Device ID was one of the first methods organizations used to prevent fraud and authenticate users. It’s still in widespread use, but device authentication isn’t nearly as strong an identity solution as many think.
It’s incredibly easy to pretend to be someone you’re not online.
Traditional online identity verification solutions are failing to stand up to today’s fraudsters. In 2016, more than 25% of identity theft fraud involved the use of stolen information to open new accounts.
Businesses regularly use device identity for fraud prevention and to authenticate users. Browsing the web on your cell phone? These solutions collect information on your mobile provider, phone model, internet connection and other data to link your unique device back to you.
Our security walls aren’t as high as we think they are. There are holes, and cybercriminals know how to slip through them, undetected. Application fraud has become a number one problem for companies across all verticals. In 2016, more than 25% of identity theft fraud involved the use of stolen information to open new accounts.
I attended the K(NO)W Identity Conference last week, which has emerged in the last year as the premier event for the identity industry.