The Trusted Identity Blog

The problem with most plastic forms of government-issued IDs is that they can be forged or digitally manipulated with ease, and counterfeiters can now order high-resolution printing equipment and some basic security inks online. They often change the personalized data of an existing ID document through methods such as scratching, cutting, dissolving or using solvents…

Not all biometrics are the same. Functionally they do the same thing — measure and compare unique physical or behavioral traits — but smart biometrics, which are enhanced by artificial intelligence and machine learning, adapt and evolve with every use. Smart biometrics are the foundational aspects of a broader trend that FindBiometrics calls “Intelligent ID” — a key…

A J.D. Power study released in February 2020 found that the number of new account openings at bank branches now comprises just 55% of all new account openings, down 10 percentage points from just a year ago. The same study found that 31% of new account openings are executed through a bank website or mobile…

Identity theft and account takeover are on the rise, with cyberattacks targeting the financial sector increasing 238% from February to April 2020, according to a VMware Carbon Black report. Now more than ever, as businesses deal with the financial stressors of the global health and economic crisis brought on by COVID-19, there has never been…

Synthetic identity fraud is one the fastest-growing — and hardest-to-detect — forms of identity theft in the U.S., according to the U.S. Federal Trade Commission. Synthetic identity fraud is responsible for up to 20% of credit losses and costs lenders billions each year, according to Auriemma Consulting Group. Synthetic identity fraud is when criminals combine…

New account fraud isn’t new, but it’s fast becoming one of the biggest problems in the digital banking era, costing the financial services industry billions each year. In fact, 48% of all fraud value stems from accounts that are less than a day old (according to RSA Security) and Experian’s 2020 Global Identity and Fraud…

A recent study by the UK National Fraud & Cyber Security Centre reported that coronavirus-related fraud increased by 400% in March, but amidst these dark times, a new generation of heroes has emerged. People across the globe are teaming up virtually and finding ways to help each other overcome the difficulties brought on by the…

Identity proofing has been fundamental to businesses for a very long time to ensure that customers are who they say they are. The concept of identity proofing dates back to prehistoric times when beads were used to communicate wealth, familial lineage and personal identity. Facial tattoos such as those adorned by the Maori of New…

More children are going online, more frequently, via more devices and services, at ever-younger ages. The internet offers huge opportunities for children, but it also poses major risks to minors’ safety, well-being and rights. There is growing evidence of harm to children online, but addressing the risks is complex because the risks are often highly…

We are using technology, specifically our mobile devices, more and more to communicate with friends and colleagues because of the COVID-19 pandemic. Telcos are part of the critical infrastructure that enables this change. However, even if our online activity has grown as well as our use of telecommunications, there are some areas where telcos are…

Accelerating digital transformation and the growing virtual banking market are driving increasing adoption of artificial intelligence (AI) technologies in the financial services sector to streamline operational workflows and better serve a broader set of customers….

The Financial Conduct Authority has announced it is allowing extra time for the rollout of Strong Customer Authentication (SCA) for e-commerce transactions in the UK, and the move is likely to be followed by others across Europe….