$15B Dollars – That’s What Our Digital Identities Will Be Worth By 2024

Document verification and digital identity services will be worth a massive $15 billion by 2024.  That’s according to a research study conducted by Goode Intelligence.

Currently, the market is worth $518 million but as we become more and more reliant on online services, there is a clear trade-off in where and how your digital self is being used.

As businesses around the world trade with each other, the need for fast and reliable identity checks is crucial.

“The rise in fake and synthetic identity is a major concern for organizations who must find ways in which to support digital business and to establish trust with people that they have no previous relationships with” explains CEO Alan Goode.

BUT THERE IS A CATCH…

Earlier this month, reports surfaced of new kind of phishing scam, where cybercriminals have been asking targeted victims to confirm their identity by taking selfies and completing an ID document. They were then asked to upload these to a webpage. You can read more about this on SecureList.

Other similar attacks observed in Italy simply requested victims to email their selfie images to a specified address to be included in a smartphone giveaway.

Some Facebook users, meanwhile, received emails stating that they had to provide similar images and medical insurance details to prevent the deletion of their accounts following complaints about content in their posts to the social media site.

The report also covers a series of scams relating to Amazon Prime, the application of fairly traditional scams to YouTube and Instagram, and phishing campaigns related to the launch of the new school year and new Apple products.


Photo by Joshua Sortino


 

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