With the rise of e-commerce, social media, and other digital platforms, our personal information is constantly being shared and stored online. This makes you vulnerable to identity theft and fraud, making it crucial to have a secure and trusted digital identity ...
Digital identity verification is a necessary process to protect individuals and organisations from identity theft and fraud!
The first step is establishing a unique digital identity. The Government have been consolidating their own online services and is introducing a single sign-on service across their entire platform. This will roll out further to industry at some point and will use the likes of existing biometric data, government-issued identification documents, or other online credentials.
These digital identities are then used to verify you whenever you engage with the Government or in commercial activities, such as making a purchase or accessing a secure website!
If you have a secure digital identity, it becomes much harder for individuals to impersonate you and gain access to your personal information. This not only protects you and your money, but also the organisations you interact with, as it reduces the risk of fraudulent activities.
It also helps to establish trust between you and organisations in the online world. By verifying your identity, organisations can ensure that they are dealing with the right person, and you can also have confidence in the security of your online transactions. This is especially important in industries such as finance and healthcare.
One initial form of digital identity is two-factor authentication which requires users to provide both a password and an ever-changing security code generated from an app installed on your phone. Think of the banking keyfobs that we introduced a number of years ago and expand that into a more user-friendly and widely accepted form.
Of course, all digital identity processes and systems must conform to the General Data Protection Regulation (GDPR), which sets strict guidelines for the collection and use of personal data. Organisations are required to obtain explicit consent from you before collecting your data and must ensure that it is stored securely.
"Digital identity verification plays a crucial role in ensuring security and trust in the online world!"
It may seem complex, and some will always believe that it will infringe on their right to privacy, but it is a necessary process to protect individuals and organisations from identity theft and fraud.
Will it happen anytime soon? Well, if you combine passports that include biometric data with two-factor authentication, we're already very nearly there. The Government's single sign-on will take us a step closer.
And with proper security measures in place and strict privacy regulations, we can continue to enjoy the benefits of the digital age while also safeguarding ourselves online.
Discover more about the Government's digital identity strategy by clicking here.
Until next time ...
ROGER EDDOWES Business Godparent
Would you like to know more?
If anything I've written in this blog post resonates with you and you'd like to discover more of my thoughts about digital identity and how it will develop in the United Kingdom, it may be a great idea to call me on 01908 774320 and let's see how I can help you.
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Roger trained at Edward Thomas Peirson & Sons in Market Harborough before working at Hartwell & Co, followed by Chancery, as a partner. He started Essendon Accounts and Tax with Helen Beaumont in 2014 as a general practitioner with a hands-on approach.
Roger loves getting his hands dirty, working with emerging, small-to-medium and family businesses to ensure they receive the best possible accountancy advice. Roger utilises an extensive network of business contacts to leverage the best guidance and practical solutions.
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