing unbeatable security and long-term progress.
Conclusion
Currently, pension institutes are easier targets for scammers. However, there is a risk that fraudulent users will receive retirement benefits even if they still need to meet the eligibility requirements. If pension processing firms are serious about preventing fraud and defending seniors’ rights, they must increase their anti-fraud measures. Thus, service providers must use AI-driven age verification solutions to combat risky behaviours and remain legal in real-time.
