Identity theft cases are progressing by leaps and bounds in this modern age of technological advancements. The rate at which fraudulent activities are evolving is directly proportional to the momentum at which technology is progressing. Also, the data production rate is increasing with the progression of the human population. Do you know that 2.5 quadrillion bytes of information are generated each day?
Considering the rate at which data is produced and utilized all across the globe, the acquisition of sophisticated measures for the protection of such data is something that must not be neglected by enterprises of all sizes at any cost. Keeping in view the swift pace of progression in identity theft cases, robust mechanisms such as real-time identity verification solutions, especially document verification must be incorporated for the enhancement of security protocols and to combat illicit money transfers, counterfeits, chargebacks, and other relevant fraudulent activities.