Document identification is checking the originality of documents to ensure their authenticity. In the financial world, fake documents are a burden, making the verification process slow and incomplete. There are many reasons to hack systems that have fake documents or to use forged documentation, which includes using that data to get a loan as that person is not capable of taking that loan, a person wanted to avail of medical facilities, but they are not eligible for those facilities so they can try to get it through fake documentation submission. A survey explains that most of the fake document data is utilized by the dark web. Around $3000 gets charged for the VISA ceiling on dark web websites until 2023.
Forged and Fake Documents Difference
When they are being verified, there are two types of documents: one is forged, and the other is fake. There are some differences between forged and fake documents. Verifying documents is already tiring, but be careful; if the documents become fake, they become a headache for the institutions.
Our discussion will be structured as follows: we’ll start by understanding the concept of fake documents, then move on to forged documents, and finally, we’ll explore the methods to identify fake documents.
Several processing methods are introduced nowadays to ensure that the documents are not fake, that forged documents are not used, and that original data is being utilised for verification. AI fast data processing software is beneficial as they can quickly analyze between real and fake documents through their systems. Let’s delve into these topics:
Fake Documents
Some documents are prepared that aren’t prepared on an official level. These are what we refer to as fake documents. Depending on the use case, fake documents can take various forms. For instance, a fraudulent individual could secure a loan from a bank by hacking someone’s data. Fake documents lack the appropriate seals, watermarks, numbers, and other identifiers that help spot their fakeness. The potential risks associated with such documents are significant, underscoring the need for vigilance in the verification process.
Forged Documents
On the other hand, forged documents are original documents that have been tampered with to create unauthorized copies. The alterations can be as simple as changing the ID print or the birthday printed picture. The most dangerous aspect of forged documents is that an original document can be hacked and altered into a completely new, original look-alike document, making it extremely difficult to detect. Some common types of forged documents include:
- Altered passports
- Altered driving licenses
- Altered signatures and account numbers on documents
- Altered invoice and contract signatures
- Altered certificates of birth
These are different types of forged documents created by fraudsters to make them misuse them.
Analyzing the Originality and Fairness of Documents
The main thing in document verification, whether the document is original or fake, is understanding it first to understand its use. Before accepting any document, a genuine resource must know and confirm its validity.
Some documents, including insurance policies, social safety cards, IDs, paychecks, and bank statements, are usually faked by hackers, specifically in the banking or financial dealing industries. These documents are required by financial institutes when assigning loans, insurance, or credit cards to customers checked through a fake document AI checker.
The alterations in those documents are crucial to determining their authenticity. However, high-powered magnification makes it possible to analyze them because the human eye sometimes finds it impossible to detect their forgery or fakeness. If amateurs do it, it can be detected manually that the document is fake or forged by checking the completeness of the following information in those documents:
- Altered or missing numbers
- Data Errors
- Images or texts being altered
- Formatting became unusual
- Addresses and logos are mismatched
If the fraudulently had access to the data, they could misuse it for any wrong purpose and avail themselves of benefits on the original person’s behalf from anywhere. There are different ways to identify a document’s originality and fakeness. Sometimes, it becomes very hectic to discover the issue, but sometimes, it is not that hectic and can be diagnosed quickly. This is the primary concern of financial institutions, and they must ensure that it is avoided wholly and successfully.
Final Verdict
While there may be many ways to confirm fake documents’ authenticity, one of the most effective methods is to compare it with database information, looking for inconsistencies and continuity. The proliferation of photo editing tools has made it easier for fraudsters to create fake photos and other document copies for illicit activities, making it challenging to distinguish between the original and the fake. Visual inspection can also be a daunting task. However, using AI-powered documents fraud detection platforms can provide a sense of reassurance, significantly enhancing the verification process and ensuring the originality of the documents.
