As recently as a year ago, an Ahmedabad gang was busted by the police for issuing fake SSC and HSC hall tickets. Students bought a ticket for a sum of Rs.3000/-
The gang would scan an original hall ticket, and print it (in color) along with the dummy candidate’s photo, recreating the school seal and principal’s sign over the fake proof.
Fraudulent crimes are growing at an alarming rate globally even as governments, institutions, and media work to reduce them.
So rampant are the transgressions that the global fraud detection and prevention market size is being projected to touch USD 45800 million by 2027 – up from USD 16390 million in 2020, at a CAGR of 15.3% for the forecast period 2021-22.
The Education Sector is a victim
In the last ten to 15 years educational fraud involving the production of fake degrees and diplomas has become a worldwide menace.
The reason why these scams are flourishing is that academic qualifications have acquired commercial value, as they can be used for safe immigration, employment access, and as a ” legitimate bargaining tool for getting a better pay package or greater professional recognition.
India has one of the largest education systems globally with around 1,000 universities and 40,000 colleges in the country.
At the same time, India’s online education market is projected to grow by US$ 2.28 billion from 2021 to 2025, at a CAGR of almost 20%. In 2021, this market in India grew by 19.02%.
Meanwhile, the Indian ed-tech market size is expected to reach US$ 30 billion by 2031, up from US$ 700-800 million in 2021.
As education goes digital, and the issuance of credentials too, revolutionary digital credential issuance technology is expected to experience growth as universities and educational institutions will put behind traditional ways of operating to take advantage of the advancement that technology has to offer
The writing on the wall is loud and clear. Universities and educational institutes that fail to adapt to technology will bear the brunt of lagging behind technologically, economically, psychologically and socially. Some will face situations of huge economic loss as well.
Frauds in the education sector
So, in the education sector degree fraud happens in a number of ways. You have diploma/ degree mills that have created fake diplomas/degrees online and sell them for a price. Individuals too are creating spoofed certificates and there exists fake institutions whose only business is to offer certificates under names similar to existing accredited universities.
The latest stats on the extent of resume fraud reveal that at least one in three job applications has some sort of misrepresentation.
A reference checking company, in 2020, also revealed some figures on forgery after assessing 400 applications across six months
- 40% of applicants claimed a degree from a renowned university when they fell short of a few credits.
- 39% faked that they studied at a prestigious university.
- 39% claimed a degree from a prestigious university when they had taken only one class.
- 33% highlighted achievements and certifications they hadn’t earned.
So, without proper investigation into a presented credential, instances of credential fraud can slip under the radar.
The pitfalls of fake qualifications
As Warren Buffet said, “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
Fake qualifications will damage a university’s brand among other academic institutions and companies. The false applicants who have managed to get an entry in the organizations. will in all likelihood perform below par, and future applications from that university may be disadvantaged by the connection.
When false credentials are discovered, it endangers the university’s selection criteria data and policy, as it damages the validity of using prior academic records as a predictor of success. Apart from this it is an injustice to those students who have rightfully earned their results after putting in long hours or taking student loans.
When employers fall prey to hiring those with false qualifications the consequences can be very damaging: costly exposure to legal action, staff leaving, revenue loss, and brand damage.
Remember, how in 2012, it was discovered that Scott Thompson, the then CEO of Yahoo, had not earned the computer science degree he claimed but had a degree in accounting? How Herbalife’s CEO, Gregory Probert, was made to resign in 2008 after it emerged that he did not have the MBA?
The TruScholar Advantage
TruScholar’s blockchain powered digital certificate issuance platform provides you Z level like protection, ensuring your institute’s documents are well protected from any harm
As Amol Patil, Co-founder of Let’s Unbound Education Technology, said, “TruScholar’s digital certification has indeed enhanced the certificate issuing process at Lets Unbound. In addition, it has also played a crucial role in ensuring the authentication of certificates issued …”
What does TruScholar offer?
With its advanced blockchain powered digital certificate issuance platform , TruScholar’s digital credential issuance platform offers institutes 100 percent security & safety, impenetrable, by the most intense criminal min
- 100% safe.
- 100% secure.
- 100% hacker-free.
And there is more:
- An in-built mechanism to easily design and customize your certificates.
- An In-built mechanism for students to share certificates in a jiffy which will increase your social media visibility & build your brand reputation.
- A QR-coded verification mechanism for students to get their credentials instantly verified by employers or universities.
- An e-credential wallet for every student.
- Easy integration with DigiLocker,a flagship initiative of the Ministry of Electronics & IT (MeitY) under the Digital India programme.
By getting on the TruScholar blockchain powered digital certificate issuance platform platform you will gain all the technological advantages of issuing digital certificates to your students
Frauds will no longer be something to worry about as TruScholar’s technology ensures your reputation is hundred percent protected and your students are positioned for a brighter future.
Book a demo of the product, now!