During the COVID-19 pandemic, a significant number of students diverted from their general school routine and spent a lot of their time on social media. This was undoubtedly an adverse condition as it resulted in a slow learning process for minors. But that is not it, the more social media usage by minors made them sensitive to fraud including personal data and financial information. Therefore, to secure minors from the scammers’ fraudulent activities, age-restricted and social media platforms are required to practice robust age verification solutions.
More than half of the world’s population is using social media applications such as Instagram, Tiktok, Twitter, and Facebook. These are the most used platforms that are popular among the younger lot. Fraudsters take full advantage of the naivety of minors ultimately paving the way for various ads and forged surveys that make them seem to come from a legal source. Moreover, imposters use immature children on digital shopping websites to acquire access to susceptible payment information. Businesses that provide KYCC can also implement age verification solutions to protect minors from age-restricted products and services.
Online Age Verification – How Does It Work?
Age Verification Online permits companies to identify the age of their consumers to safeguard children from ID scams. Customers need to upload their PII (personally identifiable information) using a digital form. Moreover, a customer’s photo is require by the system. Fetching the details by deploying OCR software and matching them against the given data facilitates authentic age verification solutions.
Automated services and products, and digital shopping websites offer a lot of things in this tech-driven age. This convenience of approach reflects that persons belonging to all age groups interact, perform, submit and transact through automated means.
ID Theft on Social Media platforms
Displaying fake identities on social media is a comparatively simple thing as no physical presence is need. Major social media fraud is being implement by using forged account IDs to show a fake brand or a company.
Without using the age verification solutions, illegal information on company pages are deployed to make a fool out of individual, especially the young ones into believing that they are interacting with legal organizations. Not just FB, but Twitter, and the most widely used dating platforms are sensitive to ID fraud and other various fraudulent activities. Basically, social media websites deployed for companies do not possess ID verification measures, but with the increasing number of frauds hitting children, an age verification solution is an important check to safeguard these platforms.
Influencer Fraud
The most general concept that comes into our minds. When we talk about influencers is the account that possesses thousands of millions of followers. However, when we see the bigger picture, new kinds of influencer fraud have appeared. Besides promoting the big companies, influencer fraud seems to aid scams. After the influencer profiles on social media platforms cross a specific number of followers. They get marvelous reach from social media users belonging to all age groups.
Having said that. Absence of the identity verification measures like age verification solution is the root cause of influencer fraud for the companies running on social media platforms. Keeping this situation in consideration, age checks are required to be practiced on social media websites so that the developers of these forged influencer profiles are filtered out. This may assist in stopping imposters from developing social media profiles, therefore, mitigating these frauds completely.
One of the companies that deliver age verification solutions, Shufti Pro, has recently been fund by updata partners. Shufti pro funding was confirm by Shufti Pro news.
Financial Fraud
Despite financial fraud being commonly target at a specific group of people. Teenagers are more sensitive to getting impact by them. Besides credit card fraud, numerous kinds of financial fraud are processing by social media websites. Where the younger people are compelled to trust that they will receive an amount in just a short span of time. Forged companies provide investment opportunities by using emails and advertisements. Hence, age verification solutions are the need of the hour for age-restricted businesses to prevent financial fraud.
Summing it up
In this age, when customers and businesses tend to have a social presence and prefer to perform operations. Online, identity verification services have become imperative. Age verification solutions are implement by companies selling age-restricted products and services. Verify age checks makes sure that companies allow access to age-restricted products only to legitimate users and prevent legal penalties in case of non-compliance to age verification solutions.
