Regula held an internal panel discussion and compiled nine expert opinion-based identity verification trends to watch and leverage in 2023. You can find the full text in our blog: https://regulaforensics.com/blog/identity-verification-trends-2023/
How AI is impacting digital identity security.pdfVLink Inc
AI is revolutionizing digital identity security by enhancing authentication methods, detecting anomalies, and preventing fraud with its ability to analyze vast data sets and recognize patterns accurately.
Website : https://vlinkinc-my.sharepoint.com/:w:/g/personal/vipul_bhardwaj_vlinkinfo_com/EaQPA2UFPuxKomhOXisVC40Bmj4Jvbu6Zx5XRvmCfNJMSQ?e=cjJXCt
Why is cyber security a disruption in the digital economyMark Albala
As we enter the digital economy, companies will quickly realize that the differentiator in the digital economy is information and information being a valuable resource is subject to theft, hacking, phishing and a host of other issues which compromise a company’s ability to participate in the digital economy. Cybersecurity misfires compromise the trust of buyers and partners necessary to participate in the digital economy. It is up to every company to ensure that the information shared with them is protected to the best of their ability and proactively notify persons and organizations who entrust their information necessary to transact business (any personal identity information including but not limited to addresses, credit card information, social security numbers, account information, credit information, medical records, etc.) with any potential compromises which can yield harm to them by that information either being used maliciously or shared with others.
The digital economy is different than other versions of commerce because in the digital economy, information is the lifeblood of digital commerce that passes through the hands of many platforms involved in a digital event. Each of these platforms are an opportunity to wreak havoc on your well-intended but incomplete intents to protect the information contained within the network you control. In the digital economy, it is not only the network you control, but the platforms that touch the personal data entrusted to you as a means of enabling digital commerce, and several techniques have begun to emerge to protect personal information contained within your information domain and the domain of platforms participating in digital commerce.
Because the life blood of the digital economy is information, information hacked in the digital economy is akin to shrinkage in the legacy economy. Both are means to directly attack your bottom line, whether it is redirecting customers elsewhere because they don’t trust your privacy program, ransomware which makes your site or one of your partner platform sites dangerous to use or some other reason which challenges your ability to participate in the digital economy. Shrinking the potential market share because of information safety and security challenges is a disruption, making cyber-security a disruptive activity, particularly if it is not dealt with swiftly.
If your cyber-security program is focused entirely on protecting the information housed in your four walls, you have exposed yourself to problems you will have difficulty in identifying both the source and the entry point of these issues.
Cartesian assesses the current state of identity management, and outlines the opportunity for trusted service providers such as MNOs, financial institutions and governments to act as “digital identity authorities”.
Company names mentioned herein are the property of, and may be trademarks of, their respective owners and are for educational purposes only.
17 U.S. Code § 107 - Limitations on exclusive rights: Fair use Notwithstanding the provisions of sections 106 and 106A, the fair use of a copyrighted work, including such use by reproduction in copies or phonorecords or by any other means specified by that section, for purposes such as criticism, comment, news reporting, teaching (including multiple copies for classroom use), scholarship, or research, is not an infringement of copyright.
Online Transaction Fraud Detection using Hidden Markov Model & Behavior AnalysisCSCJournals
Card payment are mostly preferred by many for transactions instead of cash. Due to its convenience, it is the most accepted payment method for offline as well as online purchases, irrespective of region or country the purchase is made. Currently, cards are used for everyday activities, such as online shopping, bill pays, subscriptions, etc. Consequently, there are more chances of fraudulent transactions. Online transactions are the prime target as it does not require real card, only card details are enough and can be stored digitally. The current system detects the fraud transaction after the transaction is completed. Proposed system in this paper, uses Hidden Markov Model (HMM), which is one of the statistical stochastic models used to model randomly changing systems. Using Hidden Markov Model, a fraud transaction can be detected during the time of transaction itself and after 3 attempts of verification card can blocked at the same time. Behavior Analysis (BA) helps to understand the spending habits of cardholder. Hidden Markov Model helps to acquire high-level fraud analysis with a low false alarm ratio.
Ways To Protect Your Company From Cybercrimethinkwithniche
The Federal Bureau of Investigation FBI saw a 217 percent increase in Cybercrime Reporting between 2008 and 2021. Last year, losses reached almost $7 billion. This is due to a highly skilled cyber-threat supply network that empowers threat actors with limited know-how and limited resources to put at risk personal, economic, and national security.
Future of digital identity initial perspective - final lrFuture Agenda
Our interconnected digital world has started to make a mockery of traditional forms of identification. Being asked to produce ‘two forms of ID; at least one from each of the two following lists’ already seems hopelessly anachronistic in a world of automated password-managers, RFID-driven payments systems, and bio-metric authenticators on our mobile phones. The idea of having a single digital identity (Digital ID) that can replace the need to hold a plethora of cards and documents, from your passport and driving license to your library card and even your CV, is not only one whose time has come, it is one that is all but presumed to exist already. Although it doesn’t quite yet.
This ‘initial perspective’ is intended to provide a provocation for thinking and deeper discussion about the impending implementation, and future, of Digital Identity and its role and value in society.
In addition, we are also undertaking a set of 5 expert workshops across 4 continents in Q4 2018 (London, Singapore, Sydney, San Francisco and Brussels). If you are interested in joining, we would welcome your feedback and contribution to help build a richer view. Do let us know.
BLOG.wedotechnologies.com a is space for sharing knowledge and experiences about Enterprise Business Assurance with voluntary contributions from WeDo Technologies' staff, our customers and special guests.
Read a selections of the best articles published on BLOG.wedotechnologies.com in 2014.
Enjoy it!
The Protected Harbor 2022 Legal Services Data Breach Trend Report (2).pdfProtected Harbor
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Buy Verified PayPal Account | Buy Google 5 Star Reviewsusawebmarket
Buy Verified PayPal Account
Looking to buy verified PayPal accounts? Discover 7 expert tips for safely purchasing a verified PayPal account in 2024. Ensure security and reliability for your transactions.
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usawebmarketEmail: support@usawebmarket.com
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Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
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How AI is impacting digital identity security.pdfVLink Inc
AI is revolutionizing digital identity security by enhancing authentication methods, detecting anomalies, and preventing fraud with its ability to analyze vast data sets and recognize patterns accurately.
Website : https://vlinkinc-my.sharepoint.com/:w:/g/personal/vipul_bhardwaj_vlinkinfo_com/EaQPA2UFPuxKomhOXisVC40Bmj4Jvbu6Zx5XRvmCfNJMSQ?e=cjJXCt
Why is cyber security a disruption in the digital economyMark Albala
As we enter the digital economy, companies will quickly realize that the differentiator in the digital economy is information and information being a valuable resource is subject to theft, hacking, phishing and a host of other issues which compromise a company’s ability to participate in the digital economy. Cybersecurity misfires compromise the trust of buyers and partners necessary to participate in the digital economy. It is up to every company to ensure that the information shared with them is protected to the best of their ability and proactively notify persons and organizations who entrust their information necessary to transact business (any personal identity information including but not limited to addresses, credit card information, social security numbers, account information, credit information, medical records, etc.) with any potential compromises which can yield harm to them by that information either being used maliciously or shared with others.
The digital economy is different than other versions of commerce because in the digital economy, information is the lifeblood of digital commerce that passes through the hands of many platforms involved in a digital event. Each of these platforms are an opportunity to wreak havoc on your well-intended but incomplete intents to protect the information contained within the network you control. In the digital economy, it is not only the network you control, but the platforms that touch the personal data entrusted to you as a means of enabling digital commerce, and several techniques have begun to emerge to protect personal information contained within your information domain and the domain of platforms participating in digital commerce.
Because the life blood of the digital economy is information, information hacked in the digital economy is akin to shrinkage in the legacy economy. Both are means to directly attack your bottom line, whether it is redirecting customers elsewhere because they don’t trust your privacy program, ransomware which makes your site or one of your partner platform sites dangerous to use or some other reason which challenges your ability to participate in the digital economy. Shrinking the potential market share because of information safety and security challenges is a disruption, making cyber-security a disruptive activity, particularly if it is not dealt with swiftly.
If your cyber-security program is focused entirely on protecting the information housed in your four walls, you have exposed yourself to problems you will have difficulty in identifying both the source and the entry point of these issues.
Cartesian assesses the current state of identity management, and outlines the opportunity for trusted service providers such as MNOs, financial institutions and governments to act as “digital identity authorities”.
Company names mentioned herein are the property of, and may be trademarks of, their respective owners and are for educational purposes only.
17 U.S. Code § 107 - Limitations on exclusive rights: Fair use Notwithstanding the provisions of sections 106 and 106A, the fair use of a copyrighted work, including such use by reproduction in copies or phonorecords or by any other means specified by that section, for purposes such as criticism, comment, news reporting, teaching (including multiple copies for classroom use), scholarship, or research, is not an infringement of copyright.
Online Transaction Fraud Detection using Hidden Markov Model & Behavior AnalysisCSCJournals
Card payment are mostly preferred by many for transactions instead of cash. Due to its convenience, it is the most accepted payment method for offline as well as online purchases, irrespective of region or country the purchase is made. Currently, cards are used for everyday activities, such as online shopping, bill pays, subscriptions, etc. Consequently, there are more chances of fraudulent transactions. Online transactions are the prime target as it does not require real card, only card details are enough and can be stored digitally. The current system detects the fraud transaction after the transaction is completed. Proposed system in this paper, uses Hidden Markov Model (HMM), which is one of the statistical stochastic models used to model randomly changing systems. Using Hidden Markov Model, a fraud transaction can be detected during the time of transaction itself and after 3 attempts of verification card can blocked at the same time. Behavior Analysis (BA) helps to understand the spending habits of cardholder. Hidden Markov Model helps to acquire high-level fraud analysis with a low false alarm ratio.
Ways To Protect Your Company From Cybercrimethinkwithniche
The Federal Bureau of Investigation FBI saw a 217 percent increase in Cybercrime Reporting between 2008 and 2021. Last year, losses reached almost $7 billion. This is due to a highly skilled cyber-threat supply network that empowers threat actors with limited know-how and limited resources to put at risk personal, economic, and national security.
Future of digital identity initial perspective - final lrFuture Agenda
Our interconnected digital world has started to make a mockery of traditional forms of identification. Being asked to produce ‘two forms of ID; at least one from each of the two following lists’ already seems hopelessly anachronistic in a world of automated password-managers, RFID-driven payments systems, and bio-metric authenticators on our mobile phones. The idea of having a single digital identity (Digital ID) that can replace the need to hold a plethora of cards and documents, from your passport and driving license to your library card and even your CV, is not only one whose time has come, it is one that is all but presumed to exist already. Although it doesn’t quite yet.
This ‘initial perspective’ is intended to provide a provocation for thinking and deeper discussion about the impending implementation, and future, of Digital Identity and its role and value in society.
In addition, we are also undertaking a set of 5 expert workshops across 4 continents in Q4 2018 (London, Singapore, Sydney, San Francisco and Brussels). If you are interested in joining, we would welcome your feedback and contribution to help build a richer view. Do let us know.
BLOG.wedotechnologies.com a is space for sharing knowledge and experiences about Enterprise Business Assurance with voluntary contributions from WeDo Technologies' staff, our customers and special guests.
Read a selections of the best articles published on BLOG.wedotechnologies.com in 2014.
Enjoy it!
The Protected Harbor 2022 Legal Services Data Breach Trend Report (2).pdfProtected Harbor
Protected Harbor's 2022 Legal Services Data Breach Trend Report is a comprehensive analysis of the evolving cybersecurity landscape in the legal industry. This report offers valuable insights into emerging trends, challenges, and opportunities that legal professionals and firms may encounter in the year ahead. Through in-depth research and expert analysis, it sheds light on the impact of technological advancements, changing regulations, and client expectations on legal services. Stay ahead of the curve with this indispensable guide to the future of legal services.
Buy Verified PayPal Account | Buy Google 5 Star Reviewsusawebmarket
Buy Verified PayPal Account
Looking to buy verified PayPal accounts? Discover 7 expert tips for safely purchasing a verified PayPal account in 2024. Ensure security and reliability for your transactions.
PayPal Services Features-
🟢 Email Access
🟢 Bank Added
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🟢 Driving License Copy
🟢 Fasted Delivery
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Telegram: @usawebmarket
WhatsApp: +1(218) 203-5951
USA WEB MARKET is the Best Verified PayPal, Payoneer, Cash App, Skrill, Neteller, Stripe Account and SEO, SMM Service provider.100%Satisfection granted.100% replacement Granted.
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2. 01
More steps in the verification process
02
Liveness checks are a must
03
A rise in amateur scam attempts
04
A new take on digital hygiene
05
Development of biometrics-related fraud
06
Growth of the IDV market
07
Multiplication of “single” sources of truth
08
Intro of end-to-end IDV platforms
09
Tightened regulation
Identity verification trends for
2023 at a glance
1
3. More steps in the
verification process
Javelin Strategy and Research reports that in 2022, identity
fraud and scams cost $52 billion and affected over 42 million
people in the US alone. Interesting fact: criminals often prefer to
target consumers directly (over the phone, email, social media,
etc.) as they’re easier targets than businesses. Although it’s end
users who lose money, huge reputational risks will make
companies add new security layers.
2
#1
4. 3
Gone are the days when a single check that verified a single
parameter of a person was enough. The experts agree: there will
be more checks, and they will be more complicated. Nowadays,
you can only trust the results if all the checks match. As a result,
multi-factor authentication, which in addition to verifying IDs
includes biometric checks, SMS, passwords, recent transactions
checks, etc., is gaining even more importance. Such mechanics
won’t only affect already highly regulated segments, such as
government or finance, but will likely appear in areas where they
haven’t been widely used before, e.g., telecoms.
Extra security measures will create challenges not only for IT
teams: many product marketers will also be caught between a
rock and a hard place. Identity verification often happens at the
customer onboarding stage, so every single new step in the
process might result in lower conversion rates. However, it might
not be that bad. We expect to see users tolerate multi-step
identity verification processes which take longer but provide a
higher level of security.
5. Liveness checks are a must
This point is closely related to the previous one. As the number of
tasks that can be accomplished online is growing, we need to have
comprehensive tools to make sure that submitted ID documents
are valid and really exist, with an emphasis on the latter.
As we said above, there will be more identity fraud attempts in the
digital space due to the higher accessibility of technologies.
However, most of them will fail when it comes to the creation of a
physical document. There is huge variability in documents with
their own specifics — there are over 20 variants of driver’s licenses
in California alone — so it’ll take serious expertise (and money) to
make them look genuine. That’s why a comprehensive liveness
check which concludes if there’s a real person or a passive fake—
an image or recording — is a priority. Fortunately, such
technologies exist, but businesses still need to take deliberate
steps to implement them.
4
#2
6. 5
Properly accepting documents online is more
than just asking customers to send an image of
their passports; it requires changes in the
workflow. An ID document contains various
security features: holograms, elements printed
with optical variable inks, and biometric data, to
name a few. Its image has to be taken using
methods so that these elements can be captured
and verified. If a company wants to protect itself
against fraud, they have to take action to
implement those methods.
7. A rise in amateur scam attempts
AI, ML, Quantum Computing, and advanced printing are no longer
technologies that are available only to a selected few. The flipside of
democratization is more ways for bad actors to enhance their fraud attempts
by enabling deepfakes, synthetic identities, and more. Experts say there’s both
good and bad news in this regard.
The bad news is the extra load for IT teams and infrastructure caused by a
wave of scams using these new technologies. More people will believe that
they can cheat the system and more will give it a try, as all sorts of apps for
creating realistic models and simulations are literally two clicks away. The
matter is complicated by the various document templates available for sale on
the web which you can fill in with your details, and they look pretty credible in a
digital space.
On the bright side, there’s a big gap between accessing the technologies and
knowing how they work. Most users have a very vague idea and only see the
result: a believable picture. However, most of the alterations are easily detected
at the very first inspection: for example, finding the original data under the
changed top layer of a PDF document is really easy.
6
#3
8. “From my experience, 90% of fraud is very
basic. It often happens when someone wants
to cheat small, but due to a lack of
knowledge, such attempts are obvious for
experts. Still, there are criminals who do scam
professionally, so it's important to always be
on guard.”
”7
— Ihar Kliashchou,
Chief Technology Officer at Regula
9. A new take on
digital hygiene
Statistically, the more data that is transmitted over the internet,
the greater the chance for it to leak. So it’s a natural consequence
that the amount of data for sale on the black market nowadays is
increasing. One of the latest cases in Australia with the hack of the
nation’s biggest health insurer, Medibank, demonstrates how
vulnerable users are in the face of such attacks. Over nine million
users are on high alert now as cybercriminals have started leaking
stolen sensitive medical information on chronic conditions, such
as heart disease, cancer, mental health conditions, and others.
There’s a paradox: service providers are trying to collect as much
personal data as possible in order to cross-check it through
different channels, but for a consumer, it’d be safer to provide a
minimum of data, as it could potentially be leaked or stolen and
used against them.
8
#4
10. But there are nuances. For example, attackers aren’t so much
interested in stealing and selling a single (albeit important) piece
of information, but in collecting as much different data about one
person as possible: credit card data, passport scan, social
security number, etc. With the growing number of identity checks
and ways to verify a person, such an extensive bundle of stolen
identity information makes this person easier prey for an attack.
There’s a decline oftrust in online services and yet users are
unable to give them up.To address this, consumers will have to
think more about their personal digital hygiene and educate
themselves about digital privacy: know to whom they give their
data, check how it can be used, and how it’ll be protected. We will
see a push from users for more data protection rules, and for
more transparency from service providers. For businesses,
corporate digital hygiene is also essential because it's a
significant part oftheir Digital Immune System, as Gartner calls
it.There will be a need to establish and apply more such
processes.
9
11. ”
“IDs and any other Personal Identifiable
Information (PII) are crucial to the provision of
many services. Having good personal and
corporate hygiene in regard to this data will
contribute to a stronger Digital Immune System.
Just like in human bodies.”
10
— Henry Patishman,
Executive VP, Identity Verification
solutions at Regula
12. Development of more realistic
biometrics-related fraud
Unlike with documents, people’s faces are quite similar in terms of
their structure. What’s more, there’s plenty of data on human faces
collected on the web that can be used for neural network training.
These two factors combined will lead to us witnessing more efforts in
the direction of developing biometric technology and attempts to use
them for fraudulent purposes.
Let's take for example an innocent-looking attraction where a person
gets a 360-degree shot. The person has fun, posts it online, and gets
plenty of likes from friends — all while the organizers get an object for
an attack. With such a high-quality image of a person, it’s easy to build
a 3D model using quite affordable software. This model will move,
open its eyes and mouth, and do whatever else they want. Then there
may be an attempt to pass off this model as a real person, for example,
at a job interview or during various liveness checks. Although there are
effective methods to identify it, we can expect further development
and more attempts to fine-tune this sort of fraud.
11
#5
13. Let’s take deepfakes for instance. There’s a lot of fuss about the
technology that allows you to swap people’s faces in images and
videos. However, deepfakes are a small percentage of threats to a
small percentage of organizations, at least for now. This is to a
large extent because of the cost and the amount of effort needed
to produce them. But it’s very likely that things will be moving
toward and becoming more dangerous, and, sooner or later,
companies will have to add protection against this type of fraud
into their toolkits too.
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14. ”
“Minimal security measures are enough to repel
95% of possible attacks. The remaining 5% is
where the difficulties lie. Now, most deepfakes are
created for free, and they’re of such a quality that
there’s no immediate danger. But that’s a matter of
resources. As soon as fraudsters are ready to spend
significant sums per deepfake, it’s a problem that
requires interactive multi-layered solution.”
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— Ihar Kliashchou,
Chief Technology Officer at Regula
15. Growth of the IDV market
The number of companies providing identity verification solutions
is growing, and there is a simple explanation for that. There are
millions of businesses in the world, and many of them are moving
online. The shift is driven not only by cutting costs but also by
consumers who’ve realized that they can live and work remotely.
Even though this process seems to be fast-paced, there’s enough
work to last for years.
Also, there will be more new local KYC service providers in every
country who are aware of local specifics that provide compliance
with watchlists and local regulations. Although identity
verification is not the main job for such providers, it’s a
prerequisite for their operations, so they’ll need a reliable IDV
solution that ensures maximum coverage and accuracy too.
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16. The additional driver that is yet to gain momentum is
the demand for digital IDs. Some countries, for
example, Belgium, Canada, Singapore, and others,
have started to create their own digital IDs. Some
financial organizations, like the ones using the Czech
Bank identity, have started to do it too.
Given all these reasons, the experts agree that the IDV
market will continue to grow; and, most likely, it hasn't
even started growing exponentially yet. The growth will
be proportional: with the increased number of users,
the number of businesses will increase as well as the
amount of fraud and its variability.
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17. Multiplication of “single”
sources of truth
In the ideal world, most of the issues with fake identities would
disappear if we had a highly secure single source of truth like a
universal digital identity. In reality, this is going to take a
significant amount of time to create and gain broad acceptance
and implementation. What we can see now is that every company
is trying to become this single source of truth.
Some companies are more successful than others. For example,
there are over a billion verified users of Apple devices, so we can
trust operations performed with Apple ID. The same goes for
Facebook and Google, who also have huge bases of verified
users. Similarly, every KYC provider is dreaming of becoming the
“one ring to rule them all.” As a result, there are too many sources
to call any of them single, but this isn’t a challenge for private
businesses alone.
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18. The most reliable source of truth is naturally the government. It
has the most complete database of documents and tax records.
With access to such a database, verifying a person would be a
piece of cake. For example, compare a person with a photo under
a certain ID document/number. If this happens online, then the
only thing to do next would be a liveness check. These two
processes would allow us to exclude paper documents: sending a
request directly to the publisher and verifying if such a person
really exists and looks like that.
Unfortunately, we can hardly expect authorities of different
countries to come to a full agreement to move in the same
direction. So there still will be a huge variety of all sorts of ID
documents with different local security features that need to be
verified. For businesses, gaining access to government databases
is also anywhere from hard to impossible. So tokens in the form
of physical documents will be in use for many years ahead.
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19. Intro of end-to-end IDV
platforms
As for identity verification technologies, they will likely repeat the
path of computer processors: engineers added more and more
GHz to make computers more powerful until they reached the
limit and began to multiply cores. The same goes for IDV.
Several technologies and features have already appeared, and
now they're going to be combined in complex platforms. For
example, there are different biometrics verification technologies:
face, fingerprints, and voice recognition. Now people will expect
them all in one solution in addition to comprehensive document
verification.
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20. ”
“The future lies in Platform as a Service.
There will be more and more vendors who will
aggregate solutions from different developers
into one platform to offer a comprehensive
solution that verifies a person on many
various parameters.”
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— Henry Patishman,
Executive VP, Identity Verification
solutions at Regula
21. Tightened regulation
This trend is hardly new. There are a lot of problems in the world
with personal data leaks, misuse, and different hacks for stealing
personal data to further sell it on the darknet. Currently, there are
already a lot of regulations in terms of personal data: how to deal
with it, and how to protect it. Nevertheless, regulators will likely
continue to tighten the screws in terms of identity verification.
The experts expect the penalties will be larger, and the number of
lawsuits from consumers will increase.
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22. What’s not a trend?
Above, we’ve put together a list of the top trends in
the IDV field for the year to come. Still, there were
more topics on the radar, which, however, haven’t yet
taken off.
One of them is a decentralized identity that excludes
centralized third parties from the equation.
Decentralized identity systems are built on
blockchains that allow users to control their digital
identifiers. Still, with power comes weakness. As no
one controls it centrally, then no one will be
responsible for it in case of any problems. Plus, there
is the matter of trust. Blockchain is strongly
associated in people's minds with crypto, and the FTX
crash that has happened in the last couple of months
has severely undermined people's trust in it. So, the
idea of decentralized identity is going to be held back
for some time.
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23. Final thoughts
If we picture the trends above as a scale, where
convenience for the customer is on one end and
security on the other, the balance is shifting to
the latter. New challenges require well-thought-
out solutions which can’t appear out of the blue
in such an expertise-demanding area as identity
verification.
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