By David Orme, Senior Vice President of IDEX Biometrics ASA
Digital identity, also known as an amalgamation of information available online that can bind a persona to an individual, is changing the face of personal identity as we know it. In a similar way to its physical counterpart, digital identity can be used to authorise an individual’s access to something that may otherwise be restricted. In the online world, a username, email or password can be used in a multitude of ways – allow a user to transfer money, shop online or access a social media account for example – in the same way a passport can be used for travel, or an identity card to verify age.
However, when in the wrong hands, this personal information can be used by cybercriminals for fraudulent and malicious intent. In fact, often just one element of personal information can be all a cybercriminal needs to steal an individual’s online identity – providing them with the ability to withdraw funds from a bank account or even apply for credit cards or loans in another person’s name.
Despite rising concern around the security of personal data, our recent research revealed a surprising lack of awareness regarding the actual value of people’s personal data. The research found three-in-five (59%) consumers worried about the security of their personal information, but in the same research almost three quarters (73%) said they would be prepared to give up their name in exchange for a free coffee, and an astonishing third (33%) would even be prepared to share their date of birth. Highlighting an obvious disconnect between the public’s concerns and their behaviour.
Findings from the millennial generation were ..
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