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| New Bidder Authorization |
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- What is Identity Verification?
- How does the system work?
- Why does Identity Verification ask personal questions?
- Is the information I provide secure?
- I need to update the information I entered when I registered with Bid4Assets. Will I need to go through Identity Verification again?
- What happens if I do not pass the online Identity Verification process?
- What should I do if I believe that all the information I provided was correct, yet my application was rejected?
- I live outside of the U.S. Can I still bid on Bid4Assets?
What is Identity Verification?
RSA Identity Verification from Verid is a Knowledge Based Authentication (KBA) that provides real-time confirmation of customer identities. RSA Identity Verification is an interactive solution that presents a series of top of mind questions utilizing relevant facts on the individual obtained by scanning billions of public records.
Why is Bid4Assets requiring Identity Verification?
Bid4Assets is committed to providing a secure environment for all of our customers. Bidder ID Verify significantly decreases Internet fraud and our sellers are assured they are doing business with buyers who are who they say they are.
How does the system work?
Verid uses data aggregators to query more than 1,000 databases, such as state motor-vehicle departments and marriage records. Verid's KBA technology presents consumers with a series of personalized questions based on deep background data derived from a variety of these public information sources. The technology conducts sophisticated analytics to build a comprehensive knowledge profile and guides the consumer through an intuitive and interactive process until identity is confirmed.
Why does Identity Verification ask personal questions?
"Out of wallet" identity verification is the only way we can ensure bidders are who they say they are.
Is the information I provide secure?
Absolutely. Bid4Assets' secure 128bit encryption technology ensures the safety of the information provided. Bid4Assets does not share any data with third parties and ensures that unauthorized parties cannot gain access to the data. Bid4Assets also does not store the questions and answers from the verification process.
I need to update the information I entered when I registered with Bid4Assets. Will I need to go through Identity Verification again?
No. You make changes to the information you provided during registration in My B4A through the My Profile link located on the left navigation bar. When you try to access My B4A, you will be prompted to login and then will be able to review and change any information you provided during registration.
What determines a pass/fail rating on the Identity Verification system?
Based on the number of correct answers you give, Verid assigns a score to your application. Authorized bidders must score a 90 or above and have no flags for suspicious activity in the past to receive a "passing" rating.
What happens if I do not pass the online Identity Verification process?
If you do not score a 90 or above on the rating scale and/or your registration triggers an alert, your online bid will be rejected. If this happens, you will need to complete the following Offline ID Verification Form. After you complete the form, you will need to either fax it to us at 301.650.9194 or scan the completed document and email it to IDVerify@Bid4Assets.com. For additional information, email us at service@bid4assets.com
I live outside of the U.S. Can I still bid on Bid4Assets?
Because Identification Verification requires interested bidders to enter a valid U.S. public record information database, non-U.S. citizens are not able to bid on auctions on Bid4Assets with one exception. If an auction requires a deposit before bidding, ID Verification is not required. If a non-U.S. citizen registers on Bid4Assets and makes a deposit through a U.S. bank account, then they may bid on that auction. All deposits and transactions must be made in U.S. dollars.
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