EVS Blog

Identity verification has always been a part of the onboarding process when customers create an account at a bank or financial institutions. The process of ensuring the people who open accounts are who they claim to be is crucial for maintaining security and preventing crimes like fraud and identity theft, and is necessary for maintaining legal compliance.

Every day I read about data breaches, identity theft rings, malware, and other security risks that impact individuals and businesses alike. For individuals in the identity verification and fraud prevention industries it is easy to become paranoid. The reality is that it is impossible to completely eliminate the risk of fraud; the good news is that you (probably) don’t have to.

I addition to the usual type of disaster-related frauds, a recent uptick in targeted phishing attacks (spear phishing an whaling) has been observed in the wild seeking to compromise business e-mail accounts. With a record number of employees working remotely due to the current crisis, the threat of compromised e-mail credentials is greater than ever.

There has been a growing trend recently of cyber thieves committing high value thefts by spoofing the e-mail accounts of c-level executives to initiate unauthorized international wire transfers. These e-mails typically appear to come from the CEO or CIO, requesting that an employee perform a wire transfer....

I’ve spoken with several companies recently that have chosen not to take the steps necessary to meet compliance because the regulations were not currently being enforced. It is not surprising that it takes time for government agencies to begin enforcing new regulations as those agencies get the operational and logistical...