Ever wondered about digital identity? If not then do spare a few minutes to think about your digital identity. But when you know more about it, you will realize that it is nothing but your uniqueness. Yes, it is indeed the information about individuals, organizations, or anything that exists online. Further, it also shows the uniqueness. Anything specific that differentiates between two of the same category.
On the other hand, proving the digital identity of a person is challenging. This becomes further complicated when it comes to blindly trusting the information available online.
These days people value their privacy and security a lot. Customers want complete security of their information. At the same time, they want to avoid complications. They also want to avoid the burden of various authentication processes. Therefore, businesses are facing problems related to security and accessibility.
The world is becoming digital day by day. Hence the problem is also going to worsen.
When it comes to digital identity, there are many chances of fake identities being available. It is necessary for the companies to find customers and partners with the real identity. Artificial intelligence and other advanced systems can indeed keep a check on fraud digital identity.
Technology has reached such heights that it has the potential to do good as well as bad. When technology is helping one to make a fraud digital identity, it also helps to track frauds. Yes! there lies the beauty of technology. It creates problems, it also has solutions for the same.
There are digital footprints to verify the digital identity of a person. A close observation of the online activities will establish a pattern of behavior. Further, it indicated whether the person or organization is related to any fraud. Therefore, the company can confidently hire a person who is not a fraud.
When more cases of such digital identity fraud are increasing, banks are also becoming more vigilant. They are no longer in favor of simple usernames/passwords rather have switched towards more authentication. These include:
- Knowledge-based authentication
- Multi-factor identification
- Document centric
We are moving towards advancements day by day. But the core aspects remain the same. Verifying the digital identity is indeed essential to verify it is not a fraud. When intelligent people are in a run to find new technologies to help mankind, fraud people are also trying to find new ways to fool us. They are figuring out new methods to overcome the old authentication process. Keep your cybersecurity updated in order to avoid fraud.
The government has set up many role models on how to deal with digital identity fraud. The government has taken many different authentication methods in order to authenticate its users. Further, they are not relying only on knowledge-based exams. Rather, rely on using a combination of device-risk, document verification, and multi-factor authentication. Therefore, with these advanced steps government agencies are able to reduce fraud and improve identity verifications.