The pandemic and current world trends have pushed people to online payments, as they are convenient. However, this convenience has opened an assortment of problems, as hackers are increasingly taking advantage of weaknesses in the payment systems to have a share of what belongs to others. Notaries are a line of defense for such actions, as they help people mitigate the risk of online fraud. The world of online notarization has also become another point for fraud, as many are coming up to offer impartial checks against fraud with false intentions.
How Secure is Remote Online Notarization (RON)?
An increase in the number of online services that require money transactions has led to a jump in the number of untested platforms and an increasing number of security issues. Inbound marketing companies such as incify.co recommend using new features such as video verification, which records transactions from start to finish, capturing any fishy actions and presenting them to the transacting parties. RON focuses much on the verification ID to prevent any mismatch. The verifying tools also check on the people transacting and complete the safety checks by hiding the digital credential of those taking part in the transactions. So, how secure are your transactions when using Remote Online Notarization (RON)?
Content Summary
Verification of identity
Knowing the person in the background
Assessing some common mistakes
How does Remote Online Notarization ensure the safety of transactions?
Verification of identity
RON has a special feature that requires parties to give out some information useful in verifying their identities. The verification process uses a choice of two technologies that the users can select. The available choices include:
- Credential Analysis: This is a technique that depends on technology, deciding whether a user’s ID is authentic. After the check, the user gains access to their transactions, which are video recorded.
- A knowledge test: RON uses this to track the activities of a user who has signed up to use the service. During the initial transaction, the user gives out some personal information, which stays anonymous. However, this information becomes useful during future transactions, where the user must answer some questions using the initial personal data entered in the system.
RON has impressive security checks, which to a greater extent, prevent fraud. However, users must also make some effort to secure the transactions. Users can do this by holding their documents besides a camera to guarantee the safety of their transactions. In addition to that, they will have to ensure that the IDs used in the transactions match in any step. Additionally, before making any transactions, users must check their state laws and confirm that they allow submission of their full names to consider security options on the web or only allow initials for online security checks.
Knowing the person in the background
Notaries have a difficult task when carrying out verifications. However, with a keen eye, they make sure the transactions done are safe. Any moment during a transaction, the parties involved must know all the people present. While a camera can help accomplish this, it cannot record those out of the field of view. Body language comes in handy during such instances to give the notaries a sign of possible fraud. Notaries look at the eye movements and other body languages to detect any form of fraud performed by people out of the field of view. Fraud in such cases includes coercion or collaborations to carry out an activity out of the agreement. Other ways to detect fraud include listening to the voices in the environment or asking questions, which put a party in an uncomfortable position as they wait for answers from people in the same room not allowed in the agreement.
Assessing some common mistakes
Many people during digital transactions trust their friends or partners who understand tech issues to stand as their signatories. This action is wrong and notaries try to prevent it. Other forms of fraud recorded include theft of personal identity online, including from personal websites coercing other groups to make a transaction. Notaries avoid this mistake by only letting those involved in the transaction do their business.
Additionally, notaries also guarantee safety by allowing people to make transactions online using some specific documents while forcing people to make a personal hand signature to others following individual state laws. Simply put, notaries are a secure way to carry out online transactions. However, your vigilance in some steps will help avoid most forms of fraud perpetrated by either party involved.
