OCR Labs Global has received UK Government certification as a digital identity service provider for Right to Work and Right to Rent checks.
The latest Cifas data shows that levels of fraudulent conduct increased by over 11 per cent in the first half of 2022. A large part of it is being attributed to identity fraud, with over 136,600 cases recorded – up a third compared to last year. The rising cost of living provides criminals with new opportunities to steal personal and financial information. The main sectors targeted are plastic cards and bank accounts, followed by utility companies.
According to the company, OCR Labs Global is the most accredited supplier of digital ID checks services in the market of the 13 companies accredited by the Department for Digital, Culture, Media and Sport’s (DCMS) to be certified for Right to Work, Right to Rent and criminal records checks.
OCR Labs Global has a proprietary deep learning engine that allows it to control the entire identity verification flow without human intervention using proprietary technology. The company is preventing, on average, 110 fraud cases per day (the equivalent of £65,000 per day) and stopping over 60 identity theft cases per day.
Russ Cohn, General Manager International for OCR Labs Global, comments, “We are delighted to be awarded UK Digital Identity & Attributes Trust Framework accreditation as we believe digital identity is the key to ensuring security, privacy, and convenience for people and businesses as they increasingly participate in the digital economy in an expanding remote world.
The move towards remote working has heightened the business need for technologies like ours that verifies a person’s identity to ensure trust between both parties. As digital transformation evolves, this will only put more stress and focus on the methods to tackle identity crime.
As the UK Digital Identity & Attributes Trust Framework evolves, we hope it will become the standard for both public and private industries.”
In addition to the UK accreditation, OCR Labs Global was the first private entity to be accredited under Australia’s digital identity trust framework (TDIF – Trusted Digital Identity Framework) and plans to achieve the Canadian ID certification by the end of 2022.
The company verifies 16,000+ identity documents in over 230 countries/territories and processes 142 typesets/languages, matching people with their government-issued IDs worldwide, helping fight fraud and remain compliant with identity verification requirements for Anti-Money Laundering (AML) and Know-Your-Customer (KYC).
OCR Labs Global is already supporting clients across many industries, including governments, crypto and various platform-based businesses, such as SaaS providers. Customers include Cognito, HSBC, Reed, Coinmetro and many other customers and partners.