The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

    n-img-roi-cross

    Before You Go, Schedule Your Free Demo Today

    Valid Invalid number


    Note: Fields marked with an asterisk(*) are mandatory.

    n-exit-img-roi-cross

    Thank you for your demo request

    We appreciate your interest and look forward to discussing how our solution can meet your needs. Expect to hear from us shortly with scheduling details.

    Close

    us

    18.97.14.84

    Internet of Things: B2B IoT Segments about to hit $300 Billion by 2020

    Internet of Things B2B IoT Segments about to hit 300 Billion by 2020

    The Internet of Things is growing exponentially with respect to its usage and capabilities. A whole new ecosystem is developed with the adoption of internet-connected devices whose infrastructure varies entirely different from the centralized base, a base to which we were previously used to. A remarkable and fascinating device-connected world has introduced smooth means to exchange massive data through wireless mediums and clouds transfer. IoT transformation in multiple industries has connected the mainframes.

    With internet popularity, industrial use-cases are innovating ensuring efficiency and security at the same time. The global IoT market has grown from $157 billion in 2016 to $457 billion by 2020 with the increasing Compound Annual Growth Rate (CAGR) of 28.5%. Statistics show that by 2020 consumer applications will be generating $150 billion and B2B applications will be anticipating revenue of worth twice i.e. around $300 billion.

    IoT systems are giving wing to enterprises to potentially increase the use-cases that provide big benefits to the organizations. The ability of IoT devices to collect, monitor, transfer and control the data enables huge efficiencies and cost-effective solutions that can be endorsed at an industrial level for easy task management. With these promising benefits, a hoard of security concerns come along that can be hazardous if overlooked.  

    IoT devices and their Security

    The inclination of IoT devices and their applications have raised several challenges that could be highly effective for the businesses directly or indirectly. The investment decisions in IoT applications are complicated with respect to the fragmentations of industries in subsectors. The use-cases vary which makes it hard for the owners to mold the mission-critical fundamentals with a technology niche accordingly. Still, large firms are investing in IoT platforms.

    Secondly, even on a smaller scale, industries are hindered to analyze the struggle and integration requirements. But, here the common point to ponder for both small and large businesses is the security of these IoT devices. 

    The building momentum of the Internet of Things (IoT) is welcoming the scalability. The connection of IoT with other devices, integrating it with cloud services, sharing data with third parties and suppliers contribute towards the value of the business. The security risks that are associated with the scalability of applications and interfaces should be catered efficiently to avoid the chances of fraud and tampering.

    Leading platforms are utilizing this technology to gather customer data using the sensors embedded in IoT devices and aggregate them into the cloud services. This data is then used to run a bunch of smartphone and desktop applications with real-time data that is used in automated broadcasts. For legitimate firms, this data is the next growth driver that opens the doors of business extensibility. 

    IoT Connections Verification

    Considering all this discussion, let’s dive into the need for IoT security implementation. The data flowing from one node to another should be protected with controlled data access and stringent security measures. IoT developers can use several verification methods while programming IoT devices. A large number of security attacks are as a result of unauthorized access. To combat the risks of data tampering and data breaches, developers must take into consideration the verification methods in conjunction with several other security measures:

    • While programming an IoT device, developers can use encryption using a strong cryptographic hash function to secure data transfer from one node to the other. Devices should be given a serial number for device identification
    • For the approved devices along with their serial number, a database should be maintained to verify the request for device connection against that list
    • Keeping alive the concept of public and private key pair, device connection request should be approved while matching the secret key with the public key
    • Verify the IP address of the device to allow connection with it. Understand the behavior of device to make sure that connection request is not coming from some malicious packets flowing in the network
    • Every time the device is disconnected, verify the device before connected it if the connection is not aborted it is trusted in that situation

    A best practice to secure the IoT devices from data tampering, data alteration in the transit and hacking of devices, is to take added security measures to eliminate the chances of a data breach in any way. A highly sensitive data is more prone to cyberattacks, smart fraud prevention strategies should be taken to avoid data theft.

    With technology adoption, the scalability would also be increasing in the future, and yes, malevolent actions are a never-ending story. To compete with these fraudulent activities, IoT devices must ensure verification methods to avoid authorized data access. While enjoying the services of IoT devices, big data analyst platforms need to endorse the security for the elimination of breaches that can be costly for industries.

    Related Posts

    Blog

    Biometric Identification revolutionizing the world in 2020

    Every day we come face to face with new technology innovations that leave us awestruck. From the ...

    Biometric Identification revolutionizing the world in 2020 Explore More

    Blog

    Top 10 Biometric Technology Trends to Watch For in 2022

    Biometric innovations in present times have manifested various technological advancements and the...

    Top 10 Biometric Technology Trends to Watch For in 2022 Explore More

    Blog

    The Power of Identity Verification Solutions in Ensuring Risk-Free Recruitment Operations

    Over the recent years, the employment industry has undergone significant changes, from mass offbo...

    The Power of  Identity Verification Solutions in Ensuring Risk-Free Recruitment Operations Explore More

    Blog

    Revolutionizing the Finance Sector | VKYC’s Impact on Identity Verification in 2024

    Identity verification is crucial in today’s ever-evolving digital landscape as it helps prevent i...

    Revolutionizing the Finance Sector | VKYC’s Impact on Identity Verification in 2024 Explore More

    Blog

    5 Reasons to Invest in Intelligent Character Recognition Services

    Businesses deal with a plethora of documents, ranging from accounting and finance to sales and ma...

    5 Reasons to Invest in Intelligent Character Recognition Services Explore More

    Blog

    EDD: Safeguarding Business Interests with Comprehensive Risk Mitigation

    Traditional due diligence practices may not provide sufficient insights into higher-risk business...

    EDD: Safeguarding Business Interests with Comprehensive Risk Mitigation Explore More

    Blog

    August 2023 Recap: Major Violations and How AML Screening Can Help

    With technological advancement, scammers are revising their strategies to bypass verification sol...

    August 2023 Recap: Major Violations and How AML Screening Can Help Explore More

    Blog

    AML Compliance in High-End Vehicle and Yacht Sales

    High-end vehicles and expensive properties are the universal status symbols that represent the ex...

    AML Compliance in High-End Vehicle and Yacht Sales Explore More

    Blog

    A New Dawn for Global Coverage: Built to Work Everywhere

    A New Dawn for Global Coverage: Built to Work Everywhere Explore More

    Blog

    The Most Common Cryptocurrency Scams and the Role of e-IDV

    Cybercrimes and scams are rampant across the digital space, and cryptocurrency is no different. W...

    The Most Common Cryptocurrency Scams and the Role of e-IDV Explore More

    Blog, Fraud Prevention

    ID Verification Trends to Curb Online Frauds

    Automated Identity Verification Can Play a Significant Role in Fraud Management Fraud management ...

    ID Verification Trends to Curb Online Frauds Explore More

    Blog

    Financial Regulations Against Crypto Sanctions Evasion in the UK – Is the Crypto Sector Safe?

    Many governments throughout the world are facing concerns of money laundering and sanctions evasi...

    Financial Regulations Against Crypto Sanctions Evasion in the UK – Is the Crypto Sector Safe? Explore More

    Blog

    Top 6 Reasons Why RegTech Will Improve AML Compliance

    Global fines imposed to deter money laundering increased by 50% in 2022,  alarming businesses tha...

    Top 6 Reasons Why RegTech Will Improve AML Compliance Explore More

    Blog

    AML Compliance in the UK’s Financial Sector – What Shufti Offers

    The UK is known in the global financial paradigm for being both a financial hub and the dirty mon...

    AML Compliance in the UK’s Financial Sector – What Shufti Offers Explore More

    Blog

    Why KYC Solutions are becoming a norm in Cryptocurrency?

    KYC Solutions provide a great opportunity for crypto exchanges and virtual currency enthusiasts t...

    Why KYC Solutions are becoming a norm in Cryptocurrency? Explore More

    Blog

    Prevailing Financial Crimes and AML Regulation in Argentina – How Shufti Can Help

    Argentina has faced many significant challenges due to its geographical location, including the f...

    Prevailing Financial Crimes and AML Regulation in Argentina – How Shufti Can Help Explore More

    Blog

    China’s New Data Security and Personal Information Protection Laws [2022 Update]

    For the purpose of identification, interdiction, and prevention, many governments, regulators, an...

    China’s New Data Security and Personal Information Protection Laws [2022 Update] Explore More

    Blog, Identity & KYC

    4 Ways KYC Banking Regulations are Shaping the Future

    Know Your Customer (KYC) regulations are vital for the banking system. Money laundering, depositi...

    4 Ways KYC Banking Regulations are Shaping the Future Explore More

    Blog

    5 Predictions on the Future of Digital KYC and eKYC

    It’s 2023. Welcome to the day and age of digital KYC verification. From multiple copies of ID car...

    5 Predictions on the Future of Digital KYC and eKYC Explore More

    Blog

    AML Screening – Identifying and Overcoming Challenger Banks’ Weaknesses

    There are approximately 77 challenger banks in Europe alone, the best range amongst the other reg...

    AML Screening – Identifying and Overcoming Challenger Banks’ Weaknesses Explore More

    Blog

    The ‘What’, ‘How’ and ‘Why’ of Sanctions Screening | A Basic Guide

    International collaboration and cross-border transactions have become the norm in our interconnec...

    The ‘What’, ‘How’ and ‘Why’ of Sanctions Screening | A Basic Guide Explore More

    Blog

    Online Payment Fraud and the Role of AML Transaction Monitoring

    Imposing travel restrictions worldwide after the COVID-19 pandemic led to an unprecedented surge ...

    Online Payment Fraud and the Role of AML Transaction Monitoring Explore More

    Blog

    Top 10 Identity Verification Trends to Look Out for in 2022

    Did you know identity fraud is growing at a faster than ever rate? Businesses across the globe ar...

    Top 10 Identity Verification Trends to Look Out for in 2022 Explore More

    Blog

    CDD in Real Estate Sector – How to Comply With Updated Regulations

    When it comes to investing funds, real estate is considered the safest sector to invest in becaus...

    CDD in Real Estate Sector – How to Comply With Updated Regulations Explore More

    Biometric Technology, Blog

    How Liveness Detection is an apt Answer for Facial Spoof Attacks?

    The world went haywire on the launch of the new iPhone X; well, to be honest, when does it not? H...

    How Liveness Detection is an apt Answer for Facial Spoof Attacks? Explore More

    Blog

    Balancing UX and Security in the Finance Sector with Biometric Authentication

    The global coronavirus outbreak transformed financial operations and forced retailing banks to te...

    Balancing UX and Security in the Finance Sector with Biometric Authentication Explore More

    Blog

    Global Expansion, Digitization, and Crimes – How Shufti Can Help Financial Industry

    The financial industry has seen significant technological changes over the past recent years. Man...

    Global Expansion, Digitization, and Crimes – How Shufti Can Help Financial Industry Explore More

    Blog

    AML/CFT Regulations of Hong Kong: Paper Over Cracks?

    On September 15, 2021, Hong Kong’s Securities and Futures Commission issued consultation conclusi...

    AML/CFT Regulations of Hong Kong: Paper Over Cracks? Explore More

    Blog

    The Complete Guide | Identifying Fake Documents

    As digital transformation accelerates, many document application processes have become faster and...

    The Complete Guide | Identifying Fake Documents Explore More

    Blog, Online Marketplace

    Age Verification – Must Have For Age Restricted Retailers

    Mobile e-commerce makes up for nearly 29% of the entire e-commerce sales in the US. A majority of...

    Age Verification –  Must Have For Age Restricted Retailers Explore More

    Blog

    Cross-Border KYC Compliance | Understanding and Overcoming the Challenges

    To handle money laundering incidents and rising regulatory pressure, the banking industry benefit...

    Cross-Border KYC Compliance | Understanding and Overcoming the Challenges Explore More

    Blog

    How biometrics in visa process reduce travel difficulties

    Biometric technology is enhancing the travel industry in many ways.  Factors that drive the secur...

    How biometrics in visa process reduce travel difficulties Explore More

    Blog

    Top 6 trends in Anti-Money Laundering for 2020

    To enhance the scope of AML compliance, new regulations were brought into force throughout last y...

    Top 6 trends in Anti-Money Laundering for 2020 Explore More

    Blog, Online Marketplace

    How Mobile KYC will revolutionize the Digital World?

    Mobile KYC is the next frontier in Identity Verification services allowing greater access to busi...

    How Mobile KYC will revolutionize the Digital World? Explore More

    Blog

    KYC and AML Compliance – Addressing the Challenge of Money Laundering in Online Trading Platforms

    An online trading platform is a program where shareholders and traders deal through financial int...

    KYC and AML Compliance – Addressing the Challenge of Money Laundering in Online Trading Platforms Explore More

    Blog

    Singapore’s Digital Payment Token and AML Regulations [2022 Updates]

    Financial crimes are an ever-increasing threat to the global economic climate. As a financial hub...

    Singapore’s Digital Payment Token and AML Regulations [2022 Updates] Explore More

    Blog

    Gambling Regulations in Germany Lay Ground for Robust Player Verification

    User engagement towards digital platforms has been growing at an exponential pace for the past fe...

    Gambling Regulations in Germany Lay Ground for Robust Player Verification Explore More

    Blog, Identity & KYC, Online Marketplace

    Why 2 Factor Authentication is vital for Online Identity Risk Management?

    Online identity risk management is becoming harder and harder on cyberspace. It is a headache for...

    Why 2 Factor Authentication is vital for Online Identity Risk Management? Explore More

    Blog

    The Vital Role of AML Compliance for P2P Lending

    Archiac banking traditions saw loan applicants held in suspense, waiting for lengthy periods of t...

    The Vital Role of AML Compliance for P2P Lending Explore More

    Blog

    Shufti Celebrates 5 Years of Innovation in the IDV Industry

    October 2022 marks Shufti’s 5th anniversary – five successful years of building trust globall...

    Shufti Celebrates 5 Years of Innovation in the IDV Industry Explore More

    Blog

    Regulatory Compliance | The Importance of Age Verification on Betting Sites

    Online betting sites and gambling platforms frequently face significant challenges in adhering to...

    Regulatory Compliance | The Importance of Age Verification on Betting Sites Explore More

    Blog

    Compliance and conversions don’t have to be at odds

    Compliance and conversions don’t have to be at odds Explore More

    Blog

    Designing a Risk-free Customer Onboarding Flow for the Freelancing Industry

    Freelancing websites saw an increased demand during the pandemic, and the trends continued to ris...

    Designing a Risk-free Customer Onboarding Flow for the Freelancing Industry Explore More

    Blog

    Singapore’s Digital Payment Token and AML Regulations [2022 Updates]

    Financial crimes are an ever-increasing threat to the global economic climate. As a financial hub...

    Singapore’s Digital Payment Token and AML Regulations [2022 Updates] Explore More

    Blog

    Mounting Cases of Money Laundering through Digital Currencies in 2021

    Even though cryptocurrencies like Bitcoin, Ethereum, and Dogecoin are increasing rapidly, yet the...

    Mounting Cases of Money Laundering through Digital Currencies in 2021 Explore More

    Blog

    New KYC Regime for the UK, US, and Australia – What’s in it for Financial Institutions?

    Financial institutions are known for getting their reputation maligned due to crimes like identit...

    New KYC Regime for the UK, US, and Australia – What’s in it for Financial Institutions? Explore More

    Blog, Business Technology

    Identity Verification Fuels Growth of Ride Sharing Industry

    The ride-sharing industry is growing at a huge pace. As per Orbi’s research, the ride-shari...

    Identity Verification Fuels Growth of Ride Sharing Industry Explore More

    Blog

    The Importance of KYC Remediation to Prevent Financial Crimes

    If we talk about financial institutions including banks and their processes, one can freely argue...

    The Importance of KYC Remediation to Prevent Financial Crimes Explore More

    Blog, Reg Tech

    EU’s 4th AML Directive Aims to make the Payment Ecosystem Crime Free

    On June 26, 2018, the European Union landed the fourth AML directive that is targeted at combatin...

    EU’s 4th AML Directive Aims to make the Payment Ecosystem Crime Free Explore More

    Blog

    AML Compliance – Identifying the Red Flags Money Laundering in the Real Estate Sector

    Purchasing real estate is an attractive way for money launderers to legitimise larger amounts of ...

    AML Compliance – Identifying the Red Flags Money Laundering in the Real Estate Sector Explore More

    Blog

    Anti-Money Laundering Screening | Securing Digital Economies from Financial Crimes

    The increased reliance on digital banking and the advent of virtual currencies in today’s d...

    Anti-Money Laundering Screening | Securing Digital Economies from Financial Crimes Explore More

    Blog

    Why Payment Processors Need Mobile ID Verification?

    One of the many by-products of progressing technology is payment systems that have cropped up ove...

    Why Payment Processors Need Mobile ID Verification? Explore More

    Blog, Identity & KYC, Online Marketplace

    How KYC for ICOs can Make Cryptocurrency Great Again?

    Give people a mode of money transaction free from banks. That was the thought behind cryptocurren...

    How KYC for ICOs can Make Cryptocurrency Great Again? Explore More

    Blog

    Hazards of Ransomware are real for Cryptocurrency Miners

    Cryptocurrency may well be the future of economic landscape and it has the potential of taking th...

    Hazards of Ransomware are real for Cryptocurrency Miners Explore More

    Blog

    Document Verification Checks: Streamlining the Onboarding Process for New Customers

    Verifying documents is critical to regulatory compliance, risk assessment, and many organisations...

    Document Verification Checks: Streamlining the Onboarding Process for New Customers Explore More

    Blog

    Is Your Company Safe? The Importance of Document Verification to Strengthen KYC Checks

    Businesses across the globe are still vulnerable to threats like money laundering, terrorist fina...

    Is Your Company Safe? The Importance of Document Verification to Strengthen KYC Checks Explore More

    Blog

    Verify Like a Local: Identity in Nigeria

    Verify Like a Local: Identity in Nigeria Explore More

    Blog

    The Changing Landscape of KYC/AML Regulations in 2021

    Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations have been evolving over time...

    The Changing Landscape of KYC/AML Regulations in 2021 Explore More

    Blog

    The need for identity verification solutions spiking in demand

    At present, we are living in a digital world. Everyone is on the internet which is an anonymous s...

    The need for identity verification solutions spiking in demand Explore More

    Blog, Business Technology, Identity & KYC

    6 Digital Solutions for Banks to Help with KYC

    Digital KYC: For banks, streamlining the customer onboarding is essential. The manual way of ente...

    6 Digital Solutions for Banks to Help with KYC Explore More

    Blog

    High-Risk Customers in Banking and How EDD Can Help Identify Them

    In this age of digitisation, banks and other financial institutions face a high risk of money lau...

    High-Risk Customers in Banking and How EDD Can Help Identify Them Explore More

    Blog

    Stronger Global Identity Coverage… Where it Counts

    In today’s globalized economy, businesses are striving to expand their footprint across borders. ...

    Stronger Global Identity Coverage… Where it Counts Explore More

    Blog

    A Detailed Insight Into Australia’s Gaming and Gambling Regulations

    In recent years, the online gaming and gambling industry has experienced significant growth as te...

    A Detailed Insight Into Australia’s Gaming and Gambling Regulations Explore More

    Blog, Identity & KYC

    Can Identity Verification Services be Cheated by Hackers?

    The latest intervention in the industry of fraud prevention services is identity verification ser...

    Can Identity Verification Services be Cheated by Hackers? Explore More

    Blog

    Infographics

    To develop a simple and easy understanding of e-KYC and the role played by Shufti’s digital i...

    Infographics Explore More

    Blog

    How to Design an Effective Client Lifecycle Management (CLM) System with ID Verification

    The customer journey with a business is very comprehensive. It does not end once the customer is ...

    How to Design an Effective Client Lifecycle Management (CLM) System with ID Verification Explore More

    Blog

    Revolutionizing the Finance Sector | VKYC’s Impact on Identity Verification in 2024

    Identity verification is crucial in today’s ever-evolving digital landscape as it helps prevent i...

    Revolutionizing the Finance Sector | VKYC’s Impact on Identity Verification in 2024 Explore More

    Blog

    AML Non-Compliance Penalties Soaring Sky High in the First Half of 2021

    After the skyrocketing fines and penalties on banks for AML non-compliance in 2020, the year 2021...

    AML Non-Compliance Penalties Soaring Sky High in the First Half of 2021 Explore More

    Blog

    A Brief Overview of the Cryptocurrency Landscape in the US and Canada [2022]

    The adoption of cryptocurrency throughout the world has ignited the launch of new markets and reg...

    A Brief Overview of the Cryptocurrency Landscape in the US and Canada [2022] Explore More

    Blog

    ID Document Fraud | Is Your Business Prepared to Fight the War Against Fraud in 2024?

     In today’s data-driven, digitized world, various business processes have been automated...

    ID Document Fraud | Is Your Business Prepared to Fight the War Against Fraud in 2024? Explore More

    Blog

    7 Fascinating Facts about Face Verification Technology

    Technology is a fundamental part of our day-to-day lives, from checking the weather and connectin...

    7 Fascinating Facts about Face Verification Technology Explore More

    Blog

    Safeguarding Financial Operations with Transaction Monitoring and AML Screening

    To enhance the power of anti-money laundering regulation, transaction monitoring systems have evo...

    Safeguarding Financial Operations with Transaction Monitoring and AML Screening Explore More

    Take the next steps to better security.

    Contact us

    Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

    Contact us

    Request demo

    Get free access to our platform and try our products today.

    Get started