Biometrics to Help Organisations Fight Fraud
Posted 12.07.2017 Matthew Taylor
Biometrics are bringing all sorts of benefits to organisations around the world. They can be used internally to make day to day operations run smoothly and seamlessly – but one new report has highlighted how they could become vital in helping organisations tackle fraud.
Are biometrics the answer to fraud?
The report by the Call Credit Group, highlights the number of security breaches suffered by UK companies last year and the number of cases of identity theft. Some 65 per cent of large UK firms were hit by security breaches according to government statistics. And members of CIFA, a fraud protection organisation, suffered 170,000 incidents of identity fraud according to the company’s assistant director of insights, Sandra Peaston, who contributed to the report. She said:
“it’s unsurprising that organisations are looking to biometrics to help overcome this problem. If an organisation finds it has two different applications, in two different names, but both accompanied by the same fingerprint (for example), it can easily see that at least one of those applications is highly likely to be fraud.”
Biometric technolgy doesn’t only help to stop people fraudulently accessing someone else’s account, but it makes it a lot harder for frauds to set up multiple accounts too. In this way, biometrics are an answer to the fraud problem organisations face.
The power of biometrics
With biometrics, organisations can be sure the person related to each account is exactly who they say they are and no one else. And with the advancement of fingerprint technology into so many smartphones – implementing biometrics into organisations’ solutions is becoming more accessible all the time. Organisations obviously don’t want to create sign-up or log-in procedures that are inconvenient and turn customers away before an account is made, but more and more people are comfortable with biometric technolgy than ever before thanks to the mainstream spread of fingerprint biometrics in phones.
Here at BioStore, we deliver biometric solutions that increase levels of security and convenience for offices. Our solutions make the work office an incredibly simple and rewarding working environment. For example, an office canteen could be used with a simple quick scan, so employees don’t have to bring cash into work or wait in long queues. Find out more here.