Last week, the Daily Mail Australia warned Australians of a scam email requesting receivers verify their identity to receive a tax refund.
“Australians have been warned to be on high alert as a scam offering a tax refund in the New Year hits hundreds of inboxes around the country. The email read; ‘As a result of examination, we have made adjustments to your income to your tax return for the tax year ending 12-2019. To protect you from identity theft we need to verify your identity before we process the return and issue a refund. Please complete the identity verification process below.’”
While scam emails are not new, requesting enough documentation to verify an identity shows just how far scammers will go to defraud innocent people. This highlights the importance of knowing who you client is and if it is indeed them you are communicating with. Ask yourself, is this person who they say they are?
For lawyers and conveyancers, it is crucial they can lean on their technology provider to help accurately and securely verify a client’s identity.
The Commonwealth Bank of Australia predicted that in 2020-2021, 76% of the legal market intended to increase spending on IT hardware, software and cyber security. Meanwhile, 50% of InfoTrack clients complete their Verification of Identity (VOI) checks through remote, technology driven channels. This means lawyers and conveyancers are seeking a convenient method to verify the identity of their clients, and they have confidence in what technology providers offer as a solution to combat identity fraud and cybercrime.
This trend towards remote verification raises just how important it is to ensure due diligence is completed accurately and with ease. According to ARNECC, “The purpose of carrying out verification of identity is to reduce the risk of identity fraud and the registration of fraudulent land transactions.”
With the ARNECC Verification of Identity standard, it is important that identity verification solutions either meet the standard or help lawyers and conveyancers take reasonable steps to do so.
InfoTrack’s remote VOI solution, WebVOI, offers lawyers and conveyancers four layers of identity verification smarts including:
- Australian Government checks:
Eligible identity documents are sent to the national verification service which compares them to Australian Government records to confirm the details are valid.
- Facial recognition:
Facial recognition technology detects facial patterns and matches images regardless of angle, posture, lighting, facial hair of whether the user is wearing glasses.
- Optical Character Recognition (OCR):
Text is extracted from images and auto-populates the data into our WebVOI platform to ensure identifying information is recorded accurately and quickly. This means no manual data entry saving you time and reducing the possibility of human error.
- Video verification:
The newest WebVOI feature, video verification, allows your clients to video themselves speaking a randomly generated code. It serves as an extra layer of verification increasing your confidence that your clients really are who they say they are.
These premium features are a first for the Australian legal industry and help to combat the rising number of fraudsters looking to target the property industry.
To help lawyers and conveyancers feel confident they can accurately complete their due diligence, InfoTrack is offering the opportunity to try WebVOI this month with our compliments. It’s our way of combating identity fraud.
For new clients, to order your complimentary WebVOI, start using InfoTrack today. No commitment, no subscription.
For current clients, login and order your complimentary WebVOI now.