Document Fraud Detection

Protect your organization from document fraud

Mitigate risks, improve compliance, and avoid financial losses with AI-powered document fraud detection.

The financial impact of document fraud

Digitizing your business operations brings numerous improvements, including increased efficiency and improved data management. But it also comes with significant risks: the low barrier to document forgery and fraudulent transactions. These transactions cost organizations across the world an estimated 5% of their annual revenues, amounting to $5 trillion.

The banking and financial services sectors are the most attractive industries to criminals and fraudsters, closely followed by insurance, healthcare, and government organizations. To protect their profits, reputation, and customers, organizations are tasked with increasing their investments in preventative resources to meticulously review and check incoming documents.

Organizations face significant challenges with fraud detection

Inefficient and expensive manual verification
Mix of document types, formats, and quality
Incomplete fraud detection solutions
Constantly evolving fraud landscape

Safeguard your critical business processes with best-in-class fraud detection technologies

Account registration and onboarding
Prevent fraudulent access to bank services by identifying identity theft, invalid identity documents, and altered proof of address or utility bills.
Mortgage and consumer lending
Protect and secure your lending approval process by spotting false statements, misrepresentations, forged identity documents, or modified content.
Insurance claim processing
Identify and prevent fraudulent claims by detecting falsified vendors, altered invoices, untrustworthy sources, or duplicated documents.
Benefits enrollment
Ensure benefits are only given to those who are eligible by avoiding duplicate proof of income, falsified eligibility documents, or altered proof of identity, address, and residency.
Secure the transfer of funds by catching duplicate invoices, modified payment terms, edited payment requests, or non-compliant vendors.

How AI-driven document fraud detection works

ABBYY intelligent document processing uses AI technologies to transform documents into data, helping you to automate and accelerate your business processes. Adding fraud analysis technology ensures your documents and content are authentic, compliant, and haven’t been tampered with. This will reduce your exposure to financial risks, control costs, and enhance your customer experience.
  • Collect and automatically classify
  • Extract and validate
  • Analyze document
Collect and automatically classify “proof of” documents

Organizations receive a range of documents, including:

  • Proof of identity – passports, identity cards, drivers licenses
  • Proof of income – payslips, bank account statements, tax statements
  • Proof of residency – utility bills, proof of address, mortgage bills
  • Proof of payment – invoices, receipts, bank statements, payment confirmations
  • Proof of delivery

These documents come through different channels, such as emails, mobile capture processes, or chatbots, in a variety of formats.

ABBYY IDP applies AI-based classification to detect different documents, classify and tag each document type, and route them to purpose-built AI models for further processing.

How AI-driven document fraud detection works 1
Extract and validate required data with AI models

Purpose-built AI models, called “skills”, accurately extract, normalize, and validate key data from each document type based on pre-defined business rules. These validation methods can include:

  • Cross-checking ID data with data contained in the MRZ (machine-readable zone) of the ID
  • Cross-checking line item amounts on an invoice against its total
  • Confirming document validity based on expiration date or date of issue

Any extracted data that doesn’t match the requirements is flagged for manual review and special attention.

How AI-driven document fraud detection works 2
Analyze document authenticity with AI

AI-based document forensics solutions perform complex authenticity checks within seconds through layout, content, and digital analysis. The forensics search for use of blacklisted fraudulent templates, document reuse, digital modifications, and more.

The underlying AI models continuously learn and improve with each document they analyze, while incorporating assessment techniques from emerging fraud practices.

The solution then provides risk assessment scores and supporting data to expedite decision making.

How AI-driven document fraud detection works 3

Prevent fraud with best-in-class, AI-based intelligent document processing and fraud detection

Risk mitigation and compliance
Reduced risk of financial losses and confidence in compliance with imposed regulations.
Protection from financial losses
Minimize the risk of financial burden and penalties due to falsified documents.
Preserved reputation and customer trust
Avoid negative exposure and reputational damage to preserve your customers’ trust.
Streamlined operations
Full coverage of incoming documents in real time with fewer resources and investment required.

Protecting Against Fraud and Money Laundering

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Protecting Against Fraud and Money Laundering

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Fraud detection FAQs

What is document fraud?
What are the different types of document fraud?
What types of documents are most commonly faked?
What industries can benefit from a document fraud detection solution?