Financial Crime World

Kazakhstan Companies Turn to Regula’s Fraud Detection and Prevention Software to Protect Against Rising Threats

Introduction

In the wake of a global economic crime survey, which revealed that nearly 46% of companies experienced some form of fraud in the last 24 months, Kazakhstan-based businesses are turning to cutting-edge fraud detection and prevention software from Regula. The solution is designed to seamlessly identify real customers while blocking fraudulent attempts, allowing companies to strike a balance between security and user experience.

Rising Threats to Businesses

According to PwC’s Global Economic Crime and Fraud Survey 2022, almost half of the surveyed companies reported experiencing some form of economic crime in the past two years. This highlights the urgent need for robust fraud prevention measures to safeguard businesses, profits, and reputations.

Regula’s Innovative Solutions

Regula’s innovative solutions leverage advanced document verification and biometric data checks to detect even sophisticated fakes. The software utilizes AI algorithms to analyze the entire page of a document, cross-checking data from visual zones, MRZ, NFC chips, barcodes, and holograms to ensure the highest level of identity verification.

Comprehensive Database

The comprehensive database includes over 14,000 document templates from 251 countries and territories, providing businesses with unparalleled coverage. Regula’s SDKs enable companies to integrate fraud detection into their customer onboarding workflows without adding extra friction or sacrificing user experience.

Case Studies

Kazakhstan-based companies across various industries have already benefited from Regula’s fraud detection and prevention software. From technology to finance, these organizations have seen significant reductions in document processing time, typos, and fraudulent attempts.

“We pride ourselves on operating to the highest standards around test security,” said Farzana Ashraf, CTO & SVP, Products & Services at Pearson VUE. “Regula’s technology offers global coverage and fast verification of government-issued identification documents. With Regula, we’ve enhanced our fraud prevention process while continuing to offer a consistent candidate experience.”

Suite of Solutions

Regula’s suite of solutions includes:

  • Document type identification
  • Optical character recognition (OCR)
  • Face matching
  • MRZ reading
  • RFID reading
  • Barcode reading
  • Credit card reading
  • Liveness detection
  • Hardware-assisted authentication

Conclusion

As Kazakhstan’s business landscape continues to evolve, companies are recognizing the importance of investing in robust fraud detection and prevention measures. Regula’s innovative solutions provide a powerful tool for businesses to protect themselves against rising threats and ensure continued success.