Biometrics in the war on identity fraud

1 February 2019 Access Control & Identity Management

Identity fraud remains one of the most prominent cybercrime threats of modern society today. Global research notes that on average businesses lose over US$ 200 billion every year – while consumers loose more than US$16 billion due to identity fraud. In South Africa, statistics from the South African Fraud Prevention Service (SAFPS) show that identity theft has increased by 200% over the past several years and there are no signs of it letting up any time in the future.

Pine Pienaar.
Pine Pienaar.

According to Pine Pienaar, MD of Afiswitch: “The expected growth in identity theft and related fraud is startling. However, what is perhaps more frightening is the sheer volumes that are lost as a result of these crimes. The monetary loses, combined with the potential reputational loses, or further liabilities businesses may face can be daunting – and let’s not forget the emotional toll these types of crimes can take on the victims.”

Adding to the pressure, Cybersecurity Ventures predicts that identity theft, and related fraud, will remain a top cybercrime trend and that the methods cybercriminals use will continue to become more sophisticated.

Pienaar indicates that there are several types of identity fraud that vary in frequency and severity of incidences, including miscellaneous identity theft, credit card fraud, higher rates of employment or tax-related fraud, various types of financial fraud, phone or utilities fraud and even government documents or benefits fraud.

“An employee’s stolen data may also be used to commit fraud or other crimes against their employer. Or, in other instances, stolen personal data is increasingly being sold on the online black market and used to create severe damages, from corruption to money laundering or even used to help hide terrorism activities. These realities therefore make identity fraud one of the most serious concerns and a priority for consumers, businesses and governments worldwide,” he says.

In the war on identity theft and related fraud, the global identity theft protection services market is expected to exceed US$21.23 billion by 2026, expanding at a growth rate of 14.2% between 2018 and 2026.

“In addition to investment in sophisticated software programmes, algorithms, and even artificial intelligence, protection services should be looking to build biometrics-based verifications into their authentication processes as such solutions offer for more accurate identity verifications and to deliver faster results in real-time,” suggests Pienaar.

Currently, unimodal, automated fingerprint identification systems (AFIS) form the basis of most biometric solutions today. However, due to mounting pressures to address the growing identity theft crisis, the industry is increasingly moving to more integrated multimodal biometric solutions.

To this end, biometric solutions are set to go mainstream, given it is the foundation to managing identity authentication and digital security. In fact, an IBM Security Report (IBM, Future of Identity Study, 2018) found that while 67% of respondents said they are comfortable using biometric authentication today, 87% say they’ll be comfortable with it in the future.

Pienaar indicates that while there are some concerns over how and where biometric data will be captured and stored, these concerns can be easily allayed as it is possible to securely capture, encrypt and store biometric data. “The onus is now on the protection services industry, businesses and governments to make use of flexible identity platforms that provide users with accuracy, security, speed and convenience – which makes the identity verification process a positive user experience. “In today’s fast paced lifestyle, knowing who you are dealing with is critical to managing personal, business and even societal risks on a macro level. Advanced biometrics solutions can offer confidence in the ability of any system, programme or application to verify an individual’s identity, even in this digital age of fake personas and cybercriminals. Because of this, we can expect these solutions to become more mainstream and used as a line of defence in the war on identity fraud,” concludes Pienaar.

For more information contact Afiswitch, +27 12 679 2900, [email protected], www.afiswitch.com





Share this article:
Share via emailShare via LinkedInPrint this page



Further reading:

The power of PKI and private sector innovation
Access Control & Identity Management News & Events Government and Parastatal (Industry)
At the recent ID4Africa 2025 Summit in Addis Ababa, the spotlight was firmly on building secure, inclusive, and scalable digital identity ecosystems for the African continent.

Read more...
Biometric security key for phishing-resistant MFA
Products & Solutions Access Control & Identity Management
New FIDO-compliant USB, Bluetooth, and NFC BioKeys with biometric login and centralised management for phishing-resistant, passwordless multifactor authentication (MFA) for enterprise users.

Read more...
Gallagher Security releases OneLink
Gallagher Animal Management Products & Solutions Access Control & Identity Management
Gallagher Security has announced OneLink, a cloud-based solution that makes it faster, easier and more cost-effective to deploy security anywhere in the world, transforming how security can be delivered to remote sites and distributed infrastructure.

Read more...
Suprema unveils BioStar Air
Suprema neaMetrics News & Events Access Control & Identity Management Infrastructure
Suprema launches BioStar Air, the first cloud-based access control platform designed to natively support biometric authentication and feature true zero-on-premise architecture. BioStar Air simplifies deployment and scales effortlessly to secure SMBs, multi-branch companies, and mixed-use buildings.

Read more...
Continuous AML risk monitoring
Access Control & Identity Management Security Services & Risk Management Financial (Industry)
AU10TIX, launched continuous risk monitoring as part of its advanced anti-money laundering (AML) solution, empowering businesses to detect behavioural anomalies and emerging threats as they arise.

Read more...
The future of security: intelligent automation
Access Control & Identity Management AI & Data Analytics IoT & Automation
As the security landscape evolves, businesses are no longer looking for stand-alone solutions, they want connected, intelligent systems that automate, streamline, and protect.

Read more...
Smart automation is changing security
SA Technologies IntelliGuard Access Control & Identity Management
Security has come a long way from manual check-ins, logbooks, and standalone surveillance cameras. With the rise of intelligent automation, security is now faster, smarter, and more connected than ever.

Read more...
The future of security in South Africa
ATG Digital Access Control & Identity Management
Security technology is evolving rapidly, but is local innovation keeping pace? Some global players recognise the potential of South African products for international markets, but can our manufacturers and service providers thrive without external support?

Read more...
Integration enhances estate access control
Access Control & Identity Management
With one-third of residential burglaries starting at the front door, the continued seamless integration of Glovent’s estate management platform with Impro access control software is welcome news for estates.

Read more...
T&A in South Africa’s retail sector
ERS Biometrics Access Control & Identity Management
Using existing systems, ERSBio provides a practical and more cost-effective way for businesses to manage operations, reduce payroll mistakes, and enhance overall efficiency through innovative T&A processes.

Read more...










While every effort has been made to ensure the accuracy of the information contained herein, the publisher and its agents cannot be held responsible for any errors contained, or any loss incurred as a result. Articles published do not necessarily reflect the views of the publishers. The editor reserves the right to alter or cut copy. Articles submitted are deemed to have been cleared for publication. Advertisements and company contact details are published as provided by the advertiser. Technews Publishing (Pty) Ltd cannot be held responsible for the accuracy or veracity of supplied material.




© Technews Publishing (Pty) Ltd. | All Rights Reserved.