/identity

News and resources on digital identity, trust, biometrics and Secure Customer Authentication.

Discussion
APP fraud is a growing problem for banks
Ketharaman Swaminathan

Ketharaman Swaminathan

  Millions of Brits risking fraud by ignoring Confirmation of Payee warnings TIL that CoP already issues warnings regarding ID of Payee, just that most Payors ignore it.  Suggests that ID doesn't matter too much in curbing APP Scam.
APP fraud is a growing problem for banks
Ketharaman Swaminathan

Ketharaman Swaminathan

  No brainer that your company hawks such a Digital ID solution? Fraud is wrong framing of the problem and ID is wrong solution for the real problem. Zelle, the A2A of USA, makes it crystal clear that, as long as the customer has authorized the payment, it's a Scam and not a Fraud. So, fraud is the wrong framing of the real problem. Maybe in a nod to this, the recent webinar on Finextra on this topic did call it APP Scam. ID matters in the case of Fraud. But, in all the cases of APP Scams that I've come across, what seems to matter is the purpose for which the payee tells me to send the money to her. If the purpose is kosher, I don't need to care about the payee's ID. Like, I buy hundreds of things from Amazon and I don't know the name of a single Amazon employee. OTOH, if the purpose is not kosher, I don't see how it helps to know the payee's ID.  Can you give an example of where your firm's ID solution has been used to prevent an APP Scam (not Fraud)?
TSB overhauls onboarding with Onfido’s biometric facial recognition
Zeeshan Anwar

Zeeshan Anwar

  Here is a good example of what is in the booming China Buying Food with Facial Recognition in China - YouTube
TSB overhauls onboarding with Onfido’s biometric facial recognition
Zeeshan Anwar

Zeeshan Anwar

  Another step in reducing time from the transaction. Wish we were now able to introduce facial recognition biometrics in our day to day other transactions activities. This could poltentially be "taking a can of pepsi" out of a vending machine or a "ticket at the train station's ticket vending machine" or "even filling up fuel at Shell/BP" or perhaps "buying grocery from ASDA" (as most of their self check-out have now introduced camera enabled screens) after simply smiling and blinking your eyes in front of the facial recognition biometric screen. All of this is very much possible, provided you have funds in the account to enable you conduct the transaction.