Vietnam now requires it for some purchases. It may be a fraud risk in Singapore. Or ML could be making it safe
The use of selfies to verify identity online is an emerging trend in some parts of the world since the pandemic forced more business to go digital. Some banks – and even governments – have begun requiring live images over Zoom or similar in order to participate in the modern economy. The question must be asked, though: is it cyber smart?
According to Mitchell, anti-money-laundering and know your customer processes are sometimes covered by laws and sometimes set by standard bodies, like the US "Getting a selfie for KYC purposes is not a problem on its own – the problem is that this data is not properly handled and in many cases is never discarded after the verification is complete," Reed told"If they are of any value to criminals – and a data pack allowing a crim to complete KYC is certainly valuable – someone will try to steal them," explained Reed.
"I would say that process would deter a casual attacker, but any one vaguely motivated would find way around it," Gartner's Khan toldof still selfies. In his experience, businesses that rely on simple still selfies are typically smaller outfits that have experienced fraud and have implemented a selfie-based stopgap as they scramble to put a proper solution in place.Khan's clients use vendors whose product includes liveness checks integrated into websites or mobile apps.
The whole process will usually be aided by machine learning and typically takes under 20 seconds to complete. The vendors either store the data for a defined period of time or purge it immediately.Khan thinks concern about identity theft from still images and picture IDs found on the dark web is overblown, as most entities will require liveness checks for opening bank accounts and other tasks.
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