ID fraud is on the rise. More than 214,000 cases were reported to the Cifas National Fraud Database in the first half of 2024 – an increase of 15% over the same period in 2023.
Improvements in security systems operated by banks and other large organisations means that criminals are increasingly aiming for easier targets – individual users who can be duped into giving away sensitive information or transferring funds into fake accounts.
That means that everyone is more likely than ever to become the target of phishing emails, phone scams, fake links and social media deception.
So what can you do to protect yourself?
A healthy level of caution towards links and information in your emails is certainly a good start, but that doesn’t provide absolute protection.
A stray click of a dodgy link, a password entered into a fake form, or a convincing email invoice can be all it takes to leave you with a costly problem to fix.
Sadly, speaking to people on the phone or via video isn’t necessarily going to provide complete protection either.
Deepfake scams are also becoming more widespread, meaning we have to be vigilant whenever we’re doing business remotely.
Recently the CEO of a major international company was the victim of impersonation by hackers using a combination of a fake Whatsapp account, AI voice cloning and YouTube footage in an attempt to steal money and personal data.
Fortunately the attempt was unsuccessful, but it shows how new technology is creating frightening new opportunities for criminals.
So what can you do to protect yourself?
If you’re doing financial transactions on behalf of your own business or your clients – and especially where large sums are involved – you need to make sure you’re several steps ahead of the criminal gangs.
Using Videosign is one way of making it more difficult for identity fraud to succeed.
The multiple layers of security offered by our software mean you have more chance than ever of protecting your business from fraud.
These include:
- ID verification via OneID – using banking credentials to verify identities of individuals
- Facial recognition software – giving an extra level of security through comparison with passport or driving licence photos
- Video meeting function – allowing you to meet remotely and ask appropriate questions to verify the person you’re talking to is real
- eIDAS Qualified signatures – providing evidence that document signatures are the genuine article
- Metadata recording – creating a full digital record of the transaction in case there are issues later
The added benefit of using Videosign is that all of these features are accessed via your web browser in a user-friendly and intuitive interface.
There’s no additional software to download – just login to offer your customers better security and a slicker, more professional experience.
Criminals are harnessing steps forward in technology to commit crime. Technology can protect you from these sophisticated scammers too.
Get in touch today for a demo to find out how Videosign can keep you safe.
