Wednesday 10/26/22 - Identity Jedi Newsletter - Subscribe

Hey Jedi!  Welcome to the eighth edition of the Identity Jedi Newsletter!

Coming off an F1 Weekend in Austin, ( Team Hamilton BABY!!!!, yeah I know it's Red Bull's year, but whatever) the engines are revved up and ready to dig into some identity topics. Here's what we have this week:

• FIDO release second annual Online Authentication Barometer report.

• Socure releases report on Synthetic Identity Fraud

• Not your typical third party. A look into the trend of fake remote workers.

Let's get to it!

What's happening this week

Have we killed the password yet?

FIDO Alliance recently published it’s second Online Authentication Barometer, a report which gathers insights into the state of online authentication in 10 countries across the globe. The report shows that although passwords remain the dominant form of authentication online, password usage has dropped by 5% – 9% across all five major use-cases that it tracks – including accessing financial services, work computers and accounts, social media, streaming services, and smart home devices – compared to last year. So while we haven't quite killed the password yet, we are definitely hot on it's heels

Synthetic Identity on the rise

Socure recently released a report on the state of Synthetic Fraud. For those of you not familiar with the term, here's the definition: 

Socure's report does a great job of breaking down all aspects of SIF, and I highly recommend you take the time to read the report. What this represents is 50+ years of bad decisions coming home to roost. From SSNs to data breaches, we've created an environment that makes it easier than we'd like for criminals to compose an identity and commit fraudulent acts. This puts things like identity proofing and authentication at the forefront of trying to prevent it. 

Real or Fake Workers

Following up with the report from Socure we get this article from Solutions Review talks about how criminals are using aspects of Synthetic Identity Fraud. Combine a global pandemic with a need to go 100% remote overnight, SIF and you get fake third-party identities. It's a new world we are living in Jedi.

Product News

Good Reads

Podcasts

Last Word

I remember having a conversation back in 2015 after the OPM data breach. I said, at this point, there is so much data out there that putting together someone's complete identity is table stakes, its what they do with that data that scares me.  I won't claim to be an expert on all things Synthetic Identity Fraud, but I will say it intrigues me, and I will learn more about it. From a practitioner's perspective, I think it's one of the most critical aspects of identity we need to follow. Much more to come on this. Until then, that's a wrap for this week Jedi. 

 Be Kind to each other, Be Good to each other, Love each other.

-Identity Jedi