Various banks and brokerage firms provide account statements to their customers. These statements serve as verification documents of address, net assets, and account status, among other things. It is imperative that the third party scrutinizing the statement be pleased with its legitimacy.
Account statement fraud is becoming increasingly common as a result of technological developments. Scammers are learning ways to alter information more efficiently and camouflage changes through graphics rendering and deep fake engineering. As the phrase suggests, it can refer to various activities, including the modification of legitimately issued account statements, and the fabrication of fake account statements that resemble legitimate account statements.
ProofEasy Blockchain Technology- A Solution
ProofEasy’s features can help you solve the problems of Account Statement tampering in the following ways:
QR Code Validation:
Bank documentation and account statements typically have blank fields, which can be exploited to enter false information and leak from the supply chain. Fraudsters can manipulate these empty fields, as they are vacant and are often left unchecked. ProofEasy uses a patented QR code, which cannot be duplicated when generated on a submitted document.
Easy API Integration:
ProofEasy helps in significantly reducing account statement fraud and enhancing document safety operations. Furthermore, ProofEasy helps increase the integrity of the fulfillment channels if companies employ outside suppliers for document generation. ProofEasy's framework is developed for simple integration and low-cost automated creation of tamper-proof account statements.
To keep all financial statements tamper-proof, one must adapt to technology advancements and apply them in the best possible manner. ProofEasy’s blockchain system with QR code ensures safety for your bank account or financial statement by eliminating the need for third-party participation for document verifications.