<s>
An	O
identity	B-Application
verification	I-Application
service	I-Application
is	O
used	O
by	O
businesses	O
to	O
ensure	O
that	O
users	O
or	O
customers	O
provide	O
information	O
that	O
is	O
associated	O
with	O
the	O
identity	O
of	O
a	O
real	O
person	O
.	O
</s>
<s>
The	O
service	O
may	O
verify	O
the	O
authenticity	O
of	O
physical	O
identity	O
documents	O
such	O
as	O
a	O
drivers	O
license	O
,	O
passport	B-Protocol
,	O
or	O
a	O
nationally	O
issued	O
identity	O
document	O
through	O
documentary	O
verification	O
.	O
</s>
<s>
Identity	B-Application
verification	I-Application
services	I-Application
were	O
developed	O
to	O
help	O
companies	O
comply	O
with	O
Anti-Money	O
Laundering	O
(	O
AML	O
)	O
and	O
Know	O
Your	O
Customer	O
(	O
KYC	O
)	O
rules	O
,	O
identity	B-Application
verification	I-Application
is	O
now	O
a	O
vital	O
component	O
to	O
the	O
transaction	O
ecosystems	O
of	O
eCommerce	O
companies	O
,	O
financial	O
institutions	O
,	O
online	O
gaming	O
,	O
and	O
even	O
social	O
media	O
.	O
</s>
<s>
A	O
non-documentary	O
identity	B-Application
verification	I-Application
requires	O
the	O
user	O
or	O
customer	O
to	O
provide	O
personal	O
identity	O
data	O
which	O
is	O
sent	O
to	O
the	O
identity	B-Application
verification	I-Application
service	I-Application
.	O
</s>
<s>
An	O
additional	O
method	O
to	O
service	O
Identity	B-Application
Verification	I-Application
that	O
is	O
gaining	O
industry	O
prominence	O
is	O
artificial	B-Application
intelligence	I-Application
,	O
more	O
commonly	O
referred	O
to	O
as	O
artificial	B-Application
intelligence	I-Application
–	O
based	O
identity	B-Application
verification	I-Application
.	O
</s>
<s>
However	O
,	O
there	O
have	O
been	O
concerns	O
about	O
Eurocentric	O
bias	O
in	O
artificial	B-Application
intelligence	I-Application
and	O
how	O
that	O
could	O
affect	O
the	O
accuracy	O
of	O
results	O
.	O
</s>
<s>
Industries	O
that	O
use	O
identity	B-Application
verification	I-Application
services	I-Application
include	O
financial	O
services	O
,	O
digital	O
businesses	O
,	O
travel	O
and	O
leisure	O
,	O
sharing	O
economy	O
businesses	O
,	O
telecom	O
,	O
FinTech	O
,	O
gaming	O
and	O
entertainment	O
.	O
</s>
<s>
Identity	B-Application
verification	I-Application
services	I-Application
exist	O
both	O
online	O
and	O
in-person	O
to	O
verify	O
identities	O
.	O
</s>
<s>
These	O
services	O
are	O
used	O
in	O
the	O
financial	O
service	O
industry	O
,	O
e-commerce	O
platforms	O
,	O
social	O
networking	O
sites	O
,	O
Internet	B-Application
forums	I-Application
,	O
dating	O
sites	O
,	O
and	O
wikis	B-Protocol
to	O
curb	O
sockpuppetry	O
,	O
underage	O
signups	O
,	O
spamming	O
and	O
illegal	O
activities	O
like	O
harassment	O
,	O
Identity	O
fraud	O
,	O
and	O
money	O
laundering	O
.	O
</s>
<s>
For	O
example	O
,	O
in	O
banking	O
,	O
identity	B-Application
verification	I-Application
may	O
be	O
required	O
in	O
order	O
to	O
open	O
a	O
bank	O
account	O
.	O
</s>
<s>
In	O
December	O
2020	O
the	O
U.S.	O
government	O
's	O
Financial	O
Crimes	O
Enforcement	O
Network	O
(	O
FinCEN	O
)	O
has	O
proposed	O
rules	O
to	O
require	O
banks	O
and	O
money	O
service	O
businesses	O
(	O
“	O
MSBs	O
”	O
)	O
such	O
as	O
cryptocurrency	B-Protocol
wallets	I-Protocol
to	O
submit	O
reports	O
,	O
keep	O
records	O
,	O
and	O
verify	O
the	O
identity	O
of	O
users	O
who	O
perform	O
transactions	O
with	O
convertible	O
virtual	O
currency	O
.	O
</s>
