Identity Verification (IDV)

How does identity verification work?

Identity verification (IDV) establishes that a person really is who they say they are. It draws on one or more sources: a genuine identity document such as a passport or driver licence, a biometric like a face match, or trusted data checked against authoritative records. Stronger IDV combines several of these so a single stolen document is not enough to pass.

For example, before adding a new signatory who can approve payments, a finance team confirms the person’s document is valid and that a live face check matches it, rather than accepting a scanned licence at face value.

Why it matters for Australian finance teams

Under Australia’s AML/CTF regime, reporting entities must identify and verify the people they deal with, and AUSTRAC supervises how well they do it. Beyond compliance, weak identity checks are how impersonators and synthetic identities slip into payment and payroll processes. For finance teams, reliable IDV is the foundation that account and payment checks build on.

How ezyshield helps

ezyshield uses identity verification, including document checks and biometric matching, as part of confirming the person before money moves, alongside verifying the business via ABN and ASIC records and confirming bank account ownership. It re-verifies when details change, and logs each check in an append-only audit trail that is never edited or deleted. See how it works and security at ezyshield.