Thirdfort Tackles £1.6 Billion UK Property Fraud Risk with iProov Identity Verification Technology

iProov, the world’s leading provider of science-based biometric identity verification solutions, has announced the deployment of iProov Dynamic Liveness within Thirdfort’s client due diligence platform. This integration aims to combat identity fraud in legal and property transactions. Thirdfort supports over 1,500 regulated businesses in the legal and property sectors, helping them navigate a landscape of evolving regulations and increasing fraud risks. The platform combines automated ID verification, anti-money laundering (AML), and Source of Funds checks to protect professionals and their clients from fraudulent activities.

Verifying identity during UK residential property transactions presents significant challenges. The process often involves repetitive checks among multiple parties, including lawyers, estate agents, accountants, and letting agents. This not only causes delays but also increases vulnerability to costly identity fraud. Recent data from the ICAEW (Institute of Chartered Accountants in England and Wales) indicates that identity fraud accounts for over £1.6 billion of the UK’s total £2.3 billion fraud losses.

As the UK market leader, Thirdfort addresses this fragmented compliance process by advancing beyond basic identity proofing. This distinction is crucial when compared to the proposed UK government ID app: while a government ID may verify a person’s identity, it does not—and cannot—perform the complex, legally-mandated risk assessments that firms are responsible for. Thirdfort’s streamlined platform automates the entire workflow, merging high-assurance identity verification with a comprehensive suite of AML checks, including Source of Funds, PEPs & Sanctions, and Know-Your-Business verification. This innovation enables firms to onboard clients in minutes instead of weeks, minimizing risk and eliminating the need for multiple separate solutions.

Jack Bidgood, co-founder and Chief Product Officer of Thirdfort, stated, “Whether buying or renting a home, the process is stressful enough—proving your identity shouldn’t add to it. Our professional platform and consumer app are designed together to eliminate the friction and critical security vulnerabilities inherent in traditional property transaction identity checks. Utilizing iProov’s Dynamic Liveness allows us to deliver the necessary assurance and build trust within the ecosystem. Furthermore, enabling clients to complete these vital ID checks quickly has become a key differentiator in an increasingly competitive marketplace.”

Andrew Bud, founder and CEO of iProov, remarked, “We are in an AI arms race against fraudsters. Like many regions, the UK’s property market is threatened by AI-driven deepfakes and synthetic identities. By employing iProov Dynamic Liveness, Thirdfort establishes a science-based defence that effectively counters these sophisticated attacks, providing its 1,500+ partners and millions of users with both speed and convenience alongside the high-assurance protection they deserve.”