Protect against emerging fraud read Switch to document-centric identity verification. Thanks to numerous data breaches, traditional, self-reported identity verification that is reliant on data is no longer reliable. Businesses are instead embracing a document-centric process as a more secure approach to identify verification. Document-centric verification requires consumers to upload a government-issued identifying document (e.g., drivers’ license) along with a selfie to confirm their identity. Organizations are adopting document-centric verification at a rapid rate. Adopt biometric authentication. Biometrics is a very precise, specific measurement that uses physical characteristics to authenticate that a person is who they claim to be. Consumers are becoming more comfortable with using biometric screenings like fingerprint scanning, facial recognition and iris scanning as a better way to validate identity than a password-only approach.Develop a fraud-scoring model. Use red flag indicators to score transactions on your e-commerce site or during customer onboarding. Assign points based on risk, including mismatched billing and shipping addresses, incomplete customer details, or higher-than-average order volume, for example. If multiple flags are raised, closely investigate the transaction or contact.Automate processes that require identification. With embedded fraud-detection tools, automation can be a powerful weapon against criminals. For example, automated accounts payable tools can match submitted invoices and purchase orders against account data on file, rejecting suspicious requests. They also make it harder for individuals to forge approvals or backdate transactions. Dual-factor authentication to prevent account takeovers is commonly available with these solutions.Implement adaptive authentication. Like multifactor authentication (MFA), adaptive authentication is used for identity verification. But adaptive authentication analyzes a request based on factors like geolocation, behavior, device type and risk. It automatically asks for additional information for high-risk interactions. Adaptive authentication not only offers greater security but can also reduce friction and increase conversion. The reason is that, unlike MFA, every day or low-risk users won’t require multiple layers of authentication each time they sign in.Engage employees. Continual education it is a tried and true fraud prevention strategy. Employees are either your first line of defense or a weak link in mitigating theft. Train all employees on red flags and processes to follow if they suspect fraud. Most of all, make sure they know fraud prevention is a critical element of the company culture.