#Japan #Tokyo #Identity Verification #LIQUID eKYC #Multiple Accounts Prevention

Liquid's New Anti-Fraud Feature in eKYC

In a strategic move to reinforce its online identity verification service, Liquid Corporation, headquartered in Chuo-ku, Tokyo, has unveiled a new feature designed to prevent the fraudulent creation of multiple accounts. This feature, aptly named the "Multiple Account Creation Prevention Function," aims to minimize dishonest activities frequently seen during marketing campaigns. By enabling businesses to determine if users are the same individual without holding personal data, Liquid is setting a new standard in user verification and fraud prevention.

The Need for Enhanced Fraud Prevention

As promotional campaigns involving point distribution and lotteries have become commonplace, the issue of individuals creating multiple accounts for unfair advantage has surfaced prominently. Some cases have reported individuals managing thousands of accounts to exploit these offers, depriving legitimate users of their rightful rewards. This unsettling trend has necessitated the implementation of advanced security measures to protect genuine users and ensure a fair playing field.

Overview of the Multiple Account Prevention Function

The newly launched feature allows businesses to authenticate users through the LIQUID eKYC service and assess whether any discrepancies exist with the names or birth dates of previously registered users. This evaluation aids in eliminating fraudulent users while affirmatively serving legitimate customers.

Key Features

1. No Need to Store Personal Information: By utilizing LIQUID eKYC results, businesses no longer need to retain confidential user data. They can simply cross-reference historical identity verification data to identify potential fraud.

2. Compatibility with Diverse Verification Methods: The feature supports various verification techniques, including photo capture and public key infrastructure (JPKI), enabling cross-referencing of information from multiple identity documents such as national ID cards and driver's licenses.

3. Robust Data Matching: The function is designed to handle variations in data, accommodating changes such as surname alterations after marriage or discrepancies in name formatting.

Practical Applications

The Multiple Account Creation Prevention Function proves beneficial in various scenarios, particularly in situations where there is no legal obligation for identity verification. Its primary uses include:

• - Countering fraudulent applications in point campaigns involving extensive account creation.
• - Optimizing user management through accurate data matching.
• - Centralizing identity management across multiple services, thereby promoting a unified user ID system.
• - Ensuring that existing registrants can utilize their profiles across different channels or devices without issue.
• - Verifying the identity of existing users against newly emerging users in terms of identity authenticity.

LIQUID's eKYC: Industry Leader

Liquid's eKYC service has been recognized for achieving the highest market share in the eKYC sector for six consecutive years, according to ITR's market view. The service simplifies the identity verification process required for online contracts and account registrations, by enabling users to verify identity through scanning identification documents or reading IC chips integrated with a self-portrait. Moreover, it caters to age verification checks such as student discounts. Leveraging proprietary AI, biometric recognition, and OCR technology, Liquid ensures low dropout rates during the verification process.

With approximately 130 million cumulative identity checks and around 600 partner companies, Liquid is revolutionizing how identity verification and fraud prevention are approached in the digital age.

About Liquid Corporation

Liquid is committed to harnessing biometric technology to create a seamless society where individuals can access services safely and easily. The organization is poised to provide cross-industry fraud detection mechanisms that bridge various sectors, ensuring maximum security and convenience for users.

Founded in December 2018, Liquid continues to innovate with solutions such as LIQUID eKYC, LIQUID Auth, and LIQUID Shield, catering to the evolving landscape of digital identity and security needs.
For more information, visit their website.