admin

How-To-Prevent-Frauds-In-The-Banking-Sector

How to Prevent Frauds in the Banking Sector

Any nation is only as strong as its financial system, which is why this sector is important to the beginning and continuation of economic expansion. However, financial crimes and frauds present a substantial risk to the honesty of the banking industry. This blog will examine numerous types of financial fraud, the significance of pan card verification, and the best practices for preventing fraud in the banking sector. 

Understanding Banking Frauds

Banking frauds are white-collar crimes committed by individuals or groups taking advantage of loopholes in the banking system. These crimes often involve deceit, dishonesty, or manipulation to gain unauthorized access to financial resources or information. The impact of banking fraud can be widespread, affecting a bank’s reputation, causing financial losses, and ultimately slowing down the economy’s overall growth.

Types of Financial Frauds

  1. Loan fraud involves borrowers providing false information or documentation to obtain loans they do not intend to repay.
  2. Identity theft: Criminals steal personal information to impersonate someone and gain unauthorized access to accounts, credit cards, and other financial services.
  3. Phishing: Fraudsters send fake emails or text messages posing as a legitimate organization to trick recipients into providing sensitive data or clicking on malicious links.
  4. Card skimming: Thieves use devices to capture card information from ATMs or point-of-sale terminals and use the stolen data for unauthorized transactions.
  5. Money laundering: Criminals attempt to hide the origins of illegally obtained funds by passing them through a series of transactions, eventually integrating them into the legitimate economy.
  6. Insider fraud: Bank employees or partners collude with external parties to commit fraud or engage in unauthorized activities for personal gain.

Preventive Measures: Checks to Combat Financial Crimes

PAN Card Verification

PANan Card verification is crucial in identity verification and KYC (Know Your Customer). Pan Card verification helps banks and financial institutions confirm the authenticity of an individual’s identity and reduce the risk of financial fraud. A PANan Card numbers has ten digits which are unique to each individual. The Indian Income Tax Department issues this identification number to taxpayers in India. It serves as essential proof of identity and is mandatory for financial transactions, including opening bank accounts, applying for loans, and filing income tax returns. Verify the PAN number with the help of a PAN verification API to authenticate the individual’s identity.

Anti-money Laundering Solution

Under the Prevention of Money Laundering Act, conducting the KYC of the individuals/clients is mandatory. This helps the financial and accouning professionals to stay compliant while safeguarding their firm and identifying fradulent activities. An anti-money laundering solution is a great way to curb financial crimes by continously monitoring the risk, family mapping to identify politically exposed people (PEP) among other benefits.

KYC and Digital KYC Solutions

KYC (Know Your Customer) refers to the procedure by which financial institutions confirm the identity of their clients using PoI and PoA documents such as the Voter ID, PAN Card, Aadhaar card, etc. This process helps banks and other organizations assess the risk associated with a particular customer and prevent fraudulent activities. Technological advancements have made digital KYC solutions a more efficient, secure, and cost-effective alternative to traditional KYC processes. Digital KYC solutions leverage artificial intelligence, machine learning, and deep search algorithms to enable instant KYC verification for faster account opening and onboarding.

Educating Customers and Employees

Banks must educate their customers and employees about various types of financial fraud and the best practices to prevent them. Regular training sessions, seminars, and workshops can be organized to raise awareness about cyber threats, phishing attacks, and social engineering tactics. Banks should also encourage customers to report any suspicious activity or communication to the bank immediately.

Implementing Robust Security Measures

Banks should invest in cutting-edge security technologies and adopt multi-layered security measures to protect their networks, systems, and customer data. This includes using strong encryption algorithms, deploying firewalls, implementing intrusion detection and prevention systems, and conducting regular security audits and penetration tests.

Enhancing Regulatory Compliance

Financial institutions must adhere to stringent regulatory and compliance standards to prevent fraud. This includes implementing effective anti-money laundering (AML) and counter-terrorism financing (CTF) measures, maintaining proper records of customer transactions, and reporting suspicious activities to the relevant authorities.

Collaboration and Information Sharing

Banks should collaborate with other financial institutions, government agencies, and law enforcement authorities to share information about emerging fraud trends, threat actors, and best practices to combat financial crimes. This will help the banking sector as a whole to stay ahead of the curve and effectively prevent fraud.

Regulations and Compliances

Several legal provisions and regulatory guidelines have been implemented to prevent and combat financial fraud in the banking sector. Some of these include:

  1. The SARFAESI Act, 2002
  2. The Negotiable Instruments Act, 1881
  3. Banking Regulation Act, 1949
  4. Insolvency and Bankruptcy Code, 2016
  5. Fugitive Economic Offenders Act, 2018

Each bank must also have a Chief Vigilance Officer who investigates and reports fraud cases to the police and the Reserve Bank of India (RBI).

AuthBridge: A Trusted Solution for Combating Financial Fraud

AuthBridge, a leading identity verification and background screening service provider, offers a comprehensive suite of solutions to help banks and financial institutions combat fraud. With its AI-powered Digital KYC and Video KYC solutions, AuthBridge enables organizations to streamline customer verification processes, enhance regulatory compliance, and protect themselves from financial crimes. AuthBridge’s solutions can significantly reduce the risk of fraud, identity theft, and money laundering by harnessing the power of technologies such as Generative artificial intelligence, machine learning, and deep search algorithms.

Conclusion

Financial institutions must continually invest in advanced technologies and adopt best practices to safeguard their operations and customers from financial crimes. Preventing fraud in the banking sector requires a multi-pronged approach, including pan card verification, robust KYC processes, employee and customer education, strong security measures, regulatory compliance, and stakeholder collaboration. Banks can stay ahead of emerging threats by leveraging innovative solutions like AuthBridge’s Digital KYC and Video KYC products and protect their reputation, financial assets, and the economy’s overall growth.

By admin, ago
How Voter ID Verification API Optimizes User Onboarding

How Voter ID Verification API Optimizes User Onboarding

Introduction

The Election Commission of India issues the Indian Voter ID Card (officially known as the Elector’s Photo Identity Card (EPIC)) to adult Indian citizens who have reached the age of 18. The significance of the Voter ID card extends beyond the realm of elections, as it is widely utilised by numerous companies and financial organisations to authenticate their clients’ identities, ages, and addresses. To combat fraudulent activities effectively, many businesses have turned to using a Voter ID Verification API, simplifying onboarding new users. The API leverages the OCR technology to extract information from the voter ID card and use it as proof of Identity and proof of address. The ubiquity of the Voter card as an address proof across the nation makes it an ideal solution to prevent fraud.

 

Voter ID verification through an API offers numerous advantages across different industries and transactions. From opening bank accounts and facilitating loan transactions to enabling gaming activities and onboarding employees of various sectors, such as blue-collar, white-collar, and grey-collar workers, the versatility of voter card verification is invaluable. Additionally, it plays a crucial role in insurance transactions, ensuring the accuracy of user identities and minimising potential risks.

 

Although some users might perceive the identity verification process as time-consuming and bothersome, technological advancements have significantly improved the accessibility and effectiveness of such procedures. By exploring the application of voter ID verification for online service signups and identity confirmation, this blog post aims to highlight the potential of this innovative approach.

 

In the upcoming sections, we will dive deeper into the capabilities of voter card verification APIs, emphasising their role in streamlining user onboarding and enhancing security measures. By leveraging it, businesses can optimise their operations and provide a seamless user experience while mitigating the risks associated with identity fraud.

What is a Voter ID Verification API?

 

A Voter ID Verification API is a fast and efficient way to verify the identity of an individual. The Voter Card API uses the AI-based OCR technology to extract digital information of the individual such as their name, address, date of birth, and father’s name from the voter card. The extracted information is then matched across pre-validated databases or the Election Commission’s database to authenticate the individual’s identity. 

How to Verify Voter Card?

Let us look at the process to verify the Voter ID details using a Voter ID verification API:

 

  • Initiate the request for Voter ID verification
  • Enter the Voter ID number
  • Upload the document (clear photo of the voter ID card)
  • Real-time check across sourced and government databases
  • Voter ID verification complete

Voter ID Verification API Optimizes User Onboarding

Whether it’s social networking platforms, streaming services, or e-commerce sites, these platforms require users to verify their identities to prevent fraud and ensure user security. By incorporating a Voter ID Verification API into the signup process, businesses can optimise user onboarding in several ways.

  1. Streamlined User Experience:
    1. Voter ID verification simplifies the identification process for users during online service signups.
    2. Users can quickly and easily verify their identity by providing their voter ID details, eliminating the need for cumbersome manual processes.
    3. This streamlined user experience improves conversion rates, as users can seamlessly complete the onboarding process without unnecessary delays or complexities.
  2.  Compliance with KYC Regulations:
    1. Know Your Customer (KYC) verification is a crucial regulatory requirement for many industries.
    2. Integrating a Voter ID Verification API ensures compliance with KYC regulations by validating the user’s identity and addressing the need for robust verification measures.
    3. By leveraging the API, businesses can enhance their risk management strategies and establish a stronger foundation of trust and authenticity.
  3. Enhanced Security and Fraud Prevention:
  1. Voter ID verification is a robust security measure, reducing the risks associated with fraudulent activities and identity theft.
  2. By validating the user’s identity through their voter ID, businesses can ensure that only genuine individuals gain access to their services.
  3. This helps in safeguarding user data and sensitive information, fostering a secure environment for both the business and its users.

 

Final Word 

In today’s digital landscape, Voter ID API Verification is indispensable. This robust tool streamlines the user onboarding process, validating identities swiftly and efficiently. Providing real-time access to relevant databases, it automates voter card verification, minimising human errors and maximising accuracy. It fortifies trust and security by confirming Voter ID authenticity, effectively mitigating fraudulent activities. The Voter ID API Verification, therefore, stands as a beacon for organisations, aligning with regulatory requirements, enhancing user experience, and bolstering their reputation. In essence, its significance for businesses in need of efficient, reliable, and rigorous identity verification is inarguable and paramount.

 

Check out how you can onboard individuals, vendors and third parties faster with AuthBridge’s Voter ID Verification API.

By admin, ago
How to Choose Best Background Verification Vendor

Understanding the What and How of Background Verification APIs

Introduction

In the competitive landscape of modern business, organizations must make swift and informed decisions when hiring new employees. Background checks ensure the organization’s and its workforce’s safety and integrity. Integrating a background verification API is an innovative approach that can help streamline pre-employment screening. This in-depth guide will provide you with everything you need to know about integrating a powerful Background Check API, enabling a seamless and efficient screening experience for your organization.

Understanding Background Check API

A Background Check API is a web-based service that enables organizations to automate and streamline their pre-employment screening process by directly integrating background check functionality into their systems. This API allows organizations to request and receive background check reports, track the status of these checks, and manage results, all within their existing software applications or platforms.

Why Integrate Background Check API

Integrating a Background Check API can bring numerous benefits to your organization, such as:

  1. Efficiency: Automate the background check process and reduce manual work, leading to faster turnaround times.
  2. Accuracy: Minimize the risk of errors by centralizing the data collection and verification process.
  3. Customization: Tailor the background check process to your organization’s specific requirements and industry standards.
  4. Scalability: Easily expand your background screening process as your organization grows without any additional overhead.

Selecting the Right Background Check API Provider

Choosing the right API provider is crucial to ensure the success of your integration. Here are some significant factors to keep in mind when selecting a Background Check API provider:

  1. Reputation: Look for a provider with a reliable track record and positive customer reviews.
  2. Compliance: Ensure the provider follows industry regulations and maintains the necessary certifications.
  3. Data Security: Verify that the provider adheres to strict data security measures and data protection protocols.
  4. Customer Support: Choose a provider with responsive and knowledgeable support to address your concerns and queries.

 

Key Features to Look for in a Background Check API

An efficient Background Check API should offer the following key features:

  1. Comprehensive Reports: Access to a wide range of background check services, including identity verification, criminal history, employment history, and educational background.
  2. Real-time Status Updates: Receive updates on the progress of background checks, enabling you to make well-informed decisions.
  3. Flexible Integration: The capability of integrating the API unobtrusively into your existing systems, irrespective of the platform or programming language used.
  4. Data Privacy: Strict adherence to data privacy regulations ensures the security and confidentiality of sensitive information.

Steps to Integrate a Background Check API

Here’s a step-by-step guide on integrating a Background Check

API into your system:

  1. Define Your Requirements: Clearly outline the types of background checks you need and the specific data points required for your organization.
  2. Select the API Provider: Choose a reputable Background Check API provider that meets your organization’s compliance, data security, and customer support requirements.
  3. Obtain API Credentials: Register for an API key or token with the chosen provider. This unique identifier enables secure access to the API and allows you to make requests.
  4. Review API Documentation: Thoroughly study the provider’s API documentation to understand the available endpoints, request parameters, and response formats. Familiarize yourself with the best practices for using the API.
  5. Develop and Test: Start the development process by implementing your system’s API calls and endpoints. Test each call to ensure it functions as expected and delivers the required data.
  6. Monitor and Optimize: Regularly monitor the performance of your integration and make any required adjustments and optimizations to enhance its effectiveness.
  7. Ensure Compliance: Regularly review your background check process to ensure ongoing adherence to legal requirements and industry regulations.

Exploring Various Background Check Verification APIs

This section will discuss different background check verification APIs, starting with the PAN card verification API.

PAN Card Verification API

A PAN (Permanent Account Number) card represents a unique identification number assigned to Indian taxpayers. The PAN card verification API enables organizations to verify an individual’s PAN card details, such as their name, PAN number, and date of birth, by connecting to the government’s database. This verification API ensures that the provided PAN information is genuine, up-to-date, and belongs to the respective individual. It is crucial in mitigating financial fraud and assisting with the Know Your Customer (KYC) process.

Aadhaar Authentication API

Aadhaar Authentication API is a secure and reliable service that allows organizations to authenticate an individual’s identity using their Aadhaar number. This API facilitates biometric (fingerprint or iris) or demographic (name, date of birth, or address) authentication, providing an additional layer of verification to ensure the individual’s identity.

Driver’s License Verification API

The Driver’s License Verification API is a specialized service that allows organizations to verify an individual’s driving license details by connecting to the government database. This API enables the validation of critical information, such as the driver’s name, date of birth, license number, and license validity. It plays an essential role in industries where an individual’s driving credentials are crucial, such as transportation, logistics, and on-demand services.

Background Check API Integration

Background Check API Integration refers to incorporating a powerful Background Check API into an organization’s existing system or software. This API allows businesses to request and receive comprehensive background check reports, monitor the status of checks, and manage results within their platforms. The integration enables organizations to automate and streamline their pre-employment screening process, enhancing efficiency, accuracy, and compliance.

Ensuring Compliance and Security

Implementing a Background Check API requires strict adherence to compliance and security protocols. Here are some essential steps to follow:

  1. Comply with Legal Regulations: Be aware of the local, national, and international regulations that govern background checks. Ensure your background check process fully complies with relevant laws.
  2. Maintain Data Security: Implement robust security measures to safeguard sensitive personal data, including encryption, secure access controls, and regular vulnerability assessments.
  3. Obtain Consent: As law mandates, obtain written consent from job candidates before initiating a background check.
  4. Stay Updated: Stay informed about changes in legal regulations and industry best practices to ensure ongoing compliance and protect sensitive information.

Conclusion

Embrace the power of technology to make informed hiring decisions and secure your organization’s future. Integrating a Background Check API into your system can significantly enhance your pre-employment screening process’s efficiency, accuracy, and scalability. Your organization can benefit from a seamless and streamlined background check process by selecting the right API provider, implementing key features, and adhering to compliance and security best practices.

By admin, ago
process-for-verification

What is the process for BGV (Background Verification)?

BGV or Background verification is synonymously used for candidate and employee verification. It is one of the top priorities for companies when hiring employees to stay ahead of business and operations risks. Background verification was essentially introduced to meet business, compliance, and data security regulations for a company that is hiring new employees or screening their existing employees.

Nowadays, employee background verification is a non-negotiable part of hiring. It appears that gradually background checks are becoming more robust. Employers are checking employees rigorously and including different elements to employee verification with the power of technology. Background screening companies like AuthBridge are offering industry-specific solutions for employee screening by deploying power-packed technologies like AI/ML, proprietary databases, etc.

What is the process for BGV and how is it done?

The background verification process encompasses checking the credibility of the candidate’s past employment details, their educational qualifications, if there are any ongoing or past court cases against the candidate – with the idea of hiring the right candidate for the job.

With the changing work environment and new data protection laws, companies cannot afford even a minor glitch in the resume. One wrong candidate is hired, and your market reputation earned over the years goes for a toss. A few easy steps of background verification can bring about a profitable change in your company.

At AuthBridge, we power your background screening process with real-time verification capabilities. Our combination of digital, database, and human-assisted checks yields accurate screening results 10X faster and you can easily upscale and downscale your employee verifications. So now several real-time solutions are available across remote employee onboarding journeys.

 

What is BGV in remote working? How has technology changed the BGV space?

With traditional verification processes proving inadequate and out-of-date, 32% of companies leverage technology tools as an alternative mode of verification [Source: EY] These findings reconfirm the fact that digital transformation is driving employee background checks in the new normal space of work.

The latest technological advancements powered by AI/ML have enabled background verification companies to optimize the BGV process while complying with data protection regulations.

 

Use of technology and how it automates employee verification?

In times driven by the dynamism and volatility of good talent, technology-led solutions focused on Employment, Education, Address, Criminal and identity checks have been designed to verify and onboard employees instantly. This has substantially helped HR-specific risk mitigation and faster business decision-making.

Our centralized onboarding documentation tool makes it possible to upload all documents and information in a single shot, which can be cross-referenced at any time for multiple purposes by various stakeholders. Organizations are even open to accepting digitally signed documents. Most of the manual paperwork involved in employee verification has gone 100% online. 

 

What are the USPs of BGV offered by AuthBridge?

  1. 1 Billion+ Proprietary database
  2. Deep Background Screening domain expertise with 100+Background Screening Checks
  3. Customizable and integrated solutions
  4. Fast and secure
  5. Industry-specific

The typical process flow for background verification journeys covers several employee touchpoints. From the candidate sharing their personal/professional details with HR which are fed over our digital platform namely iBRIDGE, to receiving fast, accurate, and customized employee verification reports.  Here, technology and automation through a platform like iBRIDGE help the whole process.

 

What are the easy steps of BGV via iBRIDGE?

Step 1: Log in to the portal to initiate any case and submit a BGV form

Step 2: Update all the details and documents starting with the authorization tab and followed by checks you choose like NID, education, employment verification, etc.

Step 3: In the HR dashboard, you can track and monitor the cases initiated with AuthBridge on a real-time basis.

iBRIDGE being the next-gen background verification platform integrates with leading HRMS such as Taleo, Darwinbox, Success Factors, etc. to fetch candidate details directly to our portal via robust APIs and process further for verification. 

How can BGV processes be automated using iBRIDGE?

With the help of iBRIDGE- our one-stop web platform, the entire hiring ecosystem can be automated (employee BGV, document collection, digital document signing & seamless onboarding). Let’s get a sneak peek into iBRIDGE – our employee screening and onboarding platform in an easy-to-consume manner.

  • Tailor-made client-end processes to suit specific needs with a quick turnaround time for fast decisions
  • Minimal inputs to create a target profile along with comprehensive, customizable & robust reporting
  • Access to the largest corporate, legal, financial, negative public, and proprietary databases
  • One-click initiation of a new request / new candidate
  • Real-time visibility of the document/data collection process
  • Intuitive application with relevant document collection
  • Has AuthBridge’s proprietary databases and APIs pre-integrated to ensure the industry’s fastest turnaround times
  • Real-time visibility of progress on every case/check
  • Alerts & notifications can be customized as per client’s request
  • Can be used as a future reference repository of employee information
  • Can be integrated with any HRMS/ATS via APIs

Dashboard

AuthBridge is India’s leading Background Verification (BGV) Company. Write to us at sales@authbridge.com for more information.

By admin, ago
Client Onboarding Process to ensure due diligence of clients

Client Onboarding: Process to ensure due diligence of clients

What is client onboarding and due diligence?

Client onboarding is the process of onboarding new clients into your business while ensuring due diligence. A seamless client onboarding process enables businesses to build initial rapport with prospective clients, prevent impediments, and deliver an outstanding experience. Needless to say, a great client experience is directly proportional to business growth and profits.

A complex onboarding process can open opportunities for your competitors to pounce on your clients and make you lose out on profitable associations. Losing clients due to the cumbersome process is heartbreaking as all the time and effort spent on marketing, building relationships, collaborations, etc. go in vain. By leveraging the right authentication and onboarding technology, businesses must create hassle-free journeys, reduce overhead costs, and identify potential risks right at the initial stages.

 

AuthBridge’s digital client onboarding platform – OnboardX

One of the biggest benefits of seamless client onboarding is continued service from the client. According to Bain and Co., a 5% increase in customer retention rate can shoot up a company’s profitability by 75%. According to Gartner Group, 80% of your organization’s future revenue will come from 20% of its current customers. Considering all these factors, it’s easy to conclude that businesses must leave a good impression right at the initial stages of onboarding new clients and secure future revenue with repeat clients.

A seamless onboarding experience not only translates into a great client experience but opens the door for prospects to accelerate business growth. AuthBridge’s AI-driven onboarding technology and dedicated platform for third parties including clients, suppliers and vendor onboarding – OnboardX helps businesses to start on the right foot and streamline ‘end-to-end onboarding journeys’ covering post-onboarding risk watch and screening. 

Another key advantage is that you can validate your clients’ identity, spot discrepancies right before the onboarding, and protect your business and existing clients.

 

Step-by-step process checklist for Client Onboarding and Due Diligence

Know your clients: Every client has a different set of expectations and requirements. Whenever onboarding a new client, it’s important to ensure that the onboarding is seamless and hassle-free for them to avoid funnel dropouts and client dissatisfaction. So start with learning about your client’s needs and initiate the right approach to working with them.

Make onboarding and KYC seamless with technology: Many businesses do not understand client onboarding technology and how it can eliminate lengthy and tedious paperwork for their clients. In this competitive landscape, where everybody wants digital, time-savvy, and customized experiences, manual processes can lead to client dissatisfaction and put a halt to critical business operations. 

It is essential to digitize the KYC and onboarding process with cutting-edge technologies to reduce attrition rate, facilitate 10x faster service activation, and contribute to overall operational efficiency. It will enable businesses to onboard clients at scale, eliminate delays due to manual intervention, and reduce turnaround times by up to 70%.

Identity thefts and risks assessment: Businesses must never overlook the red flags when onboarding a new client. Performing robust client due diligence is crucial to prevent different types of risks associated with operational, financial, reputational, and regulatory. The post-pandemic world needs a robust process not only for genuine business collaborations but also to keep third-party risks at bay. 

AuthBridge’s onboarding technology for suppliers, vendors, clients and other third parties helps businesses to verify and onboard clients and partners in real-time, customize process workflows and facilitate background checks in bulk or individually. Our AI-driven authentication technology, alternate data, and deep search algorithms enable instant KYC for faster account opening and onboarding. The products built on OCR, image, and liveness detection technologies help identify identity thefts, any discrepancies, and frauds. This means you will only onboard those with a clear background check.

Managing and storing documents/records: Managing documents manually doesn’t give you complete control and transparency – especially when done at scale. During the new client onboarding process, reduce this stress by digitizing paperwork with an e-signing solution. SignDrive is our automated, cloud-based digital signing product that lets you upload, sign, submit and manage documents digitally. 

Automating documentation and workflow management can give complete control and transparency of the process. It will help you create legally enforceable electronic and digital signatures, ensuring all legal formalities are completed in a paperless and contactless way.

Post-Onboarding Communication: After successfully onboarding new clients, businesses can plan a post-onboarding kickoff call to reinforce that they did the right thing by making them feel valued. Find out what your onboarding process looks like, your clients’ present preferences, and future expectations. It will help you build and strengthen relationships- giving your clients a sense that they are with the right business.

To ensure successful client onboarding, make sure you hit all these points in your process from now onwards. Leverage cutting-edge solutions to automate and future-proof your client onboarding. Move away from a manual process to a 100% digital one that is paperless and contactless.

To know more about onboarding and verification solutions at AuthBridge – India’s largest authentication and background verification company, do share your details on our contact page.

By admin, ago
What does BGV (Background Verification) mean and why is it required

What does BGV mean and why is it required?

The process of Background Verification (BGV) has to be seen in the context of a technology-driven hiring space which is still evolving. The job market competition has never been this cut-throat, in the middle of a talent war. Candidates are going way beyond their potential to get a rewarding job and exceed employer expectations. Even the employers are making drastic moves to attract and retain top-notch talent. With the ever-widening talent demand-supply gaps, your approach to hiring can go all wrong. It’s a do-or-die situation for HR teams. 

There’s no mistake as costly as employing a wrong hire into your company. Nearly three of four employers report that they’ve hired the wrong person for a critical position. [Source: Career Builder]. The best one can do here is to reduce future risks by checking the candidate’s past records and staying alert through and through.

What is the full form & meaning of BGV?

The full form of BGV is Background Verification which refers to verification of potential employees by companies. It is a process of collecting and verifying information about an individual’s background, past history, qualifications, and education for the purpose of protecting an organization or business from potential risks.

It is done to ensure that your employees are who they say they are and that they have not been involved in any anti-law, fraudulent activities in the past.

 

What all is checked in BGV?

There are several checks that can be used for BGV, including educational verification, employment verification, criminal record checks, credit checks, validating references, address verification, testing for drugs, and social media checks.

Below are some of the aspects which are verified and confirmed by way of BGV:

  1. Employment claims
  2. Mismatches in education records
  3. Discrepancies in the last salary received 
  4. Work experience in unrelated fields 
  5. Fake degrees from unrecognized colleges
  6. Stolen, fake identity proofs 
  7. Past criminal history
  8. Poor market reputation
  9. Forged address

What are the Documents Required for BGV (Background Verification)?

  1. Identity Proof:

    • Purpose: To confirm that you are who you claim to be.
    • Common Documents: Passport, National Identity Card, Driver’s License, Social Security Card.
    • Details: Must be government-issued, contain a photograph, name, date of birth, and an ID number.

  2. Address Proof:

    • Purpose: To verify your current and previous residences.
    • Common Documents: Utility bills (electricity, water, gas), Bank statements, Lease or rental agreements, Voter ID (if it includes address).
    • Details: Should have your name and address clearly listed, and be recent (usually within 3-6 months).

  3. Employment History:

    • Purpose: To verify positions held, duration of employment, and job responsibilities.
    • Common Documents: Offer letters, Relieving letters, Pay slips, Reference letters.
    • Details: Should include employment dates, titles, and contact information of supervisors or HR departments.

  4. Education Verification:

    • Purpose: To confirm academic credentials and qualifications.
    • Common Documents: Diplomas, Degrees, Certificates, Mark sheets, Transcripts.
    • Details: Need to show the full name of the institution, course of study, and date of graduation. Sometimes, verification codes or seals are also necessary.

  5. Criminal Background:

    • Purpose: To check for any criminal history that might be relevant to the job.
    • Common Documents: Police clearance certificates, Criminal background checks from an authorized body.
    • Details: May vary greatly by country; some places have an online verification system, while others require a visit to a police station.

  6. Credit History:

    • Purpose: To assess financial responsibility, particularly for roles that handle finances.
    • Common Documents: Credit report, Bankruptcy discharge documents.
    • Details: Credit reports typically summarize credit activity and current credit situation including loan paying history and the status of credit accounts.

  7. Professional Licenses:

    • Purpose: To confirm the validity and status of any professional licensure claimed.
    • Common Documents: License certificates, Verification letters from the licensing body.
    • Details: Should include the license number, date of issue, expiration date, and status (active, expired, suspended).

  8. Reference Checks:

    • Purpose: To gather insights into your work ethic, character, and professional experience.
    • Common Documents: List of references with contact information.
    • Details: Typically includes names, job titles, organizations, phone numbers, and email addresses of former supervisors or colleagues.

  9. Drug Screening:

    • Purpose: To ensure compliance with company policies regarding drug use.
    • Common Documents: Drug test report from an authorized medical facility.
    • Details: A negative result is usually required; some companies may perform their own testing after the initial employment offer.

  10. Immigration Documents:

    • Purpose: To establish eligibility to work in the country for non-citizens.
    • Common Documents: Work permits, Visas, Green cards, Employment Authorization Document (EAD).
    • Details: Must be current and allow for the specific type of employment.

Why is BGV done by employers?

Many candidates think that a background verification checker will not dive deep into the information stated on the resume and resort to exaggeration to add a little punch there. So, in such a situation conducting BGV becomes important.

Some of the top reasons stated by employers for BGV are:

  • To prevent fraudulent activities within the company/organization
  • To prevent identity theft
  • To maintain compliance with government regulations

The BGV checks also play a pivotal role in uncovering the following aspects:

Reveals criminal past: Imagine how it would be to hire a criminal! Of course, hiring a candidate with a criminal record poses a serious threat to your organization’s future. One of the main reasons why criminal record check is the key while screening new employees. Using proprietary databases powered by AuthBridge, it is possible to run criminal record checks nationwide, across state, city, county, etc to find out if, when, and where a crime has been committed. This enables you as an HR to make a sound and informed hiring decision.

Ensures a safe workplace: For every employer, creating a safe working environment is on high priority. If not taken care of, as custodians of the company, you are to be held accountable.

Without a background check, chances are that you’ll take interviews of candidates who have a dark history behind them. From hiring sex offenders to violent criminals, you just cannot risk your employees and workplace for it. But what happens if you skip background verification and end up hiring these kinds of unwanted social elements? It will only compromise your workplace safety and brand equity. So, by now you understand the importance of BGV in today’s hiring scenario.

Protect against reputational risks: What do you want to achieve the most as an HR? Do you want to protect your company’s reputation? Then start moving in tandem with the changing times now. It’s the value addition of your actions and how swiftly BGV can be adopted as the first onboarding step.  After all, it’s all about attaining peace within the mind! It is obvious that you want to do everything in the direction of building a successful organization. And this can only be turned true when the best talent is hired to run crucial businesses and processes. We understand that lengthy and cumbersome verification processes can create bottlenecks, but worry no more. With AuthBridge’s AI-powered Employee Background Screening, you can ensure building an authentic, power-packed team. Don’t think, just act to include background checks in your HR agenda right away!  Nowadays, Technology is the catalyst for employee onboarding & background verification.

All things apart, there’s no room for a mistake that can easily be covered through the process of BGV. So, unless you want your company’s safety to get compromised, it is best to run background checks to make smarter hiring decisions, easy. It is the one and only way to spin the wheel of fortune in the direction of powerful teams and business growth.

AuthBridge is India’s largest background verification company. If this interests you, write back to us at sales@authbridge.com or share your details with us on our contact us page for more information.

By admin, ago
How online criminal record checks are done in India

How online criminal record checks are done in India

Did you know that approximately 78% job applicants lie during the recruitment process? It is not an exaggeration but a fact, as per a CNBC article. That’s why, it is always important to make sure that your candidates are a fit (not just for the job role!) for your company’s brand ethics, values, culture, and morals. As an HR professional, it should be one of your top priorities to conduct a thorough background verification and screening on the candidate’s past. Here, criminal record checks can be imperative to spot potentially risky hires and safeguard a company’s reputation against any damages or setbacks.

 

What is criminal background verification?

Criminal verification is the process of checking an individual’s criminal records or verifying the criminal history of a job applicant as per government databases.

The purpose of a criminal record check is to determine whether an applicant has been convicted of any crimes, and if so, what type of offences they have committed and the length of time they have been convicted for.

Also Read: Questions related to criminal record checks

Criminal background checks are important in the hiring process because they help employers to make:

  1. Informed hiring decisions
  2. Avoid legal liabilities and discrimination
  3. Protect data and sensitive information
  4. Create healthy work environment
  5. Determine whether an applicant’s past will affect their ability to do the job

 

How digital adoption has enabled faster criminal record checks

The Digital India initiative has led to quick emergence of tech-enabled platforms across industries, specially in the HR world of work.

Earlier, criminal record check used to be a costly, tedious, and time-consuming affair. But, with innovative, AI-backed technology, conducting criminal record checks online have revolutionised the whole recruiting scenario. Companies are now turning to automated checks for enhanced efficacy and quicker verification results. As enhanced tools for background verification of new hires centralised criminal record repositories have been built with advanced search.

 

Where to find court records online in India?

Nowadays, we often stumble upon news articles which talk about different state initiatives to build a centralised repository of criminal records. In 2020, the Haryana Police launched a software to digitise criminal records of 6.5 lakh people. Now, Maharashtra will soon be launching their first biometric crime database, as per a TOI article. Different technologies like digital fingerprints, iris scanning systems are being used to further substantiate databases.

In India, criminal record databases are maintained by public courts (district, state, and supreme court), tribunals, National Crime Research Bureau, CBI, SEBI, RBI, Police Research and development, and company registrars. But accessing these criminal records and litigation databases to verify individual employee criminal backgrounds can be extremely overwhelming and equally confusing.

That’s where reliable, technology backed background verification companies like AuthBridge, have become an absolute necessity in 2022.

Challenges faced by HR teams while conducting criminal verification online:

  1. Higher costs
  2. Time-consuming process resulting in delayed hiring
  3. No direct link or central website to access criminal databases

 

AuthBridge’s technology is revolutionising the criminal record check online in India

We are way past the time of relying only on Police Record Verifications. A mix of court record checks and police verification has become a vital step in the modern hiring process to mitigate potential risks where police verification and criminal record join hands to provide complete vigilance.

Technology advancements like Artificial Intelligence (AI) and various tech-driven APIs have changed the way criminal checks were earlier conducted. With such digitalisation in place, it is much easier to verify your candidates in near real-time. It’s a better way to carry out comprehensive court records check – without any hassle of paperwork at all. Today, contrary to how cumbersome criminal court records check was earlier perceived.

Here at AuthBridge, we have collected and organised millions of litigation records in India so that they can be instantly searched in an efficient manner. As icing on the cake, our panel of subject experts assess each result so that a final report, which is error-free and in a consumable format for our clients.

  1. Artificial Intelligence-driven platforms like APIs
  2. PAN India court records verification
  3. Comprehensive and detailed combined police verification and court records check – No hassle of paperwork
  4. Automated screening with the help of negative databases
  5. Time-efficient solutions due to the availability of real-time reports
  6. Cost-effective
  7. Reliable information
  8. Privacy
  9. No room for manual errors
  10. Increased efficiency and accuracy
  11. Comprehensive databases of criminal and negative record checks
  12. Access to extensive litigation records
  13. Deep search against 200+ million records from state police FIRs, tribunals, and records from 3500+ courts across India; by leveraging AI-backed algorithms, and data mining technology

To know more, schedule an appointment with one of our experts today, write to us at communication@authbridge.com.

By admin, ago
Worker Verification The Ideal Solution to Prevent Blue-Collar Crimes

Worker Verification: The Ideal Solution to Prevent Blue-Collar Crimes

Nearly 500 million workers are a part of the blue-collar segment in India. Generally, industries hire them in bulk on either contractual or permanent basis. Even with the rapidly emerging technologies, companies are still hiring blue-collar workers. Wonder, why? Because the overall blue-collar ecosystem will stand tall in a massive economy like ours and never go obsolete. Only the skill sets will change to suit requirements of running digital processes.

 

Blue collar workers refer to people who mostly perform manual labour. In industries such as construction, manufacturing, oil and gas, agriculture, transportation and warehousing, the blue collar segment is the key driving force of future growth. Unfortunately, bulk hiring is responsible for ignorance towards authentic background verification of these workers. Consequently, the chances of blue-collar crime i.e., theft, molestation, fraudulent activities, lynching, killings etc. exponentially increase. Thus, companies need to have a comprehensive view of their blue-collar workers using robust, 360-degree background checks. This will help fight against shocking cases making sensational news headlines like the ones mentioned.

  • A factory worker got arrested by Delhi Police for stalking, sending obscene videos to 200 women. [Source: India Today]
  • Another case of a factory worker getting arrested for stealing from the workplace. He was a drug addict, and committed a crime to obtain money for drugs. [Source: The India Express]

 

So how do you then ensure peace of mind? Our blue-collar worker verification is the ultimate answer to that.

Also Read: Use of Technology in Blue-Collar Screening

Our technology driven, qualitative background screening solution for your blue-collar factory workers can mitigate your business risks and protect your reputation. We follow a specific, consultative approach to understand your existing verification processes and suggest the best suited approach to worker verification to protect your market reputation. Checks like instant ID verification, digital address verification, court record checks, etc. are a part of our powerful, end-to-end blue collar background screening solution. This may not currently be a part of your hiring processes but once included can guard against all your blue-collar hiring risks.

 

Benefits and Impact of Our 360 Degree Worker Verification

  • AuthBridge powered worker verification solution uses powerful, tech platforms that onboards your factory workers quickly. This enables verification and onboarding of workers at ease and scale. Faster processes help the HR staff skew their strategic potential towards important tasks. 
  • Built on ML and AI capabilities, our blue-collar verification for workers simplifies employee onboarding journeys. It automates steps to upload candidate documents, interact with the concerned HR SPOC and digitally sign all BGV forms.
  • Backed by AuthBridge’s cutting-edge technology, its qualitative approach helps in collecting and analyzing data to provide reliable screening results and build your trust.
  • Our multilingual dashboards respond swiftly to your case initiation and review requests. National identities are checked in real-time with the help of technologies like OCR, anti-spoof image recognition and face match to filter our impersonators.
  • The technology used for worker verification enables your future readiness by bringing speed, efficiency, and safety to your employee onboarding processes. We always bring the best of technologies to offer quality verification solutions.
  • Our blue-collar verification solutions including worker screening are available, at PAN India for all your hiring needs. 
  • For most companies, compliance, and security of verification platforms is of serious concern. AuthBridge’s Blue-collar screening keeps all regulatory and compliance requirements under check and verifies worker credentials against public databases.

 

If this interests you, let us connect!

You can write to us at communication@authbridge.in and we can book a quick demo to help you understand how our blue-collar screening solution works to prevent blue-collar crimes.

By admin, ago
Top Background Verification (BGV) Company in Delhi NCR, Noida & Gurgaon

Top Background Verification Company in Delhi NCR, Noida & Gurgaon

There is no dearth of background verification companies in India. However, not all have the manpower and technology to ensure high verification accuracy at industry leading turnaround time (TAT). Delhi NCR being the hub of many multinational companies along with government institutes sees a high volume of verification check requirements.

AuthBridge based in Gurgaon is one of the largest identity and background verification companies in Delhi NCR. As a technology-driven background verification company, we enable simple and quick solutions for companies from Delhi NCR, Gurgaon, Noida & and across India to obtain a BGV report. A robust background check mitigates risk, protects the company’s reputation, and thus adds to future revenues.

 

Why choose AuthBridge for background screening in Delhi NCR, Gurgaon & Noida?

AuthBridge provides trusted, 360-degree background check services for a large spectrum of clients. The risk of hiring candidates with a negative record is very likely the hurt your organization. The probability of losing brand equity is relatively as high with unverified hires. A business that doesn’t implement proper background checks ends up with a serious long-term impact on its business. With exhaustive background checks from AuthBridge, companies in Delhi NCR can provide a safe working environment as fraudsters can easily be identified. Background checks play a crucial role in different ways for any business such as acquisition, hiring talent, litigation, signing a contract, etc. Our data-driven technology helps our clients to check identity, education, employment, references, and criminal records.

employee onboarding solutions

For e.g., a case of forgery, impersonation, and identity fraud of an office bearer at the Prime Minister’s Office has been registered with Delhi Police or how a man uses an impersonator to qualify Delhi Subordinate Services exam using dubious means.  These are only a few of those countless cases where candidates have faked their resumes to attract lucrative jobs.

Partner with AuthBridge, one of the leading employee background verification companies in Delhi NCR, which offers AI-powered authentication solutions around interviewing, identifying, and selecting a suitable employee in lieu of time-consuming and expensive processes. However, our cutting-edge authentication products and alternate data analysis for your businesses help you make informed hiring decisions for your company. According to a study, 40% of resumes submitted by job applicants contain incorrect/falsified information. Therefore, many companies in Delhi/NCR have started taking background checks seriously for potential candidates.

 

Why background checks are a must for any company

a. Background checks successfully exposes dishonest applicants

b. Background checks help enhance hiring quality.

c. Background checks help companies to check the financial, employment, and criminal details of their employees.

d. Background screening ensures that the information shared by candidates is 100% accurate. In addition, background screening safeguards your business interests from any unlawful aspects such as fraudulent transfers, loss of income, and reputational damage.

 

Benefits of Conducting Background Verification for Companies in Delhi NCR

As one of the credible and leading background verification companies in Delhi NCR, AuthBridge offers powerful and compliant background screening. We take immense pride in leveraging technology to offer the fastest, and most detailed reports. A few Fortune 500 companies around Delhi/NCR often hire AuthBridge with the goal of conducting pre-and post-employment background checks for continuous surveillance of employees.

i) Background checks are critical to keeping track of employees before and after employment.

ii) Employees with a history of substance abuse can be taken out immediately with the help of quick background verification.

iii) The criminal record of the potential candidates can be checked well in time with background checks.

iV) Background checks offer a safe and inclusive work environment for the employees hired.

V) Background checks result in quality hires, resulting in a lesser turnover in the companies

 

We also provide employee screening solutions for corporate giants. We have a faster turnaround time and deliver at competitive pricing. The identity and address verification services offered by AuthBridge verify the correctness, existence, and authenticity of addresses as well as important identity documents. As one of the top background verification companies in Delhi, AuthBridge offers you quality verification services with accurate analysis that is very simple yet effective. By availing of background verification services from AuthBridge, you will get first-hand information that is accurate, quick, and timely for wise decision-making and can help you complete the background check efficiently as well. We do not want to shy away from sharing that AuthBridge ranks first among the best background verification companies in Delhi. Know more about our background verification services in PAN India and globally.

 

Importance of Background Checks in Delhi/NCR

Today, most companies in Delhi/NCR tie up with hire background verification companies to supplement their employee hiring processes. Employee background verification is inevitable in Delhi/NCR, which is one of the corporate hubs. Background verification ensures that a fair and safe working environment can be provided to past and present employees. Besides risk mitigation, it prevents fraud, protects brand value, builds trust, and promotes future growth. Background checks can be applied to all candidates like full-time, contractual, freelancers, etc. Background checks are crucial because the employees you hire have full access to office space, assets, and sensitive data after being hired.
     

If you are looking for background verification in Delhi/NCR and want to avail the services of a reputed, trustworthy, and technology-driven background verification company, book a demo with us at: sales@authbridge.com or talk to our experts.

In Delhi/NCR we have our presence across locations including New Delhi, Noida, Gurgaon, Greater Noida, Faridabad, and Ghaziabad.

By admin, ago
Background Verification (BGV) Company in Mumbai for Employee screening

Background Verification in Mumbai for the Right Hiring Decisions

Bombay, now known as Mumbai, formerly Bom Baim in Indo-Portuguese creole, is one of the most populous cities. Due to its central location, it is the financial and commercial hub of India. Mumbai is among the most flourishing, cosmopolitan, and economically prosperous cities with a GDP contribution of ₹26.61 trillion (US$350 billion) in the FY 2020–21. Due to its economic, commercial and employment opportunities, it attracts a heavy influx of migrants and consequently a very rapid population growth. Being the nerve centre, it is always booming. A growing population naturally increases its risk exposure and fraud vulnerabilities. That’s why companies based in Mumbai widely adopt employee background verification as a risk management tool. And several background verification companies in Mumbai are getting a thumbs up for greater presence.

 

Key Hindrances in Background Verification Companies in Mumbai

It’s often witnessed that due to delayed check results and unorganised services, companies tend to forgo employee background verification processes. This leads to inefficient hiring and discrepancies in employee credentials during verification. In 2019, 211 schools were enlisted as fraudulent educational institutions, dealing with counterfeit certificates. It’s about time to take on background verification more seriously.

 

Importance of Background Verification Companies in Mumbai

Performance, productivity, and reputation of a company require the employees to be at their best behaviour and abide by ethical and behavioural standards as laid down. Growing organisations do understand the value of well-informed hiring decisions. However, a long-drawn verification can hinder internal processes and productivity. At AuthBridge, we address this with fast, AI-powered technology as a pioneer of employee background verification companies in Mumbai. Our background verification services can help your company scale with candidate-first, digital solutions fit for hybrid and remote workplaces. These solutions are customised to validate any employee credibility issues, within faster turnaround times, based on facts. We are out of the leading background verification companies in Navi Mumbai.

Our technologies like optical character recognition (OCR), document classification, image recognition, face match, geo-tagging, and digital signatures help in saving time, effort and money for your HR function. This will make your background screening process seamless, scalable, and secure, adding nimbleness to your employee background verification process.

 

Benefits and Impact of Background Verification in Mumbai by AuthBridge

  1. Scale up faster with automated background checks
  2. Increase productivity and build a better candidate experience
  3. Get real-time visibility on the progress of checks
  4. Get customisable workflows, integrable with any HRMS tool
  5. Built-in regulatory compliance and data privacy safeguards

Our web-based platform provides end-to-end candidate experience and ensures employers can monitor, view and archive verification progress, anytime, anywhere. Our technology suite of background screening services enhances your verification process in a cost-effective way.

 

Salient Features of Our Employee Background Verification Offerings in Mumbai

  1. Easy-to-Use
  2. Competitive Pricing
  3. Faster Turnaround Time
  4. Online and Automated Data Management
  5. Intuitive Dashboards

Whether it’s instant ID verification, education checks, reference checks or digital address verification for employees, customers, partners, or vendors—automation, easy integration and data security will power your HR verification and onboarding process at every step of the way.

 

Our Range of Employee Screening Services in Mumbai include:

The metropolitan city of Mumbai is the base for several IT firms and MNC giants. We also provide AI-powered vendor due-diligence services for large organizations outsourcing their requirements to external vendors.

Mumbai has always been the city of dreams for culturally diverse people. Keeping the same in mind, we also offer:

  • Drug/Substance Abuse Check

Predominantly, good hiring decisions affect your company’s bottom line the most. So, create 10X faster verification and onboarding journeys for people who will contribute with end-to-end background checks that come with real-time dashboards and actionable insights. Our background checks ensure the quickest outcomes so you can scale up at speed and save onboarding time by up to 90% and operational costs by up to 70%. Using an advanced AI-driven and compliant platform, AuthBridge makes your business scalable and growth-oriented by addressing unique business needs. 

If you’re based out of Mumbai and our employee screening services interest you, book a demo with us. We are India’s largest authentication and background verification company, specializing in all-inclusive background check services.

By admin, ago
AuthBridge-footer-logo2

Stay Informed

Keep yourself updated with the latest innovations in BGV & Authentication Technology from India’s leading Background Verification Company

Solutions

White-collar Verification
Blue-collar Verification
KYC Solutions
AML Solution
Digital Address Verification
Risk Management
Digital Underwriting
All Solutions →

Checks

Employment Verification
Education Verification
Address Verification
Aadhaar Card Verification
Pan Card Verification
Udyog Aadhaar Verification
GST Verification
View All Checks →

Products

iBRIDGE
OnboardX
TruthScreen
SignDrive
AuthLead
WorkAttest
Vault
CorpVeda
View All Products →

Resources

Blogs
Customer Stories
Whitepapers

View all Resources →

Company

About Us

Careers
Newsroom

Investor Relations

Help Center

For Clients
For Candidates
Youtube Facebook Linkedin
AuthBridge is the #1 Authentication Company. Copyright 2023 AuthBridge, All Rights Reserved.
Request A Demo
Youtube Facebook Linkedin

Hi! Let’s Schedule Your Call.

To begin, Tell us a bit about “yourself”

The most noteworthy aspects of our collaboration has been the ability to seamlessly onboard partners from all corners of India, for which our TAT has been reduced from multiple weeks to a few hours now.

- Mr. Satyasiva Sundar Ruutray
Vice President, F&A Commercial,
Greenlam

Request Demo

Want to Verify More Tin Numbers?

Want to Verify More Pan Numbers?

Want to Verify More UAN Numbers?

Want to Verify More Pan Dob ?

Want to Verify More Aadhar Numbers?

Want to Check More Udyam Registration/Reference Numbers?

Want to Verify More GST Numbers?