From child safety to fighting federal crimes, here’s how age verification can be used for digital security purposes
Age verification is one of the most significant digital security measures of today. It is an important subcategory within KYCC identity verification and has become a routine practice in many industries. With an increasing number of people making the internet their home, age verification is also increasingly becoming important.
Child protection against cybercrime is considered to be the prime reason for applying age verification measures. However, that is not the one reason, and there are multiple other applications of age verification solutions as well.
Restricting the sale of alcoholic beverages to underage customers.
Teens and adolescents are usually very curious about age-restricted products. This makes them want to try out alcoholic drinks. In physical stores, identity verification regulations through ID checks keep underage buyers at bay. However, online, restrictions are hard to make the tech-savvy kids of today follow. As a result, minors are consuming 8.6% of all alcoholic drinks in the US market. This makes KYCC implementation crucial for businesses to stay compliant.
The current legal age for consumption of alcohol as per FDA regulations is 18. Age checks allow businesses to screen all their customers and filter out those below the defined age. For instance, an online grocery store can mark certain products as “age verification required”. The cashier then has to test for IDs for each of these products.
Importance of Online Age Verification for controlling cannabis and tobacco usage
Tobacco has been a legal and commonly consumed substance for decades. The legalization of cannabis, however, is a controversial topic. After plenty of outcry from the public to legalize it, today 33 US states deem marijuana as being legal. With growing acceptance, the industry’s worth is also rising. Today, the 2027 estimated industry value is USD 73.6 million,
Reducing cannabis, and tobacco sales to minors through KYCC or identity verification is one of the most essential steps for a safe substance industry. For tobacco, the threshold age is 18 years and for cannabis consumption, it is 21 years. However, just like alcohol, most minors are curious about drugs. Today, about 37% of high school students in the US have used marijuana. This curiosity can have serious consequences, which is why age verification solutions are important for all businesses dealing with such products.
How Gaming and gambling industries are risking minor safety
The gaming industry is massive with a 2023 industry worth of about USD 372 billion. The gambling industry is huge as well albeit much less in comparison with USD 107.40 billion worth. Age verification online is crucial for both industries due to their own separate reasons.
Gambling is a strictly adult-only activity. In the offline world, only age verified individuals are allowed to enter bars and casinos. Online, however, through digital casinos and betting sites teens and adolescents can, with ease, access restricted content and activities. KYCC implementation through strict identity verification can help keep minors at bay and avoid risks such as mental health and addiction issues, and even potential drug usage.
Gaming is relatively safer. There are many video games out there that are safe for children. However, the gaming industry is one of the big hotspots for hunting children for trafficking, grooming, and cybersexual abuse. By restricting adults from children’s games and children from adult games, through age verification, we can keep children safe. Additionally, age verification solutions that limit access to certain features such as chat rooms can also protect kids on games that allow both adults and minors.
Why it is important to verify age before pension registration
In the United States, the full retirement age for citizens to access 100% of their retirement benefits is 70. After 62, however, you can start receiving some benefits. If you do start receiving your pension early, a small percentage is cut off from the total value, for every passing month till you’re 70.
The government is strict with these numbers and even a single day can make a percentage difference amounting to a great collective value. Moreover, scammers also target pension schemes and pension-eligible citizens through pension fraud.
Identity verification solutions can help ensure that the benefits are only accessed by those who deserve them, and through age verification, we can also ensure that the federal treasury does not get scammed by false age reports.
To sum up
The global KYCC ID verification industry is growing with a CAGR rate of 16.7% and age verification covers a big part of it.
From minor safety to protecting federal reserves, age verification solutions and laws are essential for keeping checks on both public and private processes. While it may seem like a simple solution, the benefits penetrate the deep structure of our public systems. In the end, all we need to do in order to verify age and build safe businesses is to just set up good IDV systems.