Latest news with #identityverification
Japan Times
a day ago
- Business
- Japan Times
Japan to require IC chip ID verification for online bank accounts in 2027
Japan will require banks and credit card companies to use IC chip-based identity verification for non-face-to-face account openings starting in April 2027, under a revised rule aimed at curbing fraud, the National Police Agency (NPA) said Thursday. The change to the enforcement of the Act on Prevention of Transfer of Criminal Proceeds will make it mandatory for financial institutions to confirm customers' identities via IC chips embedded in My Number identity cards or driver's licenses. Submitting images or photocopies of ID documents — currently allowed in online or mail-based applications — will be prohibited due to the growing difficulty of detecting forgeries, the agency said. The new rule is designed to prevent fraudulent accounts — often used in schemes known as special fraud, which includes bank transfer scams and telephone banking fraud — from being opened under stolen identities. Under the existing framework, financial institutions are obligated to verify a customer's identity when opening an account. In online settings, this has typically involved sending images of ID documents via smartphone or mailing photocopies — methods increasingly vulnerable to advanced counterfeiting techniques. The revised regulations designate IC chip scanning as the default method of digital verification. For those without a My Number card or driver's license, alternative documentation such as original copies of residency certificates or tax documents — which are harder to falsify — can still be submitted by mail. Authorities have set the implementation date two years out to allow sufficient time for system upgrades on the part of financial service providers. The NPA published the draft revision in February and received 83 public comments. It is also considering requiring the use of IC chip data for in-person identity checks in the future. Translated by The Japan Times
Yahoo
2 days ago
- Business
- Yahoo
Interview: James Neville CEO of Yaspa
With over 10 years of experience as a founder, as well as holding previous roles as CTO at Worldpay and Just Eat, James Neville, CEO of Yaspa, is perfectly qualified to discuss all things related to open banking and payments. He is also one of the payments sector's leading experts in identity verification. It is rather stating the obvious to note that open banking has the potential to revolutionise payments. It offers faster, more secure, and cost-effective transactions. But Yaspa's research highlights a key challenge: naming conventions matter. Pay-by-Bank, Pay by bank account, Account-to-account payments, A2A, Open banking. Instant payments are all terms used to refer to the same, simple method of a payment made from one bank account to another. That is a payment initiated through open banking providers, meaning consumers avoid the chore of typing in, checking and verifying the transfer details. 'Pay by Bank' is gaining traction, but its meaning remains ambiguous to many consumers. This is one key takeaway from the Yaspa Index 2025, launched to act as a benchmark for industry awareness and to provide valuable insights for businesses looking to optimise their payment offerings. 55% of UK adults report familiarity with the term 'Pay by Bank', but 45% remain unaware of the phrase despite its growing presence in online checkouts; Security (72%) and ease of use (66%) are the top priorities for consumers choosing a payment method; QR code payments are on the rise, yet only 27% of respondents used them for transactions in the past year, and Consumer education remains critical to driving open banking adoption, particularly in high-growth sectors such as gaming and retail. Neville tells EPI that there is still an element of consumer education that needs to happen and that it is very demographic dependent. That is a polite way of saying that towards the older range of the demographic spectrum that there is work to do, 'A lot of people are using the new tools without knowing the actual banking terms for the tools they're using. We don't expect consumers to really understand the mechanics of it. Pay by bank, knowing that you're using your banking app or the bank services to make a payment and the need to differentiate from cards - that is important.' If open banking is ever to realise its full potential, issues such as data transparency, improvements in payment execution and enhanced fraud prevention are essential. Yaspa is committed to driving these changes, working with industry partners to help shape a more seamless and secure future for open banking payments. Neville is also championing the standardisation of language related to open banking across the industry to help boost consumer understanding and adoption. The challenge then is to ensure that consumers understand the benefits to them of using instant bank payments. For example, speed, security, control and fewer input errors. And then, once consumers have used it in one place, recognising it's available as an option in another place, even if it's from a different provider. Looking ahead, Neville is optimistic that open banking can deliver a frictionless experience for businesses and consumers alike. With the right enhancements, it could soon rival - and even surpass - traditional card payments in convenience, security, and efficiency. 'We're pretty unique in the space in that we connect identity and money. So we do lots of clever things, like providing bank identity on the transaction itself, and we provide financial health of that individual at the point of payment.' Yaspa already operates across 19 European markets and is now plotting expansion in the Americas. Neville has good reason to look ahead with optimism. "Interview: James Neville CEO of Yaspa" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Interview: James Neville CEO of Yaspa
With over 10 years of experience as a founder, as well as holding previous roles as CTO at Worldpay and Just Eat, James Neville, CEO of Yaspa, is perfectly qualified to discuss all things related to open banking and payments. He is also one of the payments sector's leading experts in identity verification. It is rather stating the obvious to note that open banking has the potential to revolutionise payments. It offers faster, more secure, and cost-effective transactions. But Yaspa's research highlights a key challenge: naming conventions matter. Pay-by-Bank, Pay by bank account, Account-to-account payments, A2A, Open banking. Instant payments are all terms used to refer to the same, simple method of a payment made from one bank account to another. That is a payment initiated through open banking providers, meaning consumers avoid the chore of typing in, checking and verifying the transfer details. 'Pay by Bank' is gaining traction, but its meaning remains ambiguous to many consumers. This is one key takeaway from the Yaspa Index 2025, launched to act as a benchmark for industry awareness and to provide valuable insights for businesses looking to optimise their payment offerings. 55% of UK adults report familiarity with the term 'Pay by Bank', but 45% remain unaware of the phrase despite its growing presence in online checkouts; Security (72%) and ease of use (66%) are the top priorities for consumers choosing a payment method; QR code payments are on the rise, yet only 27% of respondents used them for transactions in the past year, and Consumer education remains critical to driving open banking adoption, particularly in high-growth sectors such as gaming and retail. Neville tells EPI that there is still an element of consumer education that needs to happen and that it is very demographic dependent. That is a polite way of saying that towards the older range of the demographic spectrum that there is work to do, 'A lot of people are using the new tools without knowing the actual banking terms for the tools they're using. We don't expect consumers to really understand the mechanics of it. Pay by bank, knowing that you're using your banking app or the bank services to make a payment and the need to differentiate from cards - that is important.' If open banking is ever to realise its full potential, issues such as data transparency, improvements in payment execution and enhanced fraud prevention are essential. Yaspa is committed to driving these changes, working with industry partners to help shape a more seamless and secure future for open banking payments. Neville is also championing the standardisation of language related to open banking across the industry to help boost consumer understanding and adoption. The challenge then is to ensure that consumers understand the benefits to them of using instant bank payments. For example, speed, security, control and fewer input errors. And then, once consumers have used it in one place, recognising it's available as an option in another place, even if it's from a different provider. Looking ahead, Neville is optimistic that open banking can deliver a frictionless experience for businesses and consumers alike. With the right enhancements, it could soon rival - and even surpass - traditional card payments in convenience, security, and efficiency. 'We're pretty unique in the space in that we connect identity and money. So we do lots of clever things, like providing bank identity on the transaction itself, and we provide financial health of that individual at the point of payment.' Yaspa already operates across 19 European markets and is now plotting expansion in the Americas. Neville has good reason to look ahead with optimism. "Interview: James Neville CEO of Yaspa" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
BBC News
4 days ago
- Sport
- BBC News
Tennis players call for ID verification after Boulter abuse
Tennis players have demanded more action to stop "dangerous" abuse from the "dark side" of social media with calls for the introduction of identity verification after Britain's Katie Boulter laid bare the extent of the to BBC Sport, Boulter said that receiving abusive content and death threats has become "the norm" for athletes and that "it becomes more apparent every single time you go on your phone".She shared messages including one that read "Hope you get cancer" and another that referenced damaging her "grandmother's grave if she's not dead by tomorrow".After saying she fears about the impact this kind of abuse can have on younger players, Boulter has received support and backing from her fellow players. What are players calling for? Speaking after her round-of-32 defeat to Francesca Jones at the Nottingham Open on Tuesday, British number four Harriet Dart called for the introduction of identification measures when creating social media accounts."The amount of abuse that we all get is pretty mind blowing," Dart said."The WTA are obviously trying to do something about it with the Threat Matrix system, but until Instagram verify ID or something, sadly, people can keep reopening accounts."Boulter's partner and world number 12 Alex de Minaur said that an increasing number of athletes do not deal with their own social media accounts because of abuse."There is a lot of good that comes out of it [social media], but there is also a dark side," he before she faces Boulter in the last 16 at Nottingham on Wednesday, British number three Sonay Kartal called for collective action."These people can just create endless accounts. And I don't necessarily know who is to be held responsible, I don't think it's solely one person," she said."If I can help report it, if WTA can help report it, we'll come together and try our best to eliminate it. I think that's the best way to get rid of it."Figures provided by data science firm Signify, the International Tennis Federation (ITF) and Women's Tennis Association (WTA) - show that, in 2024, about 8,000 abusive, violent or threatening messages were sent publicly to 458 tennis players through their social media for Dart, social media abuse goes far beyond tennis."This isn't just a tennis issue," she said. "This is a global issue, and it's not just a sport issue. It's everywhere. It's even regular people who I'm sure get trolled or whatever by certain people or individuals."We live in the 21st century, and are we not ID-ing people on social media. You can connect people, and then people can be found and stuff. Because it's pretty horrific, the abuse that all of us get. That's why I feel like a lot of the time, social media can be like a big negative."We also have very impressionable young females, young males on social media these days. I am an experienced athlete who's gone through this for a very, very long time. I know what they say to me doesn't mean anything. "But for people who are a lot younger and inexperienced, I think it can be very worrying and very dangerous too."British men's number one Jack Draper shared Boulter's concerns about future generations."I think we're lucky enough to maybe have grown up into social media, whereas, you know, the generation coming up are growing up with it," he said."So they know nothing different. I think it's so easy to spread online hate. It's not easy, especially, I think she said, when you're younger and you lose a match or something, and you come into the professional tour and getting all this abuse saying they will come around your house and do this and that. It's not nice."World men's number two Carlos Alcaraz said he doesn't look at social media after he loses because abuse is "difficult to deal with"."I have seen a lot of players that have received a lot of messages from the gamblers, from the people."If I have to give an advice, [it would be] not to see social media when things are not going well, because people sometimes can be really dangerous." Boulter's response During a press conference on Tuesday, Boulter said she has received hundreds of messages of support since opening up on her online abuse."I looked on my phone this morning, and literally, there are hundreds of messages of people reacting to it, and every single person was just telling me to disregard it," she said."And [they were saying] how much they love me and how much they appreciate me bringing this subject into light, and they weren't aware of it. "I just don't think people are aware of it. I don't think people realise how much that actually happens to players. I think you kind of see what you want to see."The 28-year-old also offered to support young female players who are struggling with online abuse."I am trying to raise awareness for it, and if any of those girls feel like they want to talk to me about it, I would be more than happy to do so at any point about anything," Boulter said."I see myself as an open book, and I see myself as someone who's been through quite a journey." Is social media ID realistic? Social media identification measures are often suggested to combat abuse, but according to a report published by Ofcom - the UK's online safety regulator such controls are difficult to report says that identification measures were discussed debated while the Online Safety Act 2023 ('the Act') was passing through the Government and Parliament decided against imposing a blanket policy on user verification, for reasons including freedom of expression and the anonymity requirements of groups such as survivors of domestic was given legal powers under the Act to hold online services to account for protecting their UK users. This involves making sure that online services have systems and processes in place to protect UK users from illegal harms, such as inciting violence, and protecting children from content that is harmful to of the online abuse people experience today is illegal under UK law, but much of it, though distressing and harmful, is report says that "Platforms take different approaches to content that is harmful, but not illegal: some ban certain categories of harmful content in their terms and conditions; others provide users with more tools to protect and tailor their online experiences; and some may choose to do nothing at all."A future phase of the Online Safety Act will see all adult users of the biggest social media platforms given the option to verify their identity. But this will not be month, Jessica Zucker, online safety director at Ofcom, said: "So many people who work in sport are subjected to vile abuse online. This is having a devastating impact on them, their livelihoods and their families, and no-one should have to put up with it."The UK's new online safety laws mean tech firms now have to start protecting people on their sites and apps from illegal forms of abuse."
Bloomberg
5 days ago
- Business
- Bloomberg
ICYMI: Facial Recognition vs Facial Verification
Having experienced the devastating consequences of online criminal activity, founder and CEO, Andrew Bud, vowed to find a safe and secure way for organizations to verify the genuine presence of an individual. To enable this to happen it was necessary to ensure that the person setting up an online account was an actual person, and then authenticate that person whenever they return to use a digital service or verify their identity at secure locations. The Big Idea was to use facial biometrics and controlled illumination to assure the genuine presence of a human being. Why facial biometrics? Because most government-issued identity documents contain a picture of a face and an identity can be verified against a trusted source. Why controlled illumination? Because it's completely effortless for the user – with no instructions to follow or complex actions required. Just a brief, simple selfie capture that takes just seconds to complete. This gives the most secure assurance that an individual is not an imposter, a photo, a mask, a deepfake video, or a multitude of other sophisticated cyber attack tactics being used by criminal gangs worldwide. iProov does facial verification, not facial recognition. The difference is, with verification tech like iProov's, the user consents, and derives a benefit from it.
