Verifiable credentials: a valuable tool in the fight against rising ID fraud?
US Financial institutions face a critical challenge. Suspicious account records are on the rise despite innovations in identity and verification (ID&V) technologies. Can widespread adoption of High Assurance Identity Verification by financial institutions be the answer? Banks need to establish a reasonable belief of a customer’s identity during account opening, while minimizing risk. Cryptographically verifiable […]
OIDF supports Japanese regulator on phishing defence
The OpenID Foundation continues to support government partners, with the OpenID Foundation’s Chairman Nat Sakimura recently leading the organization’s expert guidance to Japan’s Financial Services Agency (FSA) on strengthening cybersecurity defences for securities and trading companies facing sophisticated phishing attacks. Japanese financial firms have been experiencing increasingly sophisticated phishing and unauthorized access attacks, prompting the […]