Identity verification startup AuthenticID Inc. is adding a new weapon to its arsenal of fraud detection tools with the debut of Velocity Checks, designed to spot what it calls “high-frequency” attempts at fraud.
Announced today, Velocity Checks relies on the analysis of biometrics and documents to detect multiple fake identities that are being used for fraudulent activities in real time.
As the company explains, the most sophisticated fraudsters will use multiple identity documents that bear their own image, but have different names, so they can bypass visual security checks. It’s necessary for fraudsters to use their own image, because many security checks involve uploading a selfie while clearly showing a form of photographic ID. But this also gives AuthenticID an opportunity to detect them.
Velocity Checks uses what the company describes as “sophisticated image comparison algorithms” to analyze these ID and selfie headshot images the moment they’re submitted by users. It will compare them with the customer’s internal database of stored images from prior customers who have signed up and passed their security checks. By doing this, it can easily detect when a new ID submitted by a user bears the same image as a previous one.
The company said it will compare these headshots in a configurable time frame and segment and flag those images that match, so they can be subjected to a human review. In addition, users will also be able to analyze trends, such as the frequency at which fraudsters attempt to get around customer’s security checks.
AuthenticID Senior Product Manager Blake Brozowski said bad actors are constantly changing their tactics.
“Fraudsters have often circumvented security and authentication protocols by using a single headshot with multiple identities,” he said. “With Velocity Checks, this type of attack can be detected and stopped before an organization faces greater fraud loss.”
The startup has a lot of experience when it comes to spotting fake images. Earlier this year, it launched a comprehensive deepfake detection tool that uses proprietary image recognition algorithms to detect so-called “deepfakes,” which are fake videos, photos and audio recordings created using generative artificial intelligence.
The company promised to continue updating the Velocity Checks tool on a regular basis, to ensure it can identify and prevent any new techniques used by fraudsters to try and bypass visual security checks.