Live biometrics checks ‘the only way’ to prevent identity scams in finance

In a recent podcast from PaymentsJournal, Micheal Sheehy, chief compliance officer at payments firm Payoneer, pointed to large-scale recent fraud cases such as the Equifax data breach, Covid unemployment scams, and PPP loans, saying that it has “really become obvious that the only way to prevent this fraud is a live biometric check.”

The exec argued for the benefits of mixing biometric data with digital identity highlighting how a government database can be used to access digital IDs and by …

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