authenticID has announced new enhancements to its CatfishID identity proofing solution that make it even harder for fraudsters to use cloned credit cards.
CatfishID combines authenticID’s sizable library of government-issued identification cards with techniques to verify micro prints, read bar code and magnetic stripe data, and make front-to-back card data comparisons. This provides an additional layer of verification that makes once major source of credit card fraud – cloned cards – that much more difficult to pull off.
This technology – automated forensic document authentication (AFDA) – is not new, according to the company. But what is innovative is the way authenticID is deploying the technology to the specific task of detecting fraudulent or counterfeit identification.
Blair Cohen, CEO of authenticID said, “We are the only technology company specializing in identity authentication offering a solution that eliminates the use of a cloned credit card.”
Learn more about CatfishID here.
Based in Atlanta, Georgia, authenticID was founded in 2012. The company demoed its PictureID technology as part of the FinovateFall 2013 show in New York.