Event Round-Up: Fraud Prevention in Digital ID

techUK recently hosted a webinar on fraud prevention in digital ID with a particular focus on Project Shield. The event was opened by Katherine Holden, the Head of Digital ID, Data Analytics & AI at techUK, who welcomed the speakers:

• Chris Lewis, Head of Solutions at Synectics Solutions 

• Gareth Narinesingh, Head of Digital Identity at Mitek Systems 

• John Abbot, Chief Commercial Officer at Yoti 

You can watch the full recording of the event below.

The event featured an in-depth discussion about Project Shield, a groundbreaking initiative spearheaded by Mitek Systems, Yoti, and Synectics Solutions to tackle digital identity fraud. The project's overarching goal is to create a robust defence mechanism against identity fraud by establishing a collaborative ecosystem of certified identity providers that share intelligence on potential threats. 

Project Shield aims to promote the adoption of digital identities while ensuring stringent measures are in place to safeguard against fraud. With the growing reliance on digital identities in various sectors, the need to coordinate efforts and protect customers' sensitive information has become paramount. The initiative has been in development for three years, with extensive research and collaboration among the participating organisations. During this period, the project's focus has been on refining and enhancing the system to address the complexities of digital identity fraud effectively. 

The panel session touched upon the project's progress and current status as it transitions from a technical demonstration phase to a real-world use case. The focus on adhering to open standards for signal exchange and ensuring interoperability with existing fraud data sharing systems was emphasised to avoid creating additional silos in an already fragmented ecosystem. 

Privacy considerations were also a significant aspect of Project Shield. The initiative prioritises data minimisation and adheres to GDPR principles, ensuring that only relevant risk-related information is shared among IDPs. This privacy-centric approach is essential in building trust among consumers and stakeholders. The event also explored potential future use cases driven by the digital identity sector, allowing room for expansion and innovation based on industry needs and participants' interests. Moreover, the need for research on international standards for fraud information sharing was emphasized as a crucial aspect of fraud prevention on a global scale. 

Moreover, collaboration emerged as a central theme, emphasising the importance of working together between IDPs, law enforcement, and other stakeholders to effectively prevent identity fraud. The initiative seeks to share actionable intelligence to disrupt organised crime groups involved in fraudulent activities.

As the event concluded, attendees acknowledged Project Shield's significance in the digital identity space and expressed enthusiasm for actively participating in the initiative. Overall, the event provided valuable insights into Project Shield's purpose, progress, and future direction. The collaboration between Mitek Systems, Yoti, and Synectics Solutions aims to revolutionise digital identity protection and set new industry standards for fraud prevention. As the project moves forward, stakeholders are encouraged to contribute actively and support this transformative initiative to enhance digital identity security on a global scale. 

For more information on this project and how to get involved, please contact [email protected].

To find out more and get involved in techUK’s Digital Identity work check out techUK's digital identity programme page here.