Digital Identity is the new frontier of the Internet, modern technology and ways to protect, manage and use it for your personal life.
Self-Sovereign Identity refers to the idea that individuals or organisations can have complete control of their digital and physical identities, as well as control over the sharing and usage of their personal data.
We maintain a connection to the Internet around the clock, every day of the week. That equates to a total of 10,080 minutes per week during which a hacker has the potential to exploit your identity and cause you significant financial damage.
The term Personally Identifiable Information (PII) refers to any data that can be used to track down, identify, or contact a specific individual. Examples of PII include names, birth dates, addresses, credit card numbers, phone numbers, ethnicity, gender, criminal history, and health records.
What plagues 1 in every 15 people, finds a new victim every 2 seconds, has potentially led to losses of over 2 trillion dollars and hasn’t even spared children?
As the world and the global economy continues to react and respond to the ongoing coronavirus crisis, we can be sure that the post-corona world is not going to look the same as it did.
We live in such times where having a Digital Identity has become indispensable. From voting to something as basic as getting a new phone connection, the need for Digital Identity has grown enormously.
KYC or Know Your Customer is an important procedure that businesses, financial institutions, and government agencies carry out for customer authentication. The introduction of e-KYC has come as a welcome change that has not only reduced the time and cost but has also reduced the chances of fraud and helped in information protection.
Not very long ago, getting a KYC was considered a headache by most. It meant locating a KYC center in your area and then scheduling a day for a visit for the KYC procedure which was often during the workweek.
Today, more than 3.7 billion people on the planet have access to the internet, that’s almost 40% of the population. The number was less than 1 % in 1995! We have come a long way in the past two decades.
What is the scale of the internet? It’s almost impossible to precisely quantify the size of this dynamic, ever-growing behemoth. But data stored on the internet should give us a fair idea. This again is no easy task.
In the modern world of digitization when everyone is dealing with online data transactions, they are somewhere compromising on their own data security. It’s suffocating to even imagine that whatever we are reading/writing or even clicking anything online is being monitored by someone or the other.
In any Identity storage system, personal data is vulnerable to being accessed or intercepted and read by unauthorized users, during storage or when it is being transferred. This mainly happens when data is hosted in data centres or at the cloud and in particular during transactions that involve online authentication, verification, or exchange of identity data.
In the modern digital world, everyone and everything has a digital identity. Digital identity allows systems, technology, and apps to know who they are interacting with and verify that the services provided by them are reaching the right target and are not mishandled.
A digital identity is information about an individual, organization, or electronic device that exists online. Digital identity is well and truly established as one of the most significant technology trends of the digital era on the planet.
Every citizen of each country needs to have a legal identity for the government to be able to deliver financial benefits as well as healthcare and other socio-economic services. Government-issued digital identities are one’s legal identity. A legal identity typically is in the form of passports, birth certificates, and national identity cards and is the recognition of an individual by the state. A legal identity affords you access to services offered by the government and private providers; like travel, bank accounts, and educational opportunities.
In the modern, digital-first world where everyone is dealing with online transactions and virtual data records, data security emerges as a prime area of concern. Data has become the new currency and seems to be a necessary evil. Every bit of personal data that you share online, whether for complex financial transactions or simple forms, is vulnerable to abuse.
Ever imagined how the primitive caveman lived? Just looking into your wallet and the sheer amount of documents that you have to carry will make you feel like one. It’s an atrocity that in this digital age we’re still carrying around debit/credit cards, driving licenses etc.
Have you been using your cat’s name followed by an “&” as an important account password and using a few of its iterations in other places? If your answer is even remotely a yes, you have got to read further. These passwords will not cut it and you will have to do much more to protect your digital identity in 2021.
We have just about completed 6 months in 2021, and the country has already been rocked by at least half a dozen major data breaches. From SBI to Domino’s to Air India to MobiKwik to Facebook to even the CoWin portal, the biggest of the big players have fallen prey to these attacks, compromising the data of millions billions of individuals.
Digital identity is a term that is still evolving and taking shape but whose importance has been accelerated by the Covid-19 pandemic. While nature will continue to spring its surprises (and shocks), one thing seems to be increasingly clear—that the future of digital identity is an app on your phone.
Facebook tells me you live in Mumbai and graduated from Manchester University in 2018. LinkedIn tells me that you work as a freelance writer. Instagram tells me that your last vacation was in Goa. Your Medium article casually mentions how a fraudulent transaction happened from your bank account last month. Your tweet to Zomato says that you placed an order last week at 8:10 PM to be delivered in Bandra. But McDonald’s got it all wrong. And it was an hour late! What I am trying to get to here is that your digital identity is well and truly scattered.
Records are meant to be broken, but… is this one included? Crime is infiltrating cyberspace at a pace never imagined possible, thanks to the pandemic and adoption of digital life. At the end of 2021, cybercrime will reportedly cause damages worth USD 6 Trillion, making its size equivalent to the third-largest economy in the world.
Data privacy is broadly concerned with giving individuals control over their sensitive data. They should have proper inputs on why their information is being collected and how it will be processed, all done within the realms of consent and confidentiality. The spotlight being on the last two words.
No, this isn’t clickbait. We really don’t know anything about our users, and we never plan on knowing either. Do you know why? Because we like to lead by example and give them complete control over their privacy.
The internet is a vast, constantly evolving landscape we are yet to understand fully, and it’s not getting any more predictable. For the longest time, we had enough reasons to believe that cybercrimes mainly resulted from human error. So, most of our efforts focused on the basic dos and don’ts.
For the longest time, passwords have been at the heart of our personal cybersecurity toolkit. When we had a couple of email IDs and social media accounts to handle, it made complete sense.
The Internet has changed the way we live. It has made finding information, connecting with others, and sharing our thoughts and opinions easier. And while these digital advances have allowed us to spend less time waiting for things in the real world, they also come at a price.
Digital identity is the new frontier in cybersecurity. It is a term frequently in use now, thanks to how our online presence is expanding. The way we portray ourselves digitally has become as important as the way that we do offline.
Technology, in the case of cybersecurity, has been a double-edged sword. It has allowed individuals, businesses, and governments to be more connected than ever before, but it has also created new avenues for criminals and hackers to cause havoc.
Much like our real-world identity, our digital identity is multifaceted and distinct. Since we have become internet-savvy, the data that makes up our digital identity is all over the place.
Cyberattacks are becoming more frequent. They are also becoming more sophisticated in their tactics. This is not surprising since the stakes are high with the amount of data available for exploitation.
In a time when the headlines are riddled with the latest data breaches and data leaks, businesses cannot afford to have a false sense of security. There is simply too much at stake, and they need to take proactive steps to protect themselves from being the next headline.
In today’s digital age, news about data breaches is becoming more common with each passing day. Big companies face it, as can you. Some data leaks make it to the headlines, while others happen but don’t get reported.
With the digital world becoming an intricate part of our lives and with organisations moving their business models to the online mode, cybersecurity is the need of the hour. As we enter the new year, it is, hence, important to know what the five more important cybersecurity trends of 2022 will be.
In August 2017, a nine-judge bench of the Supreme Court emphasised that privacy is a fundamental right for Indians. While this was a landmark judgement, there were still some serious gaps in the country’s regulatory framework.
A study of 127 hackers at the Black Hat USA conference was conducted by a cybersecurity firm a few years back. As per the research, over 50 percent said that their primary motivation to hack was to ‘search for emotions’.
Cybercriminals now have the chance to profit immensely from all the money that has begun to flood the cryptocurrency market. As new crypto-based investments like initial coin offerings (ICOs) and non-fungible tokens (NFTs) become more and more popular, the hackers have more avenues open for them now. So why is there a rise in cryptocurrency-related cyberattacks? Read on to know.
An insider threat is a harmful behaviour that directs against an organisation. It originates from people who have legitimate access to the network, applications, or databases of the organisation.
In the context of cybersecurity, ‘hacking’ refers to actions taken by a threat actor (a ‘hacker’) to compromise digital services. These include computers, smartphones, and networks. Hackers are sometimes stereotyped as being solely illegal, driven by monetary gain, information collection, or performing the act simply due to the joy of a challenge. Hacking, surprisingly, can be for a good cause too. Such hacking can help many businesses and people to stay safe when they are online. Even if it sounds incredulous, ‘hackers’ and ‘ethical’ can be used in the same sentence.
Passwords have become a very important part of our digital lives. Yet it is common knowledge that we don’t always value them as much as we should. We tell ourselves, ‘What could I possibly have that a hacker would want?’ and end up creating weak passwords in the process. Often, we also have the same password for all of our accounts, simply because it is relatively easier to memorise one password than many different ones.
Threat detection, by examining its complete security ecosystem, is the method of identifying malicious activities that can compromise a network. Taking mitigating actions immediately after a threat has been identified prevents the threat from exploiting any present vulnerabilities.
The International Organization for Standardization (ISO) is a global organisation. It gathers and oversees a wide range of standards for a variety of fields
One of the most serious cybersecurity threats organizations must deal with is phishing scams. Phishers are attackers who employ malicious social engineering tactics in their phishing schemes. The most common methods are phishing emails and website email scams.
Pharming is a type of malicious social engineering attack in which criminals redirect Internet users, who are trying to reach a specific website, to a different, fictitious website.
The cloud has quickly become the primary location for businesses’ daily operations. Employees who work in the office, as well as those who work remotely, have access to cloud-based productivity tools that store the majority of their company’s data.
Digital identity is the new frontier in cybersecurity. It is a term frequently in use now, thanks to how our online presence is expanding. If you are one of those who are unaware of what this term means or haven’t understood it entirely, you’ve reached the right place.