KYC fraud: Voter ID cards have highest tamper rate, claims report
KYC fraud: Voter ID cards have highest tamper rate, claims report
IDfy, India's Integrated Identity platform, releases report on 'KYC Risks in Lending' revealing fraudulent behavior during onboarding procedures. 1 in 14 loan applicants attempt to deceive KYC checks. Most forged IDs: Voter ID (6.78%), PAN cards (3.84%), Aadhaar cards (3.11%). 39% of applicants have name-ID mismatches, 7.6% submit failed liveness check photos. Field investigations show fake employment certificates can be produced for Rs 20,000, enabling 14% of applicants to lie about employment. 18% of applicants never receive collection emails. IDfy's report aids risk management, fraud prevention, regulatory compliance. CEO Ashok Hariharan highlights API hits, data patterns, anomalies as key insights.
IDfy, India's Integrated Identity platform, releases report on 'KYC Risks in Lending' revealing fraudulent behavior during onboarding procedures. 1 in 14 loan applicants attempt to deceive KYC checks. Most forged IDs: Voter ID (6.78%), PAN cards (3.84%), Aadhaar cards (3.11%). 39% of applicants have name-ID mismatches, 7.6% submit failed liveness check photos. Field investigations show fake employment certificates can be produced for Rs 20,000, enabling 14% of applicants to lie about employment. 18% of applicants never receive collection emails. IDfy's report aids risk management, fraud prevention, regulatory compliance. CEO Ashok Hariharan highlights API hits, data patterns, anomalies as key insights.
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IDfy, India's Integrated Identity platform, releases report on 'KYC Risks in Lending' revealing fraudulent behavior during onboarding procedures. 1 in 14 loan applicants attempt to deceive KYC checks. Most forged IDs: Voter ID (6.78%), PAN cards (3.84%), Aadhaar cards (3.11%). 39% of applicants have name-ID mismatches, 7.6% submit failed liveness check photos. Field investigations show fake employment certificates can be produced for Rs 20,000, enabling 14% of applicants to lie about employment. 18% of applicants never receive collection emails. IDfy's report aids risk management, fraud prevention, regulatory compliance. CEO Ashok Hariharan highlights API hits, data patterns, anomalies as key insights. 
