Jumio, AAMVA reveal biometric deduplication service to detect synthetic identity fraud

Wednesday 24 June 2020 12:30 CET | News

Jumio has launched a new service for checking the data on submitted driver’s license to detect synthetic identity fraud.

This solution was created in partnership with the American Association of Motor Vehicle Administrators (AAMVA) for facial biometric deduplication. The new suite of data-driven services includes address validation, proof of residence, and a Face Lookup service that flags potentially fraudulent activity when the same face is used in multiple verification attempts. As such, duplicate faces found in previous transactions are checked for matching key contact fields extracted from the applicant’s ID document, such as name, address, and date of birth, which provides an indicator of a possible synthetic identity.

Jumio Address Validation confirms that the address included on a government-issued ID document exists in real life, by standardising, validating, and geocoding addresses from more than 200 countries and territories in less than a second. Jumio Proof of Residence verifies that the person lives there by checking government, credit, and commercial data sources from around the world.

The scale of the new and synthetic identity fraud problem is highlighted by Jumio, including a statistic from RSA Security, that 48% of fraud by value comes from accounts less than a day old. The new offering can help banks and other financial service organisations mitigate the recent rise in fraud, Jumio says, as cybercriminals expect to pass ID document reviews by humans or machines, rather than queries back to the issuer.

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Keywords: Jumio, launch, biometrics, deduplication service, US, DMV group, fraud prevention, AAMVA, American Association of Motor Vehicle Administrators, facial biometric, verification, government, ID document, security, synthetic identity fraud
Categories: Fraud & Financial Crime
Countries: United States
This article is part of category

Fraud & Financial Crime

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