Tag: identity verification
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Philippines Faces P4 Trillion Fraud Hit in 2025, TransUnion Reveals
Overview: A Record Fraud Toll on Philippine Businesses Philippine companies faced a staggering surge in fraud-related losses in 2025, with total revenues eroded by about P4 trillion, according to a global survey by TransUnion, a leading information and insight company. The findings highlight the growing sophistication of fraudsters and the evolving risk landscape that Philippine…
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Experts warn: Surveillance and data breach risks in social media eKYC plans
Growing push for social media eKYC Across several countries, policymakers are exploring electronic know-your-customer (eKYC) processes that leverage social media platforms to verify identities. Proponents argue that comparing government records with a user’s online presence can speed up account opening, reduce fraud, and expand financial inclusion. However, cybersecurity researchers and privacy advocates caution that this…
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Experts Warn: Social Media eKYC Plan Risks Surveillance and Data Breaches
Introduction: The push for social media-based eKYC As governments and private firms explore electronic know-your-customer (eKYC) processes, some proposals consider leveraging social media data to verify identities. While this approach could streamline onboarding and enhance fraud prevention, cybersecurity experts warn that it also creates a pathway for surveillance and data breaches. The debate highlights a…
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Yes to e-ID: digitalswitzerland advances Swiss digital identity rollout
What Swiss voters approved The recent decision marks a pivotal moment for Switzerland as a nation on its path toward a centralized, government-backed digital identity system. By endorsing a national e-ID infrastructure, voters have laid the groundwork for a single, secure way for residents to verify themselves online when accessing public services, conducting commerce, or…