Latest news with #identityvalidation
Forbes
13-06-2025
- Business
- Forbes
The FBI Outlines A New Threat To Your Identity
Skip Sanzeri is a strategic advisor at iValt, a leader in identity validation, and founder at QuSecure, a leader in quantum cybersecurity. A recent and stark FBI warning reminds us that we need new solutions to protect our identities in a world driven by criminals now powered by AI. The FBI states that in this new type of attack, cybercriminals are mimicking many of the sites we use on a daily basis to trick users into inputting their credentials by using search engine advertisements. Thanks to ever-increasing online access and connectivity, AI, and quantum computing, it is increasingly difficult for legitimate businesses and sites to know the true identity of users accessing their systems. Think in terms of deepfakes, where video and audio can be created to mimic the real user. And since our daily activities, thoughts and preferences are tracked and stored, data is available everywhere on all of us. Any person or system from anywhere in the world can access nearly any information on government or corporate systems due to our pervasive use of the Internet, leading to predictions from groups like Forrester that cybercrime could cost up to $12 trillion this year alone. Let's say you are registered with a payroll site for your employment where you can access payroll records, benefits or other information. Cybercriminals will run an advertisement on your search engine that looks like the normal link you might click on to access the payroll site. The fraudulent link has almost no discernible differences, and it may trick you into clicking and entering your credentials. Once you enter your login and password, they are captured and linked with other data from social engineering or information about you that is already stolen or on the dark web. This gives hackers the ability to access your various accounts, whether business-related or personal. Additionally, once attackers have this information, they may also call the victims, masquerading as an employee from the site you usually access to gain a token or other information, which gives them deeper access to your account. This, in turn, allows them to transfer money, create an unemployment account or even change direct deposits and redirect future payments from that retirement account. Of course, this technique can be used for almost any site where you log in. It's clear that two-factor authentication and even tokens are not enough. All of these standard identity validation mechanisms are failing. The key for company and government website owners is to know exactly who we are. This cannot be done with only logins, passwords and tokens since none of these have any relationship to us. They are just keys to a door. If the key to your office gets stolen, the lock doesn't care who is using it. We need to integrate new ways of identifying users, including: • Biometrics: This includes facial recognition, voice recognition, handprint and other methods. These are unique identifiers that, in combination with other factors, help create stronger identity validation. • Machine ID: Mobile phone and machine numbers, or system numbers, that uniquely identify the phone or system you are using. • Geofencing: This is where we can pre-set exact geographic areas such as ZIP codes, cities or states from where we access sites. As an example, if you live in a 35401 ZIP code, you can preprogram the system to only allow access from that ZIP code. This really helps because a lot of hackers access sites from other areas in the world. By geo-fencing to specific areas, it's one more step that hackers would have to figure out. It can also be used for travel so that if you access a site while on business or vacation, you can program that exact location and time (see the next bullet point). • Time Bounding: Being able to specifically program times when you access sites makes it nearly impossible for a cybercriminal to figure out how to impersonate you. As an example, if you only access your payroll account or brokerage account between 9:00 a.m. and noon on Wednesdays, you can time-bound that access so that any cybercriminal trying to hack your account would have to know that timeslot and all other attempts would be rejected. Using another example, a database administrator may turn off all access to a system between 11:00 p.m. and 8:00 a.m. No more hackers accessing systems overnight. According to a report from Malwarebytes (via Infosecurity Magazine), the majority of ransomware attacks occur between 1:00 a.m. and 5:00 a.m. local time, taking advantage of when systems are least protected by humans. • Take an interest in your own security. Let corporate and government sites you access know that you want better security. You can do this by going to the feedback or comment sections or sending emails to the site owners. Let them know that there are technologies available that provide much more advanced identity validation (as discussed above) than most sites are using today. • Don't click on any links provided to you in text, email or via web browsers (like ads or other links that look legitimate). Instead, use your saved links in bookmarks and favorites or type the URL into the browser yourself. This will keep you from clicking on any links that could be harmful. • Use Ad blocking in your browser. Usually, you can find out how to do this in your browser's settings. Additionally, you can buy third-party ad blockers and install them as extensions in your browser. • Use the existing security mechanisms that come with your computer such as Microsoft or others. Also, it's worth it to buy some well-known third-party software that will help identify threats and clean up your system when necessary. If there was an equivalent of Smokey the Bear for protecting you against hackers, he would say something like "Only you can prevent cyber theft." While not entirely true since corporations and governments need to do their part, you get the point. Be very diligent about your online access and presence and communicate with site owners to let them know you want better identity protection. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Associated Press
20-05-2025
- Business
- Associated Press
Powerhouse Southern Regional Bank Significantly Expands Partnership with Intellicheck
MELVILLE, N.Y.--(BUSINESS WIRE)--May 20, 2025-- Intellicheck, Inc. (Nasdaq: IDN), an industry-leading identity company delivering proprietary on-demand digital and physical identity validation solutions, today announced a top financial customer has signed a new high value three-year agreement. This agreement expands the initial digital use-cases to also include teller workstation transactions. The total contract value in the high seven-figure range is expected to propel this client to a top three revenue generator for the Company. The new agreement significantly expands the bank's utilization of Intellicheck's cutting-edge identity validation technology. This regional bank is now utilizing Intellicheck's technology in their more than 1,900 branches nationwide. The initial Annual Contract Value is anticipated to be a low-seven figure revenue amount paid in equal monthly installments for the first year as the product is rolled out throughout its system. The Total Contract Value is anticipated to be a high seven-figure revenue amount. The Company expects the additional contracted revenue to begin in the third quarter of 2025. Intellicheck CEO Bryan Lewis commented, 'We believe that the growth of this partnership reflects the important role our innovative technology solution delivers as it gives this bank the ability to accelerate customer acquisition and customer protection, while also enhancing bank-customer trust. Good customers benefit from the fraud protection only our unique proprietary technology can provide. We are very excited to significantly expand our relationship and lengthen the contract with this widely recognized regional bank.' Intellicheck's unique technology enables bank branch personnel to rapidly respond to requests for account changes, credit applications, and new account opening requests while at the same time stopping identity theft. Intellicheck's partner is a leading regional U.S. commercial bank. With more than $500 billion in total assets, the bank offers a wide range of consumer and commercial services through its wholesale and consumer businesses including consumer and small business banking, commercial banking, corporate and investment banking payments, and specialized lending businesses. Intellicheck provides both digital and physical identity verification solutions to industries where speed and certainty is crucial. Intellicheck's approach to proving identity is unique. It enables a frictionless customer experience that seamlessly fits into existing workflows using existing technology, scanning devices or Intellicheck's mobile app. Intellicheck's technology solutions provide a proprietary identity verification process that creates a competitive advantage for every business by facilitating rapid customer acquisition and on-going customer retention and trust at the point of service, while preventing unauthorized ID use and stopping identity-based fraud. About Intellicheck Intellicheck, the industry leader in identity verification management, prevents the unauthorized use of IDs to stop identity-based fraud. Intellicheck is the only SaaS-based validation and proofing service that uses a unique and proprietary analysis of DMV-issued IDs to create trusted, real-time customer identity verification experiences across a wide variety of sectors, both in-person and digitally. Each year, we validate around 100 million identities across North America, providing a seamless, invisible ID verification with 100% decisioning in under a second. For more information on Intellicheck, visit us on the web and follow us on LinkedIn, X, Facebook, and YouTube. Safe Harbor Statement Statements in this news release about Intellicheck's future expectations, including: the advantages of our products, future demand for Intellicheck's existing and future products, whether brand value and market awareness will grow, whether the Company can leverage existing partnerships or enter into new ones, and all other statements in this release, other than historical facts, are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA). These statements, which express management's current views concerning future events, trends, contingencies or results, appear at various places in this release and use words like 'anticipate,' 'assume,' 'believe,' 'continue,' 'estimate,' 'expect,' 'forecast,' 'future,' 'intend,' 'plan,' 'potential,' 'predict,' 'project,' 'sense', 'strategy,' 'target' and similar terms, and future or conditional tense verbs like 'could,' 'may,' 'might,' 'should,' 'will' and 'would' are forward-looking statements within the meaning of the PSLRA. This statement is included for the express purpose of availing Intellicheck, Inc. of the protections of the safe harbor provisions of the PSLRA. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements based on such factors as: market acceptance of our products and the presently anticipated growth in the commercial adoption of our products and services; our ability to successfully transition pilot programs into formal commercial scale programs; our ability to successfully implement and monetize new and expanded relationships with clients; continued adoption of our SaaS product offerings; changing levels of demand for our current and future products; our ability to reduce or maintain expenses while increasing sales; our ability to successfully expand the sales of our products and services into new areas including health care and title insurance; customer results achieved using our products in both the short and long term; success of future research and development activities; our ability to successfully market and sell our products, any delays or difficulties in our supply chain coupled with the typically long sales and implementation cycle for our products; our ability to enforce our intellectual property rights; changes in laws and regulations applicable to our products; our continued ability to access government-provided data; the risks inherent in doing business with the government including audits and contract cancellations; liability resulting from any security breaches or product failure, together with other risks detailed from time to time in our reports filed with the SEC. We do not assume any obligation to update the forward-looking information. View source version on CONTACT: Intellicheck Media and Public Relations: Sharon Schultz (302) 539-3747/[email protected] Intellicheck Investor Relations: Gar Jackson (949) 873-2789/[email protected] KEYWORD: UNITED STATES NORTH AMERICA NEW YORK INDUSTRY KEYWORD: TECHNOLOGY MOBILE/WIRELESS FINANCE SECURITY FINTECH BANKING PROFESSIONAL SERVICES SOFTWARE INTERNET SOURCE: Intellicheck, Inc. Copyright Business Wire 2025. PUB: 05/20/2025 08:10 AM/DISC: 05/20/2025 08:09 AM
