The digital identity market is attracting the attention of regulators and market participants alike and has the potential to become a major growth area to combat evolving threats.

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Summary

In recent weeks, there have been a number of news stories about the remarkable speed and guile with which criminal organizations have used deepfake technology to scam sophisticated clients out of tens of millions of pounds, and even as security professionals issue advice about how to mitigate the risk, the criminals are on to the next angle. It has to be assumed that these sorts of criminal actors have the technical competency to compromise a digital identity system. 

Digital identities attracting the attention of regulators and market participants

Fraudsters are manipulating computer-generated images to animate them with motion, resulting in deepfakes used to defraud victims. These tools utilizing AI are currently evading the mechanisms that are being deployed to defend against attacks, which means organizations are struggling to adapt to emerging threats, and remote identity verification techniques are fast becoming outdated. Unsurprisingly, the digital identity market is attracting the attention of regulators and market participants alike, and although in its infancy, it has the potential to become a major growth area.

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