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We’ve all seen the convincing fake videos of politicians and prominent business influencers created by AI. These AI-created images, videos, and audio content, called deepfakes, showcase how advanced AI generation tools have become. AI deepfakes often have convincing video and voice manipulation, making them increasingly difficult to identify–and this technology is only becoming more advanced and easily accessible. But did you know it’s not just public figures being targeted? Fraudsters use everyday individuals’ information, frequently scraped from social media profiles or publicly available data like secretary of state filings, to create realistic duplicates of their identities. These fraudsters then use this stolen information to open merchant services accounts in your name, process stolen credit cards, and leave you with the fallout. This newly developing deepfake trend poses a serious risk to businesses of all sizes, making advanced identity verification more critical than ever.
At Evolve Payment, our commitment to providing middle-market B2B businesses with reliable, secure, and transparent payment solutions goes beyond the merchant services we provide. We also prioritize the protection of our clients’ personal and financial information. One way we do this is through rigorous qualification processes, which sometimes include requests that seem strange on the surface, such as requesting a selfie for identity verification. This extra step may sound surprising or even silly, but it is essential to protect ourselves and our clients from fraudsters. Sophisticated threats like merchant deepfakes are becoming increasingly prevalent. Fraudsters are getting better at passing for the real deal, so Evolve Payment’s fraud detection team has to elevate our capabilities to fight back. In this blog, we’ll explain how Evolve Payment goes above and beyond to secure your data, why we do it, and how it protects your business.
The two images below are (actual) examples of unsuccessful attempts by fraudsters to bypass Evolve Payment’s verification process with AI deepfake technology. Take note of the different skin tones, background image on the first image, as well as the edited drivers license numbers being slightly ajar.
Evolve Payment’s Merchant Qualification Process
Before Evolve Payment’s merchant services become available to your business, we take the time to fully understand your needs, technology stack, goals, and any risks associated with accepting payments. By remaining vigilant, we guarantee you’re not only getting the best payment solutions for your business but that your transactions are protected from potential fraud. As part of this process, we may request key business documents and personal identity verification. Our goal is to verify that you are who you say you are and that your business aligns with our integrity and compliance standards. Depending on the circumstances, we might ask for a selfie of you holding your driver’s license or government-issued ID in a specific way. You might also receive a request for a selfie of your ID alongside your business documents to authenticate your identity further.
Why Selfie Verification?
The rise of digital fraud has led to increasingly advanced techniques, including deepfake technology in falsifying identity. Deepfakes are AI-generated synthetic media where one person’s likeness is replaced with someone else’s. These can be used to create highly convincing but fraudulent videos, images, and documents, putting your personal and financial security at risk. ‘Top-quality’ deepfakes used to be difficult to produce, requiring advanced technological know-how and computers with expensive processing capabilities. However, as the Department of Homeland Security states, deepfake processing is becoming more accessible from a cost and computational standpoint. As a result, high-quality, believable deepfake attacks will become more prevalent and more successful in the near future.
Naturally, as the capabilities of fraudsters increase, so must the techniques to counteract their efforts. Selfie verification is one such technique. Combined with Evolve Payment’s other authentication methods, it adds an effective extra layer of protection. By requesting a real-time selfie, we can compare it to your official identification and prevent malicious actors from using deepfake technology to impersonate you. While this process might seem inconvenient, it’s a simple yet highly effective way to ensure that only legitimate users access our platform.
Going Beyond Standard Merchant Security Practices
Effective fraud identification combines multiple fraud detection techniques into one comprehensive effort. This is because a deep web of security checks is much harder for a fraudster to break through than just one isolated technique. Adhering to this philosophy, Evolve Payment also employs advanced encryption protocols, two-factor authentication, and continual monitoring to keep your sensitive data secure. We believe in a multi-layered approach to security, ensuring that your information is safeguarded from every possible angle. Fraudsters are constantly developing new methods to exploit vulnerabilities, but at Evolve Payment, we always stay ahead of the curve. Our team takes security seriously because your trust is our top priority. Whether you’re onboarding with us or completing routine transactions, we want you to feel confident that your business is protected from threats—both known and emerging.
Personalized Attention for Enhanced Client Safety
Evolve Payment’s customer service is rooted in getting to know each client personally. From the first introductions, we aim to establish a relationship of trust and transparency through direct, interpersonal communication. This personalized approach not only helps us tailor our services to meet the unique needs of your business, but it also helps us to better protect you. Understanding our clients on a deeper level allows us to recognize any unusual activity that might indicate fraud. We can quickly intervene if we notice something that doesn’t align with your typical business behavior, which helps minimize the risk of breaches or fraudulent transactions. Our team’s fraud protection process is designed with efficiency in mind to minimize the friction you experience along the way.
Forward-Thinking Security Protocols to Protect Our Merchants
In a world where cyber threats like deepfakes are becoming more sophisticated, Evolve Payment is dedicated to staying at the forefront of security practices. Our qualification process, which may include selfie verification, is just one example of how we go the extra mile to protect our clients. When you choose Evolve Payment, you’re not just opting for a payment processing service—you’re choosing a partner committed to your business’s long-term security and success.
Book a time to chat with Don, our merchant expert, and learn how Evolve Payment can advocate for your business and save 20%-40% on processing fees.