Does Social Media Need User Verification Like Other businesses?

  • The process of confirming the individuality of onboarding customers through his identity documents is called know your customer.
  • The address of the customer is validated, it belongs to the person claiming its ownership.
  • To protect minors from accessing adult-related content age verification is used.

Social media is considered to be a new world where users have their digital identities. The identity of a person over an online platform like a social media platform is known as digital identity. As reported, social media users counted 4.2 billion in 2020. The huge number of online users is not completely organic. It also involves fake, duplicated, and synthetic identities. This problem raises the call for robust social media user verification, the method that is used by financial institutions named know your customer.

Kids fall prey to cyberbullying most of the time, as they do not know who to contact or not.

Know Your Customer

The process of confirming the individuality of onboarding customers through his identity documents is called know your customer. It is a comprehensive process adopted by different businesses as per their need.

Know your customer consist of below type of verifications:

Biometric Verification

Facial recognition of a customer is carried in this verification. A biometric verification system is used for it, that compares the facial details with a database or image. The details are the size and shape of the nose, chin position and roundness, and tone and color of skin. Artificial intelligence and image processing check the comparison between two faces.

Document Verification

The verification of a document, checking its similarity with the other document or image. But in KYC the data on the document is matched with the customer entered data. First, the data form document is extracted using character recognition software (OCR). It incorporates AI and natural language processing for capturing words, alphabets, and characters from images of the document.

It also undergoes authenticity checks like format correction, holograms, paper quality, and MRZ detection. It is affirmed that the document is original with no tempering or photoshop attempts.

Address Verification

The address of the customer is validated, it belongs to the person claiming its ownership. The shipping industry and e-commerce business have suffered huge losses by returning parcels because of false addresses, so they use this service mostly.

The extracted address data from the document image is matched and verified with the customer-given address data.

Age Verification

To protect minors from accessing adult-related content age verification is used. The KYC software analyzes the current age by plucking the dob form document. Then it is checked that the age falls in the specified bracket provided by the business.

Social media platforms should choose all of the above verifications to protect their channels.

How Can Know Your Customer Can help?

Below are the reasons why they should choose KYC services:

Cyberbullying and Harassment

Criminals also use fake advertisements like discounts to attract other users.

Kids fall prey to cyberbullying most of the time, as they do not know who to contact or not. Age verification of users and having a bracket of the same age user can prevent this. Like from 12 to 18 years of age users can’t expose themselves to the user with higher age. It will set a good social media platform environment.

Impersonation and Anonymity

It is not a difficult task to create fake accounts on social media, a criminal actor can get himself registered as a legitimate one easily. One can’t confirm easily that the person he is chatting with is real or fake.

This can be controlled by verifying users through their id documents during onboarding. Here is the process of it:

  • User gives his personal details while sign-up
  • Uploads an id document to support this information
  • Document verification is performed on the document
  • A live selfie is captured and facial recognition is conducted
  • Upon successful verification the user is allowed to open the bank account otherwise not

False Advertisements

Criminals also use fake advertisements like discounts to attract other users. They unknowingly of the consequences click on the link. It redirects them to another website asking for their creation of an account. After completing the sign-up or sign-in process, it appears to a phishing link. By phishing links, criminals steal users’ credentials and take over their online accounts.

Conclusion

Social media helped the world in the digital transformation, making it a global village. It is not only a connecting platform but also a means of business for many people. Identity verification has purified the finance sector from frauds and scams. Social media can also streamline and safeguard their channels and users from all types of crimes.

John Harry

I'm a content writer and also a digital marketer, looking for new audiences to share my work with.
https://www.followerscart.uk/

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