Fighting Back Against Fraud and Forgery: Proof and Socure Partner to Secure Every Critical Agreement and Customer Interaction

Our most valuable assets – our homes, plots of land, and estates – are still transacted through the transfer of paper documents with weak or no digital identity processes. Scams surrounding these critical assets are mounting nationwide, and result in hundreds of thousands of dollars per incident. 

The losses are adding up — fast. FinCEN reports that false records and forgery cause a staggering $45 billion in fraudulent activity annually – more than double the $18 billion associated with money laundering and other financial crimes.

From account openings to everyday forms, authorizations, loans, and transfers, every customer touchpoint is a new opportunity for fraud. And unfortunately, fraud is easily scalable these days with cheap and accessible tools for creating deepfakes, synthetic identities, and falsified records. 

Partnering Up with Proof

To combat this growing threat, Proof and Socure have joined forces in a strategic partnership. As the market leader for remote online notarization and identity-secured transactions, Proof’s new product, Defend, leverages more than 100 behavioral and data signals to combat fraud in the execution of its customers’ critical agreements. With the addition of Socure, Proof brings its market leading anti-fraud and identity verification capabilities to the real estate, mortgage, auto, retirement, banking, legal services, and countless other industries. 

Together, Proof and Socure’s proprietary identity verification and fraud prevention capabilities create a multi-layered defense that makes it prohibitively expensive and ultimately impossible for fraudsters to evade detection. With Socure’s ability to analyze over 30,000 signals in real time — including PII, barcode data, device and behavioral intelligence, geolocation, and biometric signals — the partnership will help businesses gain a broader view of identity risk. 

Identivation Summit Session Preview | Giving Away the Farm: How Our Most Critical Documents Fuel Identity Scams

During the Identivation Summit 2024 on May 20-22, Socure founder and CEO Johnny Ayers will sit down with Proof CEO Pat Kinsel to shed light on the intersecting roles of digital identity verification, digital notarization, and innovative strategies to combat large-scale deed scam operations. 

Fraudsters will prey where there are weak identity controls and a lack of clarity in the lines of liability and straightforward victim recourse. Together with Proof, we’re working to close those gaps to help businesses stay ahead. 

To learn more about the partnership, read the press release here.