In the business sector, digital age verification has become a sensitive and popular topic these days. The use of digital landscape and smart devices has become very common as technology is progressing every day. The surge in minors’ usage of advanced technologies is concerning. According to Shufti Pro news, in the US, 53% of children own mobile phones at the age of 11, and 84% of teenagers have smartphones.
The substantial ratio of minors engaging themselves in developed technologies raises a concern for business sectors to opt for age checks to protect minors. The demand has increased for age verification solutions in recent years. That is when firms started operating their businesses online. Due to this ideal shift, multiple cases have been reported of minors accessing age-restricted products, content, and services.
A Deeper Case View
A mishap happened when a 16-year teenager bought a blade from Amazon online and ended up stabbing a schoolboy eventually taking his life. The ratio of these accidents started rising. That is why regulators adopted strict measures in order to protect minors from throwing themselves into the fire pit. They are exploring new paths to deal with firms that have failed to protect minors online.
Age Verified and Regulatory Compliance
The administration of different countries is introducing new digital age verification laws to protect minors. The US administration enacted the law for selling and purchasing age-restricted products and services. The President has commended the legislation that revise the Federal Drug, Cosmetic, and Food in 2019. The minimum age for tobacco product sales has increased from 18 to 21. In some countries, the Nicotine Vapor products (NVP) law has prohibited the sale of tobacco and nicotine for kids under 18. Furthermore, it has become mandatory for businesses to identify the identity cards of buyers who look like minors.
Age Restrictions – Relic of the Past
Organizations are placing age gates on their websites in order to prevent children from accessing explicit content or age-restricted products as a result of digital age verification regulations. But are they effective enough to prevent underage users from continuing? They aren’t any longer. The cause for this is that age gates depend on the user’s honesty in entering their DOB or checking a box to confirm their age. No one knows if the users are telling the truth or not because there is no way to verify age through the information they supply.
What will happen to the Age Verification Software Market by 2025?
The growing number of frauds in today’s virtual world necessitates the development of a more robust verification system. Protecting kids is becoming more difficult, but age verification software is assisting businesses in keeping minors away from explicit content. As per Shufti Funding, the market has grown dramatically as a result of increased demand for age verification checks.
According to projections, the market for age verification software will increase rapidly by the end of 2025.
The survey was conducted in various regions that don’t have reliable age verification online, particularly on social media sites. It is not legal to access gambling, alcohol, or dating websites. Minors have little difficulty accessing gambling, alcohol, or dating websites. It’s not a big deal if you give inaccurate information in the ‘date of birth’ box.
The report’s geographic breakdown includes the United States, Canada, the United Kingdom, the Middle East, the Gulf Cooperation Council countries, and Europe. The regulatory organizations, as well as games and gambling service providers. You have a social obligation to make the technology platform safe for children.
The Bottom Line
Businesses cannot rely on simple age restrictions. To comply with online age verification and KYCC & AML regulations, the solution is simple. They can adopt a comprehensive age verification system that confirms not just the individual’s age but also their identity.
Businesses can utilize AI-powered age verification solutions to verify a user’s age using government-issued identity documents such as an ID card, driver’s license, or passport. All the user has to do is enter their place of birth and showcase their Identity card in front of a digicam or cellphone camera to have their age checked. The innovative solution uses OCR to automatically extract data from ID documents and authenticates the acquired information and the user’s face. This technology can verify an individual’s age in a matter of seconds, assuring a smooth customer experience.