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ComplyCube Rolls Out Enhanced Spoof Detection Amid Bullish Crypto Market

NEW YORK, Nov. 16, 2021 /PRNewswire/ -- ComplyCube, the leading Identity Verification (IDV) provider, has upgraded its Presentation Attack Detection (PAD) in response to increased spoofing attacks, particularly in the financial services and cryptocurrency sectors. The digital identity firm reports that it has seen biometric spoofing attempts increase three folds in Q3 2021.

PAD technology, also known as Liveness Detection, ensures that a person is physically present and not an inanimate artefact, injected video, or a deepfake. For example, Liveness Detection will ensure that a person opening a bank account, making a purchase, or transferring money is present during the transaction and is not being impersonated through a stolen or fake identity.

Liveness Detection is difficult, but not impossible, to fool, especially as fraudsters reverse-engineer the anti-spoofing strategies. Consequently, identity verification providers must continuously invest in their systems to tackle the ever-evolving spoofing techniques. ComplyCube regularly enhances its Artificial Intelligence (AI) engines to remain ahead of fraudsters.

The Software as a Service (SaaS) company says the enhanced spoof detection will be available across all integration channels, including its Application Programming Interface (API), Software Development Kits (SDKs), and the recently launched electronic Know Your Customer (eKYC) solution, Flowtm. The enhancement will improve its ability to flag advanced spoofing vectors, such as:

The AI-focused company says it will continue to invest in novel anti-fraud measures and plans to triple Research and Development (R&D) activity across EMEA, APAC and the Americas. The KYC firm has recently launched an AI-powered identity verification service dubbed "Multi-Bureau Checks". The new service enables businesses to verify customers details such as name, address, date of birth, and Social Security Number (SSN) against trusted sources such as government agencies and credit bureaus in more than 20 countries.

ComplyCube has seen significant growth of over 500% in 2021 after adding high-profile customers across telecoms, travel, financial services, and cryptocurrency.

ComplyCube is a leading SaaS platform for Identity Verification (IDV), Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance. The one-stop AML/KYC solution leverages AI and expert human reviewers. It has a global customer base across banking, payments, remittance, telecoms, finance, healthcare, legal, cryptocurrency, and more.

SOURCE ComplyCube

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News published on 16 november 2021 at 08:32 and distributed by: