The Importance of Account Authentication

Accounts Account Verification
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Greetings Deriv Community members :wink:

Account verification helps businesses verify the validity and ownership of clients’ details. This can be done due to regulatory requirements, to avoid errors or fraud.

An ID check ensures that there is a real person behind a process and proves that they are who they claim to be. This prevents anyone from carrying out a process on other people’s behalf without authorisation, creating false identities, or committing fraud.

Below are some of the importance of account authentication:

  1. Avoid costly fines
  2. Improve the company’s reputation
  3. Safeguard the security and privacy of data
  4. Avoid any possible fraud

Hope the above information is useful for everyone.

If you have any further queries, please do not hesitate to contact our Live Chat support for assistance.

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Hi
I am finding it difficult to upload my proof of address, everytime i click, it says my proof of address uploaded successfully, but i can’t take trades anymore. It doesn’t give me option to upload please help me on that…

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I tried live chat but i only chat with bot and it doesn’t help me at all

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Hello, @cassone-abusion-2. Thank you for joining the community! We regret to note that. Kindly reach out to us via LiveChat, for better assistance and protection of your account’s data. We’ll work with you to resolve any issues as quickly as possible.

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I have been trying to process my prove of address but it has failed and it gives me difficulties cause I can’t trade I can’t do anything because of varification, when I try to upload it says my account doesn’t need to be authenticated

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Hello, @awnings-acetate-2. Thank you for joining the community! We regret to note that. Kindly reach out to us via LiveChat, for better assistance and protection of your account’s data. We’ll work with you to resolve any issues as quickly as possible.

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Your system has reset my verified documents. My account is 3 years old. Why are you asking me to verify my account when my old documents are still accurate e.g residential address has not changed.

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Hi, @arrivas-acquiet-2. Thank you for joining the community! We regret to note this. We recommend you to refer our support for further checks. Our Customer Support is available 24/7, kindly reach out to us via LiveChat, for better assistance and protection of your account’s data. We’ll work with you to resolve any issues as quickly as possible.

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Hi, Farahin_Deriv,
Please advise me why do I need to re-verify my account since I was already with (Binary.com i.e. prior to Deriv existence) for more than 5 years and had already been depositing as well as withdrawing fund many times without any issue at all.

Despite that I did try to re-verify my Account somehow, the response was verification failed due to my name is not matching with the name as recorded in Deriv Database.

For your info, I did not change my name eversince I registered with your firm. I also had used the same National Document (only than it is updated due to date expiry) but my name is exactly as it was/is.

Can I mention this here so that I can explain much better. In a nutshell, my name as written in my National Identity is truly long and complete. As a result, I used part of my name, in an officially acceptable abbreviation, somehow now your system can not cope with it. As (I noticed) it is purely robotic (but with limited ability to understand what I am talking about). I did try to talk about this via the livechat, but it is just like talking to the wall. I hope you are truly human when I am talking about this to you now with truly having human common sense.

In the old days, Binary official will be talking to me via phone for verification and easier for me to explain what is what humanly.

So, if you could do something to rectify the Robot or at least provide some option in the robotic agent for us to ask for human being to talk with when issue is becoming outside the robotic capacity to understand or something else.

Thanks in anticipation and I will refund my account if this is resolved. FYI, I have just withdrawn all of my funds from all of my existing accounts with your firm and I already received those funds in my designated account today, (Note this withdrawal process was approved from your as per your normal practice).

So, why do I need to re-verify my account and also please teach your robotic agent to cover this issue as well.

Once again, many thanks for providing this platform which I hope we still can talk humanly.

Best Regards,

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Dear @actuary-abbotcy-2. Thank you for joining our community. We regret to hear about the inconvenience you have experienced verifying your account with us and we apologize for that. Due to data protection for your account’s data, we recommend you contact our Live Chat or WhatsApp support to assist you further with the issue raised. Rest assured, our support team will definitely help to resolve your issue. Thank you.

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Dear Farahin_Deriv,
Okay and thank you for your reply. I really appreciate it.
Just for your knowledge, my Name as registered nationally is very long name. When I applied for Debt/Credit Card, their typical system can not handle my very long name, as a result my Name needs to be abbreviated with HAJI to “H” and ABDUL to “A” and the term Bin which means “Son Of” was also omitted. This practice is common in my country/region as well as worldwide. Therefore, when I registered with Binary.com in the old days, my initial funding was with my card as such I need to register my name as spelt out on my Card. That’s how it is as per your database. As a result, if the assessment of the verification is purely using Algorithm and no involvement of Human, then this kind of assessment would not be recognized by the algorithm unless it has been taken into account of this situation.

Once again many thanks for your reply and good understanding.

Best Regards,
Kadir

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I was prompted to verify my account which I initiated and my proof of identity has been verified but for my proof of address once I upload my account statement it shows “Your address cannot be changed”. Please how can this be resolved?

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Hello @brechan-acyclic-2, thank you for joining the community! We regret to note this. Our Customer Support is available 24/7, kindly reach out to us via LiveChat, for better assistance and protection of your account’s data. We’ll work with you to resolve any issues as quickly as possible. Thank you.