A business has to have documents that look official, provide accurate information, and can be scanned for verification. The editing and proofreading part of preparing a document is important. Numerous documents can be deemed labeled business documents and they help you maintain a wide range of communication internally and externally. If you’re trying to do business with a company, then you should have a variety of fraud that can follow. Fraudsters usually try to mimic documents to trick organizations out of their money. Businesses or individuals need to verify business documents and look for red flags.
A business can follow 2 major methods to verify business documents. With improved technologies, it is easy for fraudsters to forge business documents and verify if a business is not trying to trick people. There two main methods of verifying business documents are manually and automatically.
The manual business document verification process refers to the manual verification of business documents by cross verification of data in the documents. Manual verification is a time-consuming process and a business has to hire a team of document experts. While the manual process leaves a lot of room for error, it is used by thousands of businesses around the globe. With the right technology, it is easy for fraudsters to doctor documents that look almost perfect to the naked eye.
As the name suggests, automatic business document verification uses automation for the verification of business documents. Several technologies offer automatic verification of documents, technologies like DIRO offers instant verification of documents to verify if a business is a fraud or not. Different technologies offer different levels of security and seamlessness for business document verification.
Let’s say that you’ve done business with a particular entity before, it is easy to verify the style or tone of the document with previously acquired documents. Regardless of the tone, verify if the sentences are short and written in an active voice to target the intended audience. Compare the tone and writing styles of the documents to ensure that the company voice is consistent.
Fraudsters don’t usually care about if the information provided on the documents is correct or not. Your team should check to see if the documents use headlines, subheadings, bullet points, or something distinct in their documents. A business usually follows the same tone and format of the document. As a business, you should verify the document format to look for tiny inconsistencies.
A good business will not make common grammatical & spelling mistakes. This is one case where manually going through the documents is a good idea. Go through the sentences and paragraph carefully to find errors. Commonly misspelled or misused documents can be used to verify if the documents are coming from the real business and not some fraudsters trying to trick you.
Another method of verifying if the document is real or not is by running an eye over the document and looking for red flags in the document format. Incorrect margins, justification, wrong text placement, and illustrations are all red flags as businesses don’t make these mistakes.
If the document contains graphs or charts, make sure they don’t overwhelm the text. You should also verify if the illustrations are formatted properly. If the documents include company logos, make sure it keeps up with business standards.
Checking document facts and data is an essential part of business document verification. You should ask for references if you need to verify business documents. Accurate information provided in business documents is essential to a business’s integrity. Based on the nature of the document and the type of company, you may want a business document and the accuracy of the data.
Once you’ve gone through every part of the document, all you have to do is to verify the document all over again. Look closely for red flags and any visible mistakes. Your team should verify documents over and over again for finding out any leftover errors. Even the smallest mistake can prove that it is fraudsters who are trying to trick the business instead of business entities.
DIRO’s online document verification software verifies documents instantly and provides 100% proof of authentication. Using DIRO, businesses of all scales can easily verify business documents for eliminating the risk of fraud. The technology can verify over 7000+ documents globally including UBO (Ultimate Beneficial Owner) documents. DIRO provides an online verified document with a digital hash, and the result is a document that is court-admissible.