“The Australian government has accredited Eftpos as the first private sector digital identity exchange operator under the country’s Trusted Digital Identity Framework (TDIF), enabling the use of the payments network’s ConnectID solution across a wide range of online transactions that require digital ID verification.”

“It’s unclear how many taxpayers’ refunds have been delayed during the 2021 filing season. But it’s an issue for a growing number of Americans. The IRS flagged 5.2 million tax refunds for fraud last year, a nearly 50% increase over 2019, according to the Taxpayer Advocate Service, an independent organization within the IRS. Of those, about 1.9 million were flagged for identity screening. (The rest were earmarked for income verification.) Basically, the IRS wants to ensure a crook isn’t using a taxpayer’s identity to claim a tax refund. The agency mails letters (either a 5071C or 6331C letter ) to taxpayers if it suspects foul play. The IRS can’t process a tax return or issue a refund until the person responds. However, most flagged returns aren’t fraudulent. In 2019, 63% of the refunds vetted for identity theft turned out to be legitimate, according to the Taxpayer Advocate Service.”

“Stripe today announced the launch of Stripe Identity, the easiest way for internet businesses to securely verify the identities of users from over 30 countries. As more economic activity happens online, the need for internet businesses to establish and maintain high levels of trust increases commensurately. Online businesses frequently need to verify the identities of their users to comply with age requirements or “Know Your Customer” (KYC) laws—and to increase trust and safety by reducing fraud, preventing account takeovers, and stopping bad actors.”

“Acuant , a leading global provider of identity verification solutions, today announced the launch of Acuant®GO , a suite of no code solutions. Acuant®GO delivers the power of the Acuant’s Trusted Identity Platform at lightning speed. It is the fastest way to go-to-market and deploy mobile and web identity verification and KYC/AML that meet regulatory, business and customer needs.”

“LexisNexis® Risk Solutions today announced LexisNexis® Fraud Intelligence , the newest addition to the company’s suite of fraud and identity products. LexisNexis Fraud Intelligence is a non-FCRA solution that helps organizations mitigate new account fraud risk by bringing together identity events and consumer application activity to arrive at a comprehensive, powerful score that offers complete view of identity. The new tool limits friction for legitimate consumers because it can identify applications in real-time that are most likely fraudulent.”

“Accertify, Inc., a wholly-owned subsidiary of American Express, today announced the launch of a new solution designed to help organizations address the significant rise in fraudulent online account openings and account takeovers. Accertify Digital Identity is a sophisticated API-based solution that empowers organizations to trust and verify who is on the other side of a digital interaction.”

“Ekata today announced the release of the latest innovation to its global identity verification dataset, Network Score. Network Score is a machine learning prediction that enables businesses to better identify good and bad customers based on a series of insights. The new dataset flags potentially risky digital transactions and fraudulent customers by analyzing the activity patterns of the identity information being used.”