In today’s digital age, with cybercrimes on the rise, running any business requires the integration of efficient identity verification solutions. ID verification allows companies to understand who their customers are.
Age verification is one of the most critical KYCC regulations for B2C businesses of today. It allows businesses to screen their customer base and filter out those below a certain age. Today, multiple age verification solutions are available in the market and offer services for minor protection and business regulations compliance.
Online age verification for kids: why is it important
The digital world has led to horrific cyber crimes our way. When it comes to those targeting children, the crimes are never-ending. The list of cybercrimes against minors includes cyberbullying, online grooming, cyberstalking, and online sexual violence. According to a 2020 research study conducted in the US, 6 out of 10 children are victims of cybercrime. Further data accessed from the study reports:
- 12 million children – exposed to cyber risks
- 9 million children – victims of online bullying and abuse
- 6 million children – received different forms of threats online
Moreover, the FBI reported a loss of USD 577,464 in the year 2021 due to digital crimes against minors, as well as an average of 7 reports of cybercrime against children per day.
Crimes against children are rising and the data makes it very evident. For now, the only solution in sight is strict law enforcement, effective KYCC regulations, and widespread identity verification measures.
Age verification solutions for KYCC
Age verification allows online businesses to authenticate their customers’ ages. One of the prime reasons behind the importance of identity and age checks is KYC. KYC or Know Your Customer is a legal and regulatory requirement for businesses to implement in order to understand their customer base. This is extremely important for security reasons. KYCC or Know Your Customer’s Customer helps you understand the people that those utilizing your services or products are dealing with.
Age verification solutions come in a range of versions for implementation. For example, in some situations, you may only need to use age verification and in others, you might extensive identity verification services. Digital services offer solutions customized exactly as per a business’ needs.
Age verification online: Looking at the range of applications
Digital solutions that allow businesses to verify ages of their users exist and offer services to many kinds of businesses. These businesses include but aren’t limited to banks, gaming platforms, online gambling sites, pension programs, dating services, e-commerce stores selling age-restricted goods, and money exchange platforms. Even social media sites are looking for ways to set up effective age verification systems to restrict underage users.
Age verification for Alcohol and tobacco sales
Underage alcohol and tobacco consumption can have serious health consequences for minors, and both are common and significant health concerns for minors in the US. Today, tobacco usage is increasing even more because of flavored and electronic cigarettes.
In the offline world, minors are strictly restricted from buying alcoholic beverages. On the internet, however, things work differently. Here, children can access anything from the comfort of their homes. Moreover, traditional identity verification methods require users to simply click “Yes” or “No” in answer to the question “Are you over the age of 18?” ID verification needs to be accurate and digital KYCC helps regulate that.
With the global vape market expected to reach USD 182.84 billion by the year 2023, age verification solutions have become the need of the hour to curb tobacco usage. Modern solutions allow businesses to set up efficient systems that can guarantee effective verification. By ensuring that only individuals who have been age verified can access alcoholic and tobacco-containing products, businesses can stay compliant and help improve public health.
Who are dating sites meant for? Strict verification to enforce regulations
When it comes to minor safety, online dating sites can harm kids through two separate avenues.
The first one is your typical dating site designed to be used by adults. The problem here is teens who bypass the simple age verification filters set in place and get on these sites. As a result, these children then become more at risk of abuse by an adult. Moreover, many times victims of child sex trafficking can be forced onto these sites.
On the other hand, we have dating sites set up specifically for minors. A lack of KYCC can lead to these sites being easily accessed by predators and child traffickers who can entrap minors.
Age verification solutions set up to limit minors on adult sites and adults on teen dating sites can help create a barrier between the two groups protecting children. While most services do promise effective identity verification, multiple scandals of minors joining popular dating sites have stirred up over the past few years. This solution is strict filters. For instance, even Facebook recently made public its decision to introduce age verification for Facebook dating.
To sum up
Minors are one of the most sensitive socio-demographic groups. With an ever-increasing cybercrime rate, the protection of children in today’s digital world has become a social responsibility of all adults. Implementation of KYCC through age verification solutions can help foster a safe digital world for future generations. Moreover, for businesses, it means a better rapport in the industry, better compliance with regulations, and increased public trust.