How to Reduce Online Fraud

The National Institute of Standards and Technology awarded Pennsylvania a $1.1 million grant as part of the National Strategy for Trusted Identities in Cyberspace,
(NSTIC,) a public-private initiative to seek ways to create a so-called identity ecosystem that lets individuals choose from an array of credentials to transact business online. They are launching a development to protect its state’s residents from fraud.

In a recent interview with the State Information Security Media Group (CISO), Avakian says, "This is really going to enable convenient, secure, privacy-enhancing online transactions for our customers.This grant is going to enable secure online transactions which should also reduce fraud.”

As always, some citizens are upset that so much money was granted to CISO to prevent online fraud. I am proud of PA for recognizing how severely dangerous online fraud, identity theft and hacking has become. With everything taking place online in today’s world, any steps we can take to be more secure and prevent fraud are crucial.

In the interview, Avakian discussed how the pilot project:

·         Is set up to help reduce fraud for businesses and consumers, with research to back-up software systems which will prevent fraud and provide more accessible trust seals and security scans.

·         Will “piggyback” on existing enterprise directory services that provide single identities to state employees. This will decrease identity theft.

·         The grant will also benefit and employ outside identity verification services.

More states should take a stand against identity theft and hackers and make a difference to prevent online fraud. You don’t even have to spend $1.1 million, like the State of Pennsylvania, all it takes is raising a little awareness.