What is data verification on the Internet? Brokers' requirements and denial of verification. Finally, I suggest watching a useful video to gain the self-confidence and self-confidence that we all need so much.
Duhem-Quine thesis
Metalanguage
IN various fields human activity under verification(from lat. verus- “true” and facere - “to do”) may imply different concepts. For example:
- Verification- this is confirmation of the final product’s compliance with predefined reference requirements.
- Verification- technique for recognizing lies (concealment, distortion).
In the meaning of provability, verifiability of explanations (models) of objects/phenomena, depending on the degree of confirmation by reality (empirically, facts), forms the concepts:
The root of different understandings of the concept of verification lies in the range of possibilities for comparing the compliance of the final product with predefined requirements. It is possible to verify the compliance of the final product with predefined requirements, depending on the situation, by the direct and indirect characteristics of this final product. And there is also a process approach that tracks the progress of the product towards predefined requirements.
Formal verification
Wikimedia Foundation.
2010.:Synonyms
See what “Verification” is in other dictionaries: - (by this, see previous word). Certificate, verification. Dictionary of foreign words included in the Russian language. Chudinov A.N., 1910. VERIFICATION certificate, certification of authenticity. Dictionary of foreign words included in the Russian language.... ...
Dictionary of foreign words of the Russian language Checking documents, calculations, etc. Dictionary financial terms . Verification Verification establishing compliance of received and transmitted information using logical methods . In English: Verification See also:… … Information interactions
Financial Dictionary - (from Latin verificatio proof, confirmation) establishing the truth or empirical meaningfulness of scientific statements. This term has become widespread in connection with the neopositivist program of empirical substantiation of science. WITH… …
Verification- Verification ♦ Verification Checking the truth of a statement in order to evaluate it. Thus, a calculation can be verified by repeating the same operation or performing a different one, and a hypothesis can be verified through experiment. True, the question remains about the truth of the test itself - ... ... Sponville's Philosophical Dictionary
In cultural studies (late Lat. verificatio proof, confirmation of the fidelity or truth of something; from Lat. verus true and facio I do) establishing the truth of certain judgments (affirmations and denials) about culture in the knowledge of ... ... Encyclopedia of Cultural Studies
Verification, comparison, confirmation, evidence Dictionary of Russian synonyms. verification noun, number of synonyms: 5 validation (4) ... Synonym dictionary
verification- and, f. verification f. Certificate, certificate of authenticity. SIS 1954. Not for vanity, but for this reason I entered this prolific description; I forgot some incidents and don’t remember verifying numbers and names, having never written any notes.... ... Historical Dictionary Gallicisms of the Russian language
Verification- (lat. verificatio del, rastau) – gylymi akikat pen onyn derekteri (malіmetteri) empirikalyk, yaғni tәzhiribelіk tekseru arkyly aykyndalada degen adіstemelik concept, principle. Ol logicalyk positivism men analytics philosophy bir tarmagy... ... Philosophy terminerdin sozdigi
verification- control verification Establishing compliance of received and transmitted information using logical methods. verification (ITIL Service Transition) Activities that... ...
Technical Translator's Guide English verification A. Verification of the authenticity and correctness of documents and materials. B. The process of comparing a copy with the original Dictionary of business terms. Akademik.ru. 2001 ...
Dictionary of business terms - (from Latin verus true and facio do), verification, empirical confirmation theoretical provisions science by comparing them with observed objects, actual data, experiment...
Modern encyclopedia
- Books
Not everyone can answer this question. Often, many people, having heard this word, do not understand what it means and in what area it is used. So, let's try to figure this out. To begin with, it is probably worth conducting a linguistic analysis. This word came into Russian from Latin and is translated as “true” - verus and “to do” - facere. So, to verify is to confirm someone’s identity. Having understood this, the meaning of this term immediately becomes clear. But where is this word used? And the term “verify” is used in different areas and quite active. For example:
- In the bank. Verifying the client's identity, the data that the client provides, and verifying the transaction is very important. Nowadays, many clients carry out most of their transactions via the Internet. And you need to be sure that the client and the bank itself will not be subject to fraud. Therefore, for the security of the transaction, the client must confirm the seriousness of his intentions using special code. This code will be sent to your number as an SMS message.
- In science. The term is very actively used in philosophy and medicine.
- In the Internet. Verifying your identity in in social networks occupies a special place. Verification on the Internet is simply necessary in order not to stumble upon scammers.
- In the quality system. For example, this is checking products according to GOST.
Verification examples.
There are many examples that can be given, but we will turn our attention to the most famous ones. For example, if you decide to create a wallet in a payment Webmoney system, then during registration you will be asked for your passport information. Many thoughts immediately arise in your head about this, but you just need to push them aside and confidently provide your personal data for registration. This data is needed to understand whether you are a real person or not. After registration, no one will need them anymore and will not be used anywhere without your knowledge. Therefore, there is no need to be afraid.
Link the card to your account payment system It won't work without checking. You will definitely need to undergo verification.
Verification on social networks is worth talking about separately. IN Lately this has become very important because every day cases of fraud with different pages. The user may not even suspect that scammers can use his photo or personal data for their own purposes.
The number of fake pages is growing every day. Anyone with a computer and Internet access can create a page with the name and photo of a celebrity and distribute any information from it. Of course, it won't always be pleasant. Therefore, actors, singers, directors, politicians and many others verify their pages on social networks and ask their fans to subscribe only to these pages and not visit fake ones.
On Twitter, verification is required. Because users must be 100% sure that they are actually reading the celebrity block.
How do you know if a page is verified?
Very simple. If you see" blue ticks"on your idol's page, then know that these are not fakes, but a verified wanderer. And everything you see here will be the truth, not fiction.
Quality verification in production is also important. The consumer of goods must know what product he is buying. Have all requirements been met during the production of the product and its transportation and then storage? For example, scientists have created a new medicine. All animal tests were carried out and it was found that this medicine is suitable for human consumption and can be sold in pharmacies. This means that this medicine has been verified, that is, it has passed tests and meets all the requirements that were presented regarding this subject.
In medicine, this term is not new and is very widely used. The diagnosis is almost always verified, i.e. his recheck. For example, in oncology, a repeat biopsy is performed to ensure the accuracy of the diagnosis, and if the biopsy is positive, chemotherapy is prescribed.
Pros and cons of verification.
Of course, verification has many advantages. Having understood where this term is used, it becomes clear that the use of verification is a continuous plus, at least in relation to fraud. But there are not so many disadvantages. He is probably the only one - added extra work and time is wasted on verification.
Having understood what verification is and understanding the application of this term, it immediately becomes clear that it is very important in modern world. Needed not only by officials and celebrities, but also by ordinary people, ordinary users. This is necessary in order to avoid fraud.
If you are still completely new to the market and have never traded on a real deposit, then you most likely have not had to deal with the need to go through the verification procedure. It is not needed if you are trading on a demo account.
While you are practicing on the demo, the question is: what is verification, will not arise. However, as experience grows, there is a desire to switch to a real account, and if you choose a large brokerage company, then be sure that they will ask you to go through this procedure. So what is verification and why is it needed? Let's figure it out.
Verification or identification of identity
In other words, verification is the identification of the identity of each specific trader. Considering that today trading is at financial markets conducted via the Internet, there are many opportunities to carry out various types of fraudulent transactions, while being in the “shadow”.
In order for the relationship between a broker and his client to be trusting, it is necessary to prove that you are exactly the person you are reporting when registering an account. It's the same as showing your documents to any financial institution, such as a bank.
In addition, every major financial regulator that controls the work of financial organizations requires verification of all traders who open accounts in companies under its control.
Who needs verification in financial markets
When a trader is asked to undergo verification, some traders begin to doubt the need for this procedure. However, this is necessary not only for the broker due to the requirements of its regulator, but also for the trader personally for several reasons.
- Let us remind you that verification of customer accounts is a requirement of regulators;
- Verification helps prevent fraudulent financial money laundering schemes that traders are sometimes involved in. This in turn allows maintaining transparency of market transactions and ensuring the security of trade;
- After completing the verification procedure, you can count on resolving any conflict that arises legally. Sometimes certain conflicts and misunderstandings may arise between a broker and a trader. Only a verified client can be sure that his interests will be taken into account in accordance with established legislation;
- Verification does not allow those who do not have the right to do so for certain reasons to trade. For example, persons under the age of majority are not allowed to trade;
- Even if your password for your personal account on the broker’s website is stolen, the attackers will no longer be able to withdraw your money to their wallets (withdrawals will only be possible using your personal details).
What is needed to verify your account?
As you can see, verification is very important stage, without which you should not enter the open market. During identification, the trader will be asked to upload copies of some documents. It can be:
- A scanned document confirming your identity (passport, etc.);
- A copy of your bank card (if you plan to top up your account this way);
- A copy of a document confirming the merchant’s residential address.
When registering a personal account and trading account, it is important to indicate data that corresponds to those available in the documents required for verification, so that there are no discrepancies.
Some traders are so reluctant to reveal their identity to a broker that they are willing to provide the documents of their friends or relatives. This is a big mistake. In trading as in business, everything should be built on trust. Such a deception will sooner or later be revealed, and the client’s reputation will be tarnished.
Such a frivolous attitude towards verification can have unpleasant consequences for the trader. In the event of a dispute with a broker, he is unlikely to be able to prove that he is right if the deposit is registered in the name of another person. It will be very difficult to prove that this is your account when the documents say otherwise.
These are just a few reasons why you need to take verification very seriously.
Broker requirements and denial of verification
Sometimes a trader may be denied verification. In fact, there is nothing wrong with this. The most common reason is the absence of a particular document, or poor quality copies Problems can also arise if documents are uploaded in the wrong format.
Therefore, carefully read the company’s requirements regarding documents confirming a person’s identity and residential address. If the reason for the refusal is unclear, you need to contact the broker's representatives and clarify the current situation.
A trusting relationship with a broker is simply necessary for long-term cooperation. You, as a client, have the right to demand documents confirming the reliability of the company, and the broker, in turn, has the right to make sure that you are who you say you are.
Your relationship will be transparent if both parties fulfill the legitimate demands of their colleague/partner. You can deposit and withdraw funds without fear, and be sure that any misunderstandings will always be resolved.
Thus, verification is an important part trader's workflow. Any big company, whose work is controlled by the relevant regulator, will definitely ask its client to verify his account by confirming his personal data.
Today we’ll talk about such an unpleasant procedure as verifying an account with a broker.
Ask why unpleasant?
I answer... Because verification implies certain actions on your part, often stressful and, what’s most unpleasant, absolutely useless for you.
The only one who receives the benefit, I would even say double, is the broker. But I’ll tell you about this as the article progresses, but for now let’s deal with everything in order.
Account verification- this is a procedure for transferring a package of documents to a broker in order for the latter to verify the accuracy of the data you specified during registration. Foreign brokers may also require a document confirming the legal origin of funds.
The need for verification, initially, was not a whim of the broker, but was a measure to counter the laundering of proceeds from crime. That is, the main message came precisely from international organizations, such as the FATF, or from the regulator of brokerage activities.
I would like to draw your attention to the fact that, according to the requirements of Western regulators, the client does not have the right to top up his account or trade until the verification procedure is completed completely. This is where the preventive nature of this procedure can be seen.
Now, as for verification with “our” brokers...
How CIS brokers see the verification process
I will not delve into the legal component, since I myself am not sufficiently competent in this issue, however, I can assume that the procedure for collecting and storing personal data by a non-resident (offshore company) is unlawful.
Using the example of Russia. Most dealers never received a license to carry out brokerage activities. That is, on the territory of Russia they are illegal, and, according to new amendments to the law on the processing and storage of personal data, the databases themselves, if they concern the population of the Russian Federation, must be located locally on the territory of Russia.
This begs the question: if a broker is illegal, then how can he store data in the country? But there’s no way... Brokers ignore these norms, hiding behind their offshore nature. Accordingly, it is not difficult to guess that the verification requirements are also unauthorized.
I can say with confidence that most CIS brokers carry out verification for completely different purposes than originally intended. I'll try to explain.
We have already determined that main verification goals:
- Prevent the possibility of money laundering;
- Make sure that it is you who opened the account and not someone else.
Despite the fact that both points look expedient, “our” brokers, as always, managed to turn everything upside down.
The first thing worth paying attention to is that CIS brokers do not check the legality of funds, given that this is practically key moment verification. None of the brokers asked me for documents confirming the legal origin of the funds.
All this suggests that the broker does not care where you got the money from, even if it was obtained through criminal means, the main thing is that you top up your account.
The second point is the need for verification, exclusively for withdrawing money. That is, you can top up your account with any amount, but you can withdraw (usually when topping up $1000 or more) only after verifying your account. It turns out that until the moment when you want to withdraw your money, the broker does not care who replenished the account and why.
And if the first can be attributed to the mentality that our people do not like to show off their income certificate, then the second is no longer an option...
One gets the impression that they do not disdain any money and only at the moment the client withdraws money they “turn on” a bona fide broker and require confirmation.
By the way, the verification procedure for a binary broker is usually no different from the verification procedure for a Forex broker.
Why is verification really needed?
If the basic objectives of verification are not met, then what is the point of it?
It's simple. Brokers have turned verification into a tool for manipulation and delaying time. The longer the money is in the account, the more likely it is that the trader will get involved in trading and no longer want to withdraw, or simply lose his funds during trading.
It looks especially funny when your money is in their account, and, under the guise of verification, they force you to complete various “quests”... Go to a notary, take a photo with your passport, send documents by mail, etc.
And if you begin to object to this outrage, they will simply thrust the following formulation under your nose: “ At any time, the Company has the right, at its discretion, to require documents from the client (a list thatdrawn up solely by the Company, including the form of documents to be provided)...".I copied this clause from a real contract with a company, which you usually sign when opening an account.
It is useless to try to challenge the list of required documents, because on the other side there is an employee who performs the specified actions, and, in most cases, he will simply be too lazy to go to the boss and find out whether something can be changed for the client. In fact, they may even require you to provide a real estate purchase and sale agreement, etc. Of course, in practice this will not be required, but the point does sound intimidating.
Dear brokers, play fairly, put forward your demands before a person deposits money into the account.
And the saddest thing about all this is that now there are practically no brokers left that do not require verification. Therefore, if we want to trade with a broker we like, we still have to send documents...
But you shouldn’t rush to fulfill all the requirements. Sometimes companies require too much, so you should know which documents can be sent and which cannot.
Here standard list of documents that an offshore broker may ask for:
- Copies of passport pages;
- A copy of the utility bill;
- Statement from the bank.
If they require some notarized documents from you, then this is a banal delay. The fact is that in some countries, for example in Ukraine, the notary is responsible for the document certified by him. And if you try to come to him with a “piece of paper” that the broker provided to you, then, most likely, they will not sign it for you, citing the dubious origin of the document and the absence of a second party to whom this application/agreement/whatever is addressed.
We are talking specifically about offshore brokers, because... the vast majority of traders use their services. There is also banking forex, but this is a separate topic.
How to protect documents from reuse
Another problem that I wanted to highlight is the safety and confidentiality of documents sent for verification.
There are valid concerns that your documents may be copied and used for dishonest purposes.
It should be understood that document verification is carried out by ordinary company employees who will not find it difficult to make copies of your documents.
Personally, I don’t want anyone to register in any online casino under my name.
Since there is no escape from verification, “To live with wolves is to howl like a wolf.” Then how to protect yourself...?
To date, the most simple method Protecting documents on the Internet is to apply translucent text over photographs, so-called watermarks.
The text should be something like this: “Copies are valid only for registration with the Horns & Hooves company.” In general, the essence of a watermark comes down to the impossibility reuse document.
It looks something like this:
The text should be superimposed on important areas of the photo so that it cannot be removed in a graphics editor.
I usually add a watermark in Photoshop, but if you don't have... graphic editors, you can use special service: http://watermark.rf.
Processing example:
After such processing, documents can be sent for verification. And, in principle, you can be more or less calm that your documents will not appear in some database sold for $50 on a pirate site.
As practice shows, most companies accept such documents without any questions.
Although recently I had a case...
How I fought with a broker
One of the brokers, excuse the expression, “forgot” and refused to accept the documents, referring first to the regulator, and then to some of their internal policies.
The main reason for the refusal was that the documents were edited (a watermark was applied).
Well, I think you can’t edit in Photoshop, then let’s go the other way. I take a transparent film and print a protective inscription on it. I put the film on the document, take a photograph and send the original photograph without processing for verification.
Again a refusal... This time internal policies stated that the photograph should be without third-party objects.
In short, I got tired of it, and I decided to teach them a lesson. You see, they fight document falsification using such methods...
I download some random documents from the Internet, bring them into the state of a single full name and, as an experiment, put on them the inscription: “check for lice.” I send the entire package for verification.
And voila: “You have successfully completed the verification procedure.”
Accordingly, it is not clear who they are fighting with such methods. They did not recognize the fake photograph, but they rejected the original with the security mark.
Well, I later published all this to them on the forum, hinting that they were suffering from bullshit. Then one of their managers called me and tried to explain something, but I never received an intelligible answer as to why they demand the original and who dictated these requirements to them.
But I realized that “our” brokers do not value the client’s safety and his requests/wishes. What can we say about concessions in favor of the client...
I will not name the broker, thereby trying to harm his reputation, I am above this, and let them be ashamed that they made a fool of themselves.
1. Go through verification before replenishing your account. Don't become a hostage to your own money;
2. Check the list of documents required for verification. They may demand too much;
3. Apply security watermarks to all copies of documents;
4. Register with well-known and trusted brokers. Because they value their reputation and you have a better chance of protecting your rights.
That's probably all for today. Be carefull.
18/07/2016
What is verification?
In this mini article we’ll talk about verification, in particular personal accounts from different Forex brokers. The article will be useful for beginners who are starting to get acquainted with investing.
Consider the following:
– What is verification?
- Why is it needed?
– How to verify your profile?
Verification in simple words?
For those unfamiliar with the concept, I’ll decipher it. Verification is confirmation of identity. It can be implemented by providing documents to the verifying party, or during a personal meeting. In the field of investing, this procedure is mandatory in almost all investment instruments.
Why do you need to verify your identity?
In all broker reviews, I strongly recommend that you verify your profile before depositing funds. By verifying your profile, you will avoid problems with withdrawing money to your card or bank account. The main purpose of identity verification is, first and foremost, the safety of both parties.
How to verify your profile?
With all brokers, in most cases, it is enough to upload documents (scans) in your personal account.
Typically this is:
- passport, driver's license;
- Additionally, a certificate from the bank (about opening a current account) may be required;
- or a paid utility bill (as proof of your residential address);
The verification process takes 1-3 days, after which you will receive a notification by email, or you will see a mark in your personal account that the profile has been verified.
I’ll give you a couple of screenshots of personal accounts that have passed verification.
