The risks and limitations of visual ID verification for community FI's

2016 SAW RECORD DATA BREACHESACCELERATED BY THE CLOUD

Sources: Gemalto Data Breach Index, FINTRAC, Insurance Information Institute, US Department of Justice

data records are breached every second

35

of global data breach incidents in H1 were

in North America

79%

ISSUER ID VERIFICATIONPROCEDURES ARE FLAWED

IDENTITY THEFT IS MASSIVE AND FOCUSES ONDEFRAUDING GOVERNMENTS AND BANKS

Personal Identity Information

theft dominates,accounting for

of all attacks

64%

ISSUERS ARE PAYING A DEAR PRICEFOR INADEQUATE ID VERIFICATION

Irreversible loss of reputation

Huge losses fromfraud and lawsuits

Hundreds of millionsin fines and sanctions

SOME EXAMPLES OF HOWIDENTITY THEFT IS EXPLOITED

Using stolen personalinformation, fraudsters

can convince call centersto give them access

to bank accounts

Using synthetic identities,good credit history is builtover the years. When thecredit limit is raised to

$50K, the fraudster takesa huge cash advance

and disappearsBank employees(including branch

managers) use existingcustomer information

to open accountsand launder money

Americans were victimsof identity theft in 2014 How victims’ information is misused

17.6 million

15.8%Credit card fraud

49.2%Governmentdocuments andbenefits fraud 5.9%

Bank fraud

3.5%Loan fraud

36.1%Other

2015

Inconvenient Error-prone Vulnerable to fraud

Time consuming Inconsistent Outdated

Call center fraud Credit card fraud Insider fraud

ID verification can onlytake place in the branch

Branch employees needto master 1,000+ state

and federal IDs

Enforcement and audit ofKYC processes suffers

due to lack of automation

Customer datacan be exploited

by branch employees

Manual data entryand ID scanning

takes up valuable time

Digital IDs are coming onthe scene which require

new verification technology

OPEN NEWACCOUNT

Please go toyour nearest

branch

IDChecking

Manual

AUTOMATED ID VERIFICATIONMINIMIZES ID FRAUD AND MAXIMIZES REACH

Industrializeddocument forensics

Real-time results Biometricauthentication

Digital audit trail Future-proof

50K

MANUAL ID VERIFICATION WILL GET HARDER IN 2017

New ID cards and drivers licenses will be issuedin tens of jurisdictions, as the 2017 deadline

approaches for the REAL ID Act andnew AAMVA card design compliance measures

FINTRAC has outlined newmethods to ascertain the

identity of clients in Canada,including mandatedphoto ID verification

Forensic document checks confirm

document integrity, security features and

data consistency

Compared against an up-to-date global

document template repository, results are

returned within seconds

Facial biometric matching confirms the person

presenting the document is its genuine holder, before proceeding to background checks

Beyond the branch, ID Verification can be

performed on any connected device—

smartphones, tablets, kiosks and computers

Compliance made easy with streamlined digital

processes and back office integration, supporting service expansion and

open APIs

Ready for next-generation digital IDs, biometricsand NFC scanning of

eDocuments

Shoreline, a Gemalto company, provides identity verification solutions based on automated ID document forensics and biometric checks. Visit http://www.shorelinecards.com/products/id-verification

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