self verification

Nowadays, KYC requirements often mean you need to send your personal identification to a cryptocurrency exchange and other finance-related businesses in order to use their services. While this is done in an attempt to keep you safe, it does come with risks. Keeping your identity safe when sending a selfie submission or anything alike is very important. Thus, in this blog post, I’ll be explaining how best to keep safe when sending your personal information online.

What’s The Need For Identity Verification?

There are many different use cases for Identity Verification. While many people may think it’s intrusive at first, once you understand why it’s necessary and how to keep safe whilst doing it, there are little to no problems. In fact, more often than not, it works in your favour as this method of verification is both fastest and easiest. So what are the different use cases for identity verification?

  • KBA (Knowledge-based authentication) Replacement
  • KYC & AML Compliance
  • Verifying users
  • High-Risk Transactions
  • Fraud Detection
  • User Onboarding

Staying Hacker Proof

Knowledge-Based Authentication was an authentication process used commonly before selfie submissions became common practice. Users were required to ask at least one ‘secret’ question that the user only knows. Thanks to a consistent flow of data breaches and personal identification being stolen, there’s probably a good chance cybercriminals won’t have a hard time finding a user’s security questions. With selfie identification, even if your password isn’t as secure as it should be, the extra layer of security keeps you far safer online.

As a result, Selfie submission aids in keeping your account more secure. Identity fraud is very common in South Africa, and all over the world too. It’s easy for someone to steal or forge an ID / Passport document and use it to open an account. Sending a selfie submission along with it ensures that your account is your own. Establishing an identity is critical for many high-risk electronic transactions involving any access to customer information, or simply the movement of funds to other parties. Thus, these types of transactions require higher levels of identity assurance as they are at greater risk of fraud, account attacks or even money laundering.

How Do I Send the Correct Verification?

When sending your personal identification documents initially:

  • Take a clear picture of your identity document, where every single detail is readable without any blur
  • Take the photos somewhere brightly lit
  • Turn flash off to avoid glare on your documents
  • Make sure the details on your iCE3X profile match the details on your legal document
  • Make sure that your legal document has at least 3 months validity left on it
  • Do not take a picture of a picture

When sending your selfie submission, we need:

  • Your face
  • Your ID
  • A handwritten note saying iCE3X and the date

A simple mockup of what we are looking for looks something like this:

identity

Conclusion about Selfie Submission

Sending selfie submissions is quick and easy. Once you know what you’re doing, you’ll be verifying and securing your most important online accounts with ease. Keeping your account secure is highly important, especially when dealing with money. Follow this guide and you’ll be even safer when inputting information online.

Have you been staying safe online? If so, let us know how in the comments below!

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