IDG Contributor Network: Biometrics can provide better data provenance

Imagine these scenarios:

  • Insiders at a financial institution place transactions using e-execution and then deny involvement when trades lose money.
  • Regulated individuals share secrets and collude to fix pricing via messaging services.
  • Fraud occurs through re-diverted funds within Treasury departments.
  • Funds are embezzled or re-directed for personal gain.
  • Confidential data is accessed for market price fixing, front running or gaining market advantage
  • Executives request staff members to access confidential or highly secure content to create a more simplistic briefing process.
  • Data is accessed and leaked for personal benefit.

The common denominator to every one of these scenarios is individuals denying their involvement or abdicating responsibility in a transaction. These types of acts are happening every day across virtually every industry — pharma, finance, the public sector — costing companies incredible amounts of money to investigate and putting operating licenses at risk.

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