Prevent identity fraud

Ensure you always know who’s at the other end of the line. Remote interactions may be prone to identity fraud if you lack reliable tools to confirm the identities of your clients, partners, or other parties you correspond with. Evrotrust’s comprehensive electronic identity verification solutions will put all doubts to rest. With ID document verification, facial recognition, and built-in AML compliance, we ensure your files, products, and services always reach the right person.

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How Evrotrust helps you prevent identity theft

Advanced ID document checks

Evrotrust goes above and beyond when it comes to checking the authenticity of the ID documents your customers upload. Our AI-powered solution extracts personal details via NFC or OCR first. Then, we compare this information with local authorities’ registries to ensure its validity. We can confidently weed out expired or falsified identity documents.

Manual verification

We take things further, sending identification requests to our expert staff for manual verification. They double-check that the user who passed the ID and facial recognition scan is, indeed, who they say they are. Evrotrust may undertake additional steps in high-risk scenarios for maximum security and accuracy.

Full AML, KYC, and KYB compliance

As an eID scheme certified by the eIDAS regulation, Evrotrust is in alignment with the latest AML, KYC/KYB, CFT, and other legislation pertinent to identity verification procedures. Thus, you don’t need to invest in additional compliance services. Moreover, we bear the legal responsibility for wrongful identification, freeing your business from liability.

Common examples of identity fraud

What does identity fraud look like online? Here are the most common categories of identity misrepresentation and manipulation:

Composite Identities: Also known as synthetic ID, this activity involves the identity thief presenting ID documents that contain both real and fake info. This scheme aims to avoid detection by mixing some true details (for example, the social security card number) with fake data.

Age Fraud: Minors may attempt to access age-restricted services by manipulating the date of birth on their ID documents.

Compromised Online Accounts: In this case, someone other than the rightful account or ID document owner is attempting to log in or register without authorization.

Money Laundering: Sanctioned individuals, PEPs, and other high-risk customers may use identity fraud to gain access to financial services.

To prevent identity fraud, you need to implement a thorough and trustworthy ID verification process as part of your organization’s KYC and KYB strategies. Moreover, you must also ensure AML compliance to avoid servicing blacklisted persons or organizations.

Learn how to achieve this with Evrotrust’s help.

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Success stories

See why 300 blue chip organizations and over a million active users in the mobile application rely on Evrotrust:

Financial services
Public services
Telecom
Education

Financial services

“Evrotrust is the first company of its kind in Europe that offers remote and qualified e-identification along with the full package of information services – e-signature, e-delivery, e-timestamps, e-authorization and validation.
The partnership between Evrotrust and Mastercard is proof of the unlimited scale that Bulgarian companies can reach.”
Vanya Manova
Mastercard Country Manager for Bulgaria, Republic of North Macedonia, Albania and Kosovo at Mastercard

Evrotrust’s innovative solutions help DSK Bank to provide more sophisticated and modern digital services to our clients. Thanks to our partnership we create added value for our clients, saving their time and efforts. With the digital certificates of Evrotrust our clients can use a wide range of services that do not require personal visits in our offices – applying, receiving and using consumer loans, signing an additional agreement on an already granted loan, remote solutions for operations that require a handwritten signature, etc. This allows us to improve constantly our services and to automate some processes in the bank.
Vasil Dimitrov
Head of Implementation of initiatives and projects at DSK Bank

Public services

Burgas Municipality offers a lot of electronic services that are available not only with standard e-signatures and Universal Electronic Signature (UES) of the National Revenue Agency, but also through Evrotrust’ s e-identification. Our statistics show that in 2019 e-services have increased by 15% compared to 2018, and by the end of 2020 we expect an increase of 40% compared to 2019. It is very useful to have alternatives for access to e-services in COVID-19 pandemic. It is also a convenience for consumers. Using Evrotrust does not require a visit to an office to issue a certificate in difference with other certification service providers. So, the use of Evrotrust’ s e-services is the most modern and appropriate solution.
Engineer Atanas Sirekov
Head of Information Services and Technology at Burgas Municipality

We become the first Bulgarian pension company that enables people to choose and change their pension fund through smartphones thanks to Evrotrust. Thousands of people benefited.
Andrey Shotov
CEO at PAD Budeshte

The digitalisation of services is inevitable and it is crucial for us to have a reliable partner in this process. It is very important for our company to provide an online opportunity for all insured persons to become our clients without going through clumsy and costly offline procedures. In addition it is very important for all our clients to have constant access to the information about their account and to be able to benefit from the services we provide in the portal Moeto Doverie. It is easy with an e-signature. The partnership with Evrotrust is of inestimable value for the successful implementation of this project. I am pleased to note that the result of our joint work consists of all the characteristics we are looking for – fast, convenient, user-friendly and complying with all modern requirements for personal data protection.
Daniela Petkova
Chairman of the Management Board at PAC Doverie

Telecom

As a successful and reliable business partner in Bulgaria, Telenor has always strived to meet the needs and expectations of its clients. So, we are upgrading constantly and adding value to our services by providing innovative solutions. In partnership with Evrotrust, we have been able to provide a digital application that brings comfort, security and freedom of action to our clients. E-signing of documents is extremely important for them as the need for flexibility and speed in daily life are growing. In addition, it is another way to support our long-term strategy for environmental sustainability.
Vladimir Hristov
Head of Business sales and marketing at Telenor Bulgaria

We are glad that Evrotrust is our partner in providing “One Click” A1 electronic signature. The application allows A1 clients to view and sign documents through smartphone easily, conveniently and independently of their location. The service is innovative and allows us to sign easily and quickly contracts through a qualified electronic signature (QES) without visiting our store. It is completely safe and free through smartphone or tablet. Services like “One Click” A1 electronic signature help our clients be responsible to the natural environment, but also for greater safety in COVID-19 pandemic. It is important to us that together with Evrotrust, we provide our customers with the opportunity to prove quickly, easily and securely their identity in banks, telecom operators and government institutions.
Valentin Stoev
Senior Project Manager at А1

Education

Using Evrotrust’s services University of National and World Economy (UNWE) conducted entrance exams, as well as implemented an online new students enrollment system. Evrotrust helps us in the processes of identification and authentication of the candidates and of the new students. We tried a lot of opportunities for facial and ID card recognition that worked very well. The system worked smoothly and Evrotrust’s employees supported us when it was necessary. All financial issues were settled quickly and correctly, so we would continue the cooperation with Evrotrust.
Prof. Sc.D. (Econ) Valentin Kisimov
Director of the Center for Computer Innovative Systems at UNWE

FAQ

What is identity fraud?
How to prevent identity fraud?
What are Evrotrust’s benefits for identity fraud prevention?
Does identity verification eliminate fraud?

What is identity fraud?

Identity fraud occurs when a person or another legal entity uses the personal or financial information of another person or entity to pose as them without authorization. In this way, they may try to claim a product or service or undertake a financial obligation in someone else’s stead without consent.

How to prevent identity fraud?

The most optimal way to prevent identity fraud as a business is to carry out due diligence with your KYC and KYB processes. To prevent suspicious activity, you need to subject your prospective customer to proper identity verification.

With in-person transactions, this procedure usually requires an authorized staff member to check the ID document of the customer and assess whether it is valid and if it belongs to the person standing before them.

However, electronic identification presents a few challenges. For example, someone may be using a stolen or fake ID document or unlawfully acquired sensitive information that doesn’t belong to them.

Thus, subjecting customers to in-depth electronic verification is a must. Businesses ought to check the validity and authenticity of customers’ ID documents. Also, they can employ liveness checks to ensure the person behind the screen is the rightful document owner.

What are Evrotrust’s benefits for identity fraud prevention?

Our eID solution is thorough and user-friendly, allowing you to quickly and reliably identify remote customers without harming the user experience.

In particular, Evrotrust:

Can scan ID documents via NFC and OCR technology to quickly extract personal data;
Compares this data against the relative government registries to ensure the document is authentic and valid;
Evaluates the personal data collected to determine the risk level of the customer. This includes checking if they are politically exposed, present on sanctions lists or otherwise ineligible to apply for your services;
Takes customers through an AI-powered liveness check with facial recognition;
Manually verifies that all of the personally identifiable information is accurate before finalizing the identity verification.

Since we are an eID scheme recognized under the eIDAS regulation, we bear full legal liability for the ID verification process, absolving your company from culpability in case of a wrongful identification.

Does identity verification eliminate fraud?

With technological advancement, the means of committing identity fraud are constantly evolving. Nevertheless, Evrotrust is hard at work to stay ahead of these developments. Our software boasts robust security and can significantly help in lowering the chances of identity fraud.

Shut the door to identity fraud

Secure your business with Evrotrust’s eIDAS-qualified trust services.

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