In this digital age, it is now expected that even the smallest of business start-ups have some form of online presence and, therefore, a connection to the global marketplace. The Internet, innovations in online payments and the convenience of global distribution make an international customer base an expectation for most businesses. However, although e-commerce has made international transactions an everyday reality, it has also made international security measures a necessity.
While methods of online security can easily be standardized, document verification services it is important for the business owner to consider the wide variety of identifying credentials used by consumers all over the world. An international identity verification toolset should not only verify consumer identity using reputable data sources and globally applicable credentials, but should also do so in a way that satisfies international conventions and keeps business running smoothly. In this article, we’ll address why these are important points to consider when protecting your international business against fraud.
Your international consumer’s identifying information is as unique as his or her country of origin. However, every individual capable of traveling or conducting business abroad can be issued a passport by his or her native government. Spring boarding from this official, confirmable document, your international identity verification tool should be able to confirm the identity of an international customer by using reliable data source providers to match information to his or her passport.
International money laundering conventions are present and require administration and compliance just as those present in the U. S. PATRIOT Act and Bank Secrecy Act. Provided that your business is seen as applicable by the United Nations, it is important that any international identity verification services you choose to employ meets or exceeds the standards for international money laundering prevention compliance.