Reconnaissance International has produced a new whitepaper on the implications of the transition from physical to digital security for financial transactions and ID document security.
Physical to Digital: A Revolution in Document Security notes that whilst protection and security were primary drivers in the physical document world, the digital world is less concerned with such matters and that as a result the incidence of payment card fraud in the Eurozone is over 300 times bigger than the number of euro banknotes that are counterfeited.
Ian Lancaster, lead author of the report and former managing director of Reconnaissance International, urges caution and advises people working on digital finance and digital ID to put data and personal security at the heart of this new world.
He said: “A digital revolution is taking place. We are moving from a world in which people can examine and inspect a document to check its legitimacy to one in which we are required to trust that a device, such as our smartphone, is doing what we think it’s doing. Is the data it’s using accurate and secure and is the decision it leads us to make correct and appropriate? Throughout all the issues and considerations this raises, we must ask the question: does digital make us and our data safe and secure?”
A copy of Physical to Digital: A Revolution in Document Security is available to download at: