As the coronavirus continues to disrupt life around the world, consumers are leaning harder than ever on ecommerce for day-to-day essentials. As they do, however, more and more of their personal information is shared online. As a result, individuals have become further exposed to the possibility of identity theft. Fortunately, by harnessing unique biometric identifiers to create verified digital identities that consumers can use online, identity fraud can be stopped in its tracks, with the additional benefit of leveraging self sovereign identity technology to enable consumers to reclaim ownership and control of their personal data.
Fraud is an unavoidable symptom of the coronavirus, and one that looks to become a permanent fixture in the new normal. According to insights from consumer reporting agency Experian, fraud has increased 33% in the UK alone since April, with fraudulent credit card applications cited as one of the main infractions.