Chip McBreen, who leads fraud prevention and security at Members 1st Credit Union in Pennsylvania, has become a believer in facial recognition tools to stop bank fraud. He says the emerging technology has already delivered results for the institution many times.South African banks have been making big moves in their use of Biometric ID management technologies lately. The applications described in the article above rely on data possessed by the U.S. banks rather than stored in government databases.
"We had a case last week where we had a person come in with a fictitious drivers license, and we actually used it (the technology) to determine that wasn't the member," he says. "It allows me to search for it (the image) very quickly and produce that for law enforcement."
Saturday, November 19, 2011
US: Banking & Facial Recognition
When financial fraud meets facial recognition, the jig may be up (International Business Times)