In the new age of AI-powered musical impersonation, deepfakes and bots, an artist’s greatest asset in the digital world is their Name, Image, Likeness, and Voice (NILV). Today, identity verification is essential to ensure trust, integrity, and authenticity. .MUSIC and global identity verification provider Shufti Pro are partnering to authenticate the digital identity of the entire global music community to create a trusted ecosystem of verified artists, creators, industry professionals, organizations, businesses, and brands under the .MUSIC top-level domain. 

With support in over 200 countries, ShuftiPro offers an identity verification solution that globally validates people and organizations using a combination of government IDs and biometrics. For Shufti Pro, the go-to experts for identity verification in highly regulated industries like banking, fintech, and healthcare, .Music is a first-of-its-kind partnership in a completely new space.  

“We are so happy and proud to join forces with .MUSIC and support their global mission of ensuring a safe and secure online environment that will promote trust, cooperation, opportunities, and legitimacy for the global music community,” states Shufti Pro CEO Patrick Cox. “At ShuftiPro, we have the technology and the means to support .MUSIC and we are fully committed to this mission.”

While critical work is being done to develop policies protecting artists and their NILV against deepfakes and stolen IP, legislation takes time to pass and only has a national effect. Shufti Pro’s ID verification is cross-platform and global–providing far-reaching protection. Thanks to this new partnership with Shufti Pro, all companies and individual members who register a .MUSIC domain will be vetted and their identities verified. By ensuring that every .MUSIC domain is owned by the creator or brand who claims to own it, the two companies will create a safe, secure, and transparent music ecosystem in which everyone can easily determine who is sharing any information or content.

“This collaboration is a critical development for safeguarding the music community’s digital identity and creating a trusted, secure and authentic music-centric Internet for the global music community and industry to safely connect, engage and transact,” says .MUSIC Founder and CEO Constantine Roussos. “Having a verified global music identity is the only way to streamline royalty collection and the licensing process of obtaining NILV permission directly from the authorized source to enable proper provenance, attribution and compensation.”

“Our partnership with .MUSIC marks a pivotal moment for global identity verification in the music industry,” says Cox. “We are excited to set a new industry standard for identity authentication for artists, bands, industry professionals, organizations and other members of the global music community.”

After more than a decade-long battle to secure the exclusive rights to the .MUSIC top-level domain name, the .MUSIC registry is launching globally. For the first time in the Internet age, the global music community and industry will be able to register their .MUSIC names in a trusted, secure, and safe manner without the fear of impersonators, cybersquatters, or AI bots. 

The global launch of .MUSIC has started with great anticipation and excitement, with many famous music artists and brands registering their .MUSIC names. These include Taylor Swift, Lady Gaga, Prince, Jimi Hendrix, James Brown, Whitney Houston, Universal, Sony, Warner, Spotify, Soundcloud, Deezer, Tencent, Ticketmaster, Live Nation, Apple, Google, YouTube, Meta, Facebook, Instagram, WhatsApp, Amazon, Twitch, Reddit, Coachella, iHeart, CBS, NBC, MGM, Shopify, Hilton, Uber, BMW, Rolex, Prada, Andreesen Horowitz, a16z and many others.

“We are committed to ensuring that every verified artist and music community member is able to interact in a secure, authentic and genuine digital space,” says Marina Roussou of id.MUSIC, the exclusive global identity provider for .MUSIC. “Verified MusicIDs will enable artists to protect their name, image, likeness and voice against AI deep fakes, impersonators and bots to preserve the integrity of everyone in the music industry.”

About Shufti Pro
Shufti Pro is a leading global identity verification provider that helps businesses verify identities, documents, and accounts, covering KYC, KYI, KYB, and AML solutions. The company’s 17+ identity verification solutions are trusted worldwide by 1000+ businesses belonging to industries varying from finance to insurance and e-commerce. Shufti Pro extends document verification in 150+ languages, with the ability to validate 10,000+ IDs in 240+ countries and territories within seconds.  By adopting AI-focused automation and the latest technological tools, Shufti Pro secures business processes like client onboarding, account opening, and digitization through award-winning identity verification services with an accuracy of up to 99%. For more information, visit: https://www.shuftipro.com 

About .MUSIC

.MUSIC is the trusted, safe and secure top-level domain name and verified MusicID for the global music community and industry. The .MUSIC initiative is a global music community-based and industry-led effort to create .MUSIC top-level domain with music-tailored policies and enhanced safeguards to protect intellectual property and the rights of creators globally, giving them full control of their music works. The .MUSIC top-level domain provides a music-centric Internet, a thriving, vibrant, and innovative place that promotes legitimate music creation, access, and distribution, where the global music community securely connects, interacts and transacts. For more information, visit: https://www.registry.music

About id.MUSIC

id.MUSIC is the exclusive music identity provider (IDP) for the .MUSIC top-level domain name serving the global music community and industry. id.MUSIC provides a verified global MusicID to to protect music artists’ Name, Image, Likeness and Voice (NILV) rights and address impersonators, AI cloning, bots and deepfakes. For more information, visit https://www.id.music  

For media enquiries, contact media@my.music

For more information, please contact

Lance Hood
Chief Marketing Officer | Shufti Pro

Initially Published on PR Log 

London, UK – April 4, 2024 – Zoth, an innovative RWA marketplace for enhanced liquidity and tokenization, has collaborated with Shufti Pro, integrating its highly secure and compliance-assured KYB and KYC services into its processes. The alliance paves the way for improved safety and transparency in Zoth’s financial ecosystem for individuals and institutions alike. 

A pioneer in the fintech industry, Zoth was built to streamline asset conversions from traditional markets to OnChain Finance. Backed by funds like SOSV, Blockchain Founders Fund, Chainlink, Momentum6, Borderless Capital, and Mindfulness Capital, the company leverages advanced blockchain measures to ensure efficiency and transparency in asset management. ZOTH – Fixed Income (ZOTH-FI), the technology behind the process, utilizes Stablecoins to enable a world of Institutional Grade Fixed Income opportunities for investors, offering a stable and sustainable yield.   

The finance industry is severely prone to fraud and theft, costing organizations billions of dollars in losses and non-compliance compensation. Money laundering and identity theft account for a significant part of these deceptions, deeming over $2 trillion and $56 billion in losses, respectively. 

Companies can ensure fraud protection and secure OnChain financial transactions through robust KYB and KYC solutions. Zoth, now incorporating Shufti Pro’s advanced protection measures, emerges as paramount in the industry with its industry-grade risk assessment. The platform offers transparency in tokenizing traditional assets for organizations, assisting in enhanced liquidity and capital flow.   

Koushik Bhargav, Co-Founder and CTO at Zoth said, “At Zoth, we strive for efficiency and sustainability. Partnering with Shufti Pro allows us to seamlessly verify both individuals and institutions within the same sandbox, ensuring cost-effectiveness and customization while aiming for smoother integration. Together, we anticipate achieving heightened security measures and streamlined processes to advance our goals.” 

Shufti Pro is an award-winning identity verification solution provider that swiftly and securely verifies individuals, businesses, and third parties. The platform is one of the forefront IDV service providers, delivering up to 99% accuracy in industries like FinTech. Partnering with progressive companies like Zoth can authenticate customers, identify companies, and prevent fraud risks for OnChain Finance. 

“Integration of our powerful KYB and KYC solutions with Zoth will enable secure off-shore trading and asset liquidity for SMEs, realizing Shufti Pro’s mission of financial security and fraud reduction,” said Patrick Cox, CEO of Shufti Pro.

Zoth has integrated both Know-Your-Business and Know-Your-Customer solutions of Shufti Pro in its process to ensure thorough verifications of individuals and institutions alike. With SP’s robust solutions, it anticipates improved risk management, enhanced compliance, and streamlined operations, ultimately bolstering trust and efficiency in its ecosystem.

About Zoth

Zoth is an emerging institutional fixed-income marketplace that connects DeFi with real-world assets, promoting liquidity and the free flow of capital. It aims to assist SMEs in global financing by enabling the influx of assets from traditional to Onchain finance. 

By leveraging the power of Blockchain technology, Zoth runs a decentralized model where investors and lenders can directly engage in interest-free transactions through a highly liquid and secured protocol. 

About Shufti Pro 

Shufti Pro helps businesses verify identities, documents, and accounts, covering KYC, KYI, KYB, and AML solutions. The company’s 17+ IDV solutions are trusted worldwide by 1000+ businesses belonging to industries varying from finance and crypto to insurance and e-commerce. Shufti Pro extends document verification in 150+ languages, with the ability to validate 10,000+ IDs in 240+ countries and territories.  

Adopting AI-focused automation and the latest technological tools, Shufti Pro secures business processes like client onboarding, account opening, and digitization through award-winning IDV services with an accuracy of up to 99%. 

For more information, please contact

Paul Keene
Snr. Digital Marketing Manager | Shufti Pro
paul.k@shuftipro.com
+44 020 3435 6498

Market Pro
Marketing Partner | Shufti Pro
Shuftipromedia@marketpro.ai 

London, UK – April 2, 2024 – AXIOMA, a well-known legal advisory and compliance management firm, has partnered with Shufti Pro, upgrading its service quality and becoming an official reseller. The partnership is set to revolutionize the Fintech industry through secure, AI-powered risk management and compliance procedures, with Shufti Pro’s KYB and KYC solutions at the forefront.  

AXIOMA is a legal consultation, assurance, risk, and compliance management firm that helps businesses achieve regulatory compliance. The company has rapidly expanded across the Caribbean region through its robust and future-forward solutions. Among commitment and continuous improvement, AXIOMA also focuses on collaboration as a core business value, partnering with valuable companies to pioneer its processes. Recently, the firm formed an alliance with Shufti Pro, integrating the latter’s smart solutions to improve the scope of its services.     

Stephen Geerman, MSc CIA – Managing Director and Founder of AXIOMA, said, “I am thrilled to announce our collaboration with Shufti Pro. This initiative is a significant milestone for us, aligning perfectly with our aim to deliver cutting-edge AI-driven onboarding, as well as AML, CFT, and fraud prevention throughout the Caribbean, ensuring our clients have access to the foremost tools to navigate the complexities of today’s business environment successfully.”

He added, “By integrating Shufti Pro’s innovative technology with our expertise and deep market insights, we are not just setting new standards of excellence but redefining the possibilities within our industry.”

Shufti Pro is an established identity verification solutions firm that leverages the power of AI to verify businesses and individuals across the regions. The company has been delivering cutting-edge KYB and KYC solutions in the Fintech industry, enhancing the security of transactions and onboarding for financial service businesses. 

“Integration of our services with AXIOMA marks an era of innovation for the financial consultation industry where companies can safeguard from identity theft and money laundering; a positive affirmation for our standard KYB and KYC solutions,” said Patrick Cox, CEO of Shufti Pro.

The multi-solution firm will now leverage Shufti Pro’s featured services, prominently KYB and KYC tools, to cater to its clients’ needs. This collaboration not only streamlines AXIOMA’s internal procedures but also significantly enhances its ability to maintain high regulatory standards. Moving forward, the company is all set to offer AI-driven seamless onboarding, AML, risk assessment, CFT (Counter Financing of Terrorism), and fraud prevention experience that meets the highest standards of accuracy and security, saving billions through compliance management. 

About AXIOMA 

AXIOMA is a financial consultation, compliance assistance, and risk management firm that helps businesses comply with legal regulations. Founded by Mr. Stephen Geerman in 2022, the company has established itself across Aruba, Curacao, Sint Maarten, and Suriname as a comprehensive solution provider for risk management, operational compliance, and legal regulations and consultation. The multidisciplinary team of experts at AXIOMA delivers client-focused services, leveraging technology and professional expertise to ensure regulatory compliance across industries.  

About Shufti Pro 

Shufti Pro helps businesses verify identities, documents, and accounts through robust KYC, KYI, KYB, and AML solutions. The company’s 17+ IDV solutions are trusted worldwide by 1000+ businesses belonging to industries varying from finance and crypto to insurance and e-commerce. Shufti Pro extends document verification in 150+ languages, with the ability to validate 10,000+ IDs in 240+ countries and territories.  

Adopting AI-focused automation and the latest technological tools, Shufti Pro secures business processes like client onboarding, account opening, and digitization through award-winning IDV services with an accuracy of up to 99%. 

For more information, please contact

Paul Keene
Snr. Digital Marketing Manager | Shufti Pro
paul.k@shuftipro.com
+44 020 3435 6498

Market Pro
Marketing Partner | Shufti Pro
Shuftipromedia@marketpro.ai 

Initially Published on The Paypers 

London, UK – November 27, 2023 – Shufti Pro, one of the leading IDV and KYC providers, shares a significant milestone with readers and the media. The platform has successfully attained a QG-GDPR certificate following a series of stringent assessments, validating Shufti Pro’s robust policies and data security measures to protect user data and provide transparency in data collection.

The QG-GDPR is an extension of the General Data Protection Regulation (GDPR) (Regulation (EU) 2016/679) that applies specifically to organisations that process, store, or utilise customer data for operational purposes. The certification obligates a business on how and what data they will store, process, and implement policies to secure it. Ultimately ensuring a robust data security firewall and 100% transparency in data collection.

According to a study by Forbes, global user data is worth $7.4 trillion, highlighting its incredibly high value. Therefore, governments worldwide are obligating organisations to implement secure protection measures for the data and to give the user control over what data the business collects from them. Shufti Pro recognises the importance of having a compliance standard and data processing framework to 

“Being one of the leading KYC and IDV providers, it was essential for us to give our customers trust and confidence that all of our consumer data is 100% secure with us. That’s why we considered a QG-GDPR certification, one of the most potent data privacy regulations that is acknowledged and trusted worldwide. It validates our commitment and efforts in securing customers’ data and giving them 100% transparency of our data collection,” said Victor Fredung, CEO of Shufti Pro.

Shufti Pro obtained the certificate after having a comprehensive audit from a renowned auditing firm. The company took diligent steps to meet QG-GDPR guidelines and obligations. This included an examination of processes for the collection and storage of customer data. The company also conducted a risk assessment against cyber attacks and implemented robust measures, both physically and digitally to prevent data breaches. Shufti Pro, earlier this year, attained renowned data regulation certifications, including GDPR, ISO 27001:2013, and CCPA. 

About Shufti Pro

Shufti Pro is a leading IDV service provider offering KYC, KYB, KYI, AML, biometric verification, and OCR solutions, accelerating trust worldwide. It has seven international offices and has launched 17+ complimentary IDV products and solutions since its inception in 2017. With the ability to automatically and securely verify over 10,000 ID documents in more than 150+ languages, Shufti Pro proudly serves customers in 240+ countries and territories.

For more information, please contact:

Paul Keene
Snr. Digital Marketing Manager | Shufti Pro
paul.k@shuftipro.com
+44 020 3435 6498

Market Pro
Marketing Partner | Shufti Pro
Shuftipromedia@marketpro.ai

London, UK – November 29, 2023 – Shufti Pro, a globally trusted identity verification service provider, has announced its latest on-demand webinar on “Protecting our Youth: The Role of IDV in Ensuring Secure Gaming.” It examines the gaming industry’s complex and evolving identity verification landscape and the modern challenges that video game businesses face regarding online fraud. The webinar is scheduled for December 12th: 14:00 – 16:00, hosted by Ivan Kurochkin – Partner and Head of Eastern Europe Desk, 4H Agency.

According to a recent Statista report published in November 2023, the video gaming industry is valued at $406 billion, making it one of the top-grossing digital industries in the world. However, with an increased concentration of people and revenue, there tends to be an increased number of fraudsters, and the video gaming industry is not an exception to this trend. According to the study of Tkxel, the gaming industry is one of the most impacted industries due to online scam attempts that cause millions of dollars loss every year to gamers. 

Shufti Pro is taking an integral step in raising the voice on the importance of a reliable KYC platform. The upcoming webinar holds great significance for security and risk management leaders in the video gaming industry, providing insights into the financial risks associated with a weaker KYC system. It explores how global businesses are adopting electronic identity verification firewalls to fight financial fraud in gaming through impersonation attempts.

“Every year, millions of gamers fall victim to account takeovers and financial fraud attempts, a trend that escalates rapidly. We are raising a voice through our webinar on the threats posed by online fraudsters in the video gaming world. It’ll also underscore the value of KYC firewall in the gamer’s onboarding and ongoing process,” said Victor Fredung, CEO of Shufti Pro.

Key Takeaways

• Statistics and figures on the impersonation scams in the gaming industry
• How businesses can tackle the challenges in the IDV industry
• Role of KYC in combating fraud from the gaming sector and preventing underage gamers from accessing the platform 
• How Shufti Pro’s IDV solutions can help businesses deter scams

About Shufti Pro

Shufti Pro is a leading IDV service provider offering KYC, KYB, KYI, e-IDV, AML, biometric verification, and OCR solutions, accelerating trust worldwide. It has seven international offices and has launched 17+ complimentary IDV products and solutions since its inception in 2017. With the ability to automatically and securely verify over 10,000 ID documents in more than 150+ languages, Shufti Pro proudly serves customers in 240+ countries and territories.

For more information, please contact:

Paul Keene
Snr. Digital Marketing Manager | Shufti Pro
paul.k@shuftipro.com
+44 020 3435 6498

Market Pro
Marketing Partner | Shufti Pro
Shuftipromedia@marketpro.ai

Initially Published on Pr.com

London, UK – November 27, 2023 – Shufti Pro, one of the leading KYC, KYB, and AML screening providers, is announcing an update regarding its primary services. The company is unveiling an enhanced face verification solution that is more precise, accurate and deters spoofing attempts better than ever before. The all-new platform now incorporates 3D depth perception and liveness detection that’s powered by the proprietary machine learning algorithm of Shufti Pro, aiming to eliminate the modern ID scam attempts from the digital economy.

According to the 2023 report of Ofcom.org, around 9 out of 10 internet users have come across content they suspect to be a scam. The report also states that 51% of surveyed people have fallen victim to an impersonation scam at least once in their lifetime. It’s the most recent report, and these statistics represent the immense market of online scams and how it’s affecting the daily livelihood of internet users. 

Scammers are even becoming more sophisticated through the generative AI, making it easier for them to bypass conventional biometric systems. Shufti Pro has taken exhaustive steps to deter rising numbers of fraudsters from engaging in malicious activities and harming internet users financially and privacy-wise. The cross-industry platform can now deter all modern impersonation scams with an accuracy of up to 99% whilst maintaining a user experience rate of up to 98%. 

“Shufti Pro has always been working to enable organisations to accurately establish, maintain, and reassert customers from onboarding to ongoing monitoring. Our all-new platform can now prevent fraud attempts of generative AI and deepfakes with more precision than ever before, fortifying businesses against the growing cybercrime concerns,” said Victor Fredung, CEO of Shufti Pro. 

Key features include:

• AI mapping to accurately identify human features.
• Microexpression analysis to analyse human expression, such as blinking and smiling.
• 3D depth analysis to identify the depth of human features, capable of identifying deepfake attempts with 100% accuracy.
• Easy selfie verification with support for 10,000+ IDs.

About Shufti Pro

Shufti Pro is a leading IDV service provider offering KYC, KYB, KYI, e-IDV, AML screening, biometric verification, and OCR solutions, accelerating trust worldwide. It has seven international offices and has launched 17+ complimentary IDV products and solutions since its inception in 2017. With the ability to automatically and securely verify over 10,000 ID documents in more than 150+ languages, Shufti Pro proudly serves customers in 240+ countries and territories.

For more information, please contact:

Paul Keene
Snr. Digital Marketing Manager | Shufti Pro
paul.k@shuftipro.com
+44 020 3435 6498

Market Pro
Marketing Partner | Shufti Pro
Shuftipromedia@marketpro.ai 

Initially published on PR.com

London, UK – November 22, 2023 –  Shufti Pro, one of the leading IDV and KYC providers, is unveiling its all-new enhanced fraud prevention solution that utilises AI-predictive analytics to identify scam patterns with better accuracy than before. The aim is to mitigate the evolving tactics of fraudsters to foster trust worldwide and eradicate online fraud in the digital world.

According to the report of iii.org, the FBI received over 800,944 reports of online fraud in 2022, costing over $10.2 billion in loss and a median of $500 per victim. The same report also mentioned that online fraud impacts over 422 million people in the USA alone. These statistics validate the need for a powerful, sophisticated, and trusted fraud prevention solution. 

Shufti Pro’s state-of-the-art solution utilises machine learning and artificial intelligence solutions to spot fraud and high-risk entities by running thorough security checks from multiple sources, both official and trusted unofficial. It enables businesses to safeguard operations from fraudsters and ensure a secure user onboarding experience.

“After identifying the fraud statistics, we recognised the importance of having a potent fraud prevention solution so businesses can detect fraudulent entities on the spot. Our solution incorporates a proprietary machine-learning algorithm that uses predictive analysis to determine fraud patterns with more refinement and accuracy than before. It allows organisations to do safe, trusted, and protected business processes worldwide,” said Victor Fredung, CEO of Shufti Pro.

The platform incorporates multiple anti-fraud features, including 3D depth perception for face verification to detect deepfake deception and masking attempts with an accuracy rate of up to 99%. For AML screening, Shufti Pro validates the entity from government-approved databases, ensuring that the entity is legitimate and free from money laundering and other potential risks. Earlier this year, the company also launched e-IDV, a significant step towards annihilating fraud from the world through using government-issued e-IDs for verification, making businesses securer and accelerating trust worldwide.

About Shufti Pro

Shufti Pro is a leading IDV service provider offering KYC, KYB, KYI, AML, biometric verification, and OCR solutions, accelerating trust worldwide. It has seven international offices and has launched 17+ complimentary IDV products and solutions since its inception in 2017. With the ability to automatically and securely verify over 10,000 ID documents in more than 150+ languages, Shufti Pro proudly serves customers in 240+ countries and territories.

For more information, please contact:

Paul Keene
Snr. Digital Marketing Manager | Shufti Pro
paul.k@shuftipro.com
+44 020 3435 6498

Market Pro
Marketing Partner | Shufti Pro
Shuftipromedia@marketpro.ai

Initially published on PR.com

London, UK – November 20, 2023 – Shufti Pro, one of the leading IDV, KYC, AMl screening, and risk assessment solution providers, is announcing an important update regarding its operation with stakeholders, media, and readers. The platform is expanding its reach to the telecommunication industry, allowing telecom operators to securely verify the authenticity of their customers and eradicate fraud and scam calls from the industry. 

According to a report by M3AAWG.org, $40 billion was lost due to phishing, terrorist financing, money laundering SIM exchange fraud, and illicit activities. One more report from Truecaller suggests that scam calls alone are a $29 billion industry, and every month, almost 3 billion scam calls are made. The primary cause behind the boom is uncompetitive and weak KYC, allowing fraudsters to take advantage of this loophole. 

Telecom operators need to maintain regulatory compliance to prevent the misuse of their telecommunication network, including terrorist communication and scam calls. Identifying the gap in this industry, Shufti Pro has taken a step to revolutionise and eradicate fraud by expanding its services into the telecom industry. The platform now enables the operators to prompt their users for facial biometrics and document verification to collect all the legal information of the customer and ensure that the user is legitimate before onboarding it.

“Being one of the leading anti-fraud and KYC providers, we recognise that telecommunication carries the highest rate of fraud and number of scammers, compromising consumers worldwide. Our state-of-the-art KYC provides spoof detection accuracy of up to 100%, ensuring only genuine customers can be onboarded whilst providing a customer satisfaction rate of up to 98%,” said Victor Fredung, CEO of Shufti Pro.

The platform utilises advanced depth perception technology and liveness detection, backed by machine learning and artificial intelligence that can deter fraud with up to 99% accuracy and completes the verification in 5 seconds. Additionally, businesses can incorporate 2FA authorisation to prevent unauthorised access to their user’s sim through a custom OTP message, helping to establish trust and security in the global telecommunications industry.

About Shufti Pro

Shufti Pro is a leading IDV service provider offering KYC, KYB, KYI, AML screening, biometric verification, and OCR solutions, accelerating trust worldwide. It has six international offices and has launched 17+ complimentary IDV products and solutions since its inception in 2017. With the ability to automatically and securely verify over 10,000 ID documents in more than 150+ languages, Shufti Pro proudly serves customers in 240+ countries and territories.

For more information, please contact:

Paul Keene
Snr. Digital Marketing Manager | Shufti Pro
paul.k@shuftipro.com
+44 020 3435 6498

Market Pro
Marketing Partner | Shufti Pro
Shuftipromedia@marketpro.ai

Initially Published on PR.com 

London, UK – November 17, 2023 –  Shufti Pro, one of the leading IDV, KYC, and AML screening providers, is announcing a significant update in the development of its biometric section. The platform is now capable of processing face authentication in only 5 seconds, before this, it was completed in 30 seconds.

This development aims to reduce the waiting and processing time of the verification, ultimately, increasing the user experience and reducing bounce rate.

According to the latest 2023 report of IdentityTheft.org, the median loss to ID fraud victims is $500, which will increase as people become more digitally dependent. The same report also suggests one successful identity scam every 22 seconds worldwide, making it a $10.2 billion industry. The primary cause of this enormous scam market is the weak implementation of KYC and easy-to-bypass biometric verification. Shufti Pro, a leading identity verification provider, recognises the issue of the need for a secure and robust biometric verification system. The new and improved biometric solution processes the user’s face authentication in less than 5 seconds with a spoof protection rate of up to 100%.

“Identity theft is a concerning issue, and with the deepfake technology, it’s driving a new wave of online fraud. Shufti Pro is playing an essential role in mitigating the fraud risks and IDV fraud by offering state-of-the-art facial biometric authentication that offers the lowest processing time of 5 seconds and clone detection of up to 97%, making us one of the most trusted and powerful IDV providers” said Victor Fredung, CEO of Shufti Pro.

The platform incorporates advanced 3D depth perception technology backed by Shufti Pro’s proprietary machine learning algorithm that deters spoofing attempts of up to 100%. Along with facial verification, Shufti Pro offers a complete suite of KYC and KYB, including risk assessment, AML screening, 2FA, e-IDV, address verification, and document verification, empowering businesses to foster trusted and secure user onboarding.

About Shufti Pro

Shufti Pro is a leading IDV service provider offering KYC, KYB, KYI, AML, biometric verification, and OCR solutions, accelerating trust worldwide. It has seven international offices and has launched 17+ complimentary IDV products and solutions since its inception in 2017. With the ability to automatically and securely verify over 10,000 ID documents in more than 150+ languages, Shufti Pro proudly serves customers in 240+ countries and territories.

For more information, please contact:

Paul Keene
Snr. Digital Marketing Manager | Shufti Pro
paul.k@shuftipro.com
+44 020 3435 6498

Market Pro
Marketing Partner | Shufti Pro
Shuftipromedia@marketpro.ai

Initially Published on Businesswire

The report states, “Identity verification helps deliver security, compliance and trust across use cases. Security and risk management leaders must differentiate between vendors based on features that augment core identity verification, novel implementation approaches and the ability to handle AI-enabled attack vectors.”

London, UK – November 15, 2023 – Shufti Pro has been recognised as a Representative Vendor in the 2023 Gartner Market Guide for Identity Verification, published on September 7th, 2023.

The report states, “A KYC program fits into an organisation’s broader anti-money laundering (AML) program. Thus, identity verification is a pillar of KYC, but identity verification alone is not KYC.”

The users can read and download the report (For Gartner subscribers only).

Citing the Report’s Criteria for Selecting the Vendor

Shufti Pro was highlighted among the other identity verification providers in “Note 2: Representative Vendor Selection” on Page 17. 

“We’re witnessing all the stats and information pertaining to growing threats provided in the report, happening in the real world, which is alarming. Being one of the fastest-growing IDV providers, our aim is to eradicate online fraud from the digital industry. In the future, Shufti Pro’s focus will be to improve IDV measures, aiming to eliminate online fraud across the industries,” said Victor Fredung, CEO of Shufti Pro.

Shufti Pro – Accelerating Trust Worldwide

Shufti Pro’s identity verification solution helps deliver trust to clients that the user they are onboarding and dealing with is a legitimate identity. It fortifies businesses against the growing threat of financial crime across various industries whilst enabling businesses to comply with regulatory bodies. The company uses a propriety machine learning algorithm, “Shufti Pro’s Three Layer AI Model,” capable of detecting spoofing and deepfake attempts with an accuracy of up to 99%.

Shufti Pro’s Three Layer AI Model

The company uses an innovative three-layer model to ensure the verification is accurate to the highest level, building trust among businesses and eliminating deepfakes. It includes:

• AI (1st layer)
• Human review (2nd layer)
• Quality Check (3rd layer)

Gartner, Market Guide for Identity Verification, 7 September 2023

Disclaimer: Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. 

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

About Shufti Pro

Shufti Pro is a leading IDV service provider offering KYC, KYB, KYI, AML, biometric verification, and OCR solutions, accelerating trust worldwide. It has seven international offices and has launched 17+ complimentary IDV products and solutions since its inception in 2017. With the ability to automatically and securely verify over 10,000 ID documents in more than 150+ languages, Shufti Pro proudly serves customers in 240+ countries and territories.

For more information, please contact:

Paul Keene
Snr. Digital Marketing Manager | Shufti Pro
paul.k@shuftipro.com
+44 020 3435 6498

Market Pro
Marketing Partner | Shufti Pro
Shuftipromedia@marketpro.ai