Reported in the Guardian, fraudsters have exploited heavy document checks conducted by letting agents, leaving potential tenants and mobile users vulnerable to having their identities stolen rather than verified. Leaving the victim blindsided, their phone was controlled and bank account funds cleared. The incident highlighted the fraud risks for mobile users.
Without employing reusable digital IDs, ID documents can be a massive gamble for verification, especially when cyber attacks are so frequent among industries like banking.
The victim was regretful when their bank and telecoms company were both slow to act and reimburse the money. She willing complied with entering her personal information through an online form including photos of her passport, driving licence and even allowing open access to her Barclays current and savings accounts.
The ordeal asked questions of both her bank and SIM operator like why the logic of adopting UK government certified reusable digital ID is not accepted.
Yoti, which claims to have been the “lone” champion of reusable digital ID from 2016-2019, was quick to comment on the negligence of sectors to fulfil the interests of customers wanting a reusable ID.
Robin Tombs, Yoti’s CEO, said he predicted a shift in 5 years when the “UK Government, or the UK’s financial and telecoms regulators, will decide key financial and telecoms businesses need to change”. Customers need the choice to use a certified digital ID and banks should not fulfil any interactions if the customer has indicated they do not want changes made to their account, unless authorised through their reusable ID.
O2 Telefonica commented on the article too insisting security remains its top priority while it keeps investing in security measures.
