More and more people depend on the Internet to conduct all aspects of their daily life, including online banking and shopping. In fact, 51 percent of U.S. adults, or 61 percent of Internet users, bank or conduct financial transactions online according to the PewResearch Center.
As the Internet becomes a larger part of our lives, so have the dangers and risks associated with it. The question of identity, and its digital mutability, has become increasingly urgent for users.
Verifying users of Web-based systems is an enormous challenge that comes with very high stakes. Cyber crime is on the rise everywhere and major security analysts agree that it will experience sustained growth in the coming years. Javelin Strategy & Research estimates losses from account takeover in 2012 at $4.9 billion, a 69 percent increase from the previous year.