FIMPE guarantees the continuity of its identity generation and verification services during the health emergency.
Analysts warn that frauds like the one exposed by Banco del Bienestar will become increasingly common.
Our goal is to strengthen the use of biometric technology for companies that require authentication of the identity of their clients, users, or beneficiaries of social programs.
FIMPE, an institution created to extend the benefits of access to electronic payment infrastructure to society, announced that despite the COVID-19 health alert, it continues to execute procedures and processes with its clients and suppliers remotely, with infrastructure and platforms that allow it to operate while safeguarding the integrity and health of its employees and technology partners. This was explained by its General Director, Georgi Nikolov Popov, who also stated that they are closely monitoring threats from fraudsters who could take advantage of the coronavirus crisis.
The company warned that frauds like the one exposed by Banco del Bienestar, where fake messages and pages promise to process welfare cards with supposed financial support, are a threat. Only biometric technologies can address the potential frauds and scams that accompany this type of crisis, in addition to the intention to reach 22 million beneficiaries, according to the presidential report released on April 5.
“Our goal is to use biometric technology to strengthen companies that require authentication of the identity of clients, users, or beneficiaries of social programs. We are facing an uncertain scenario where technology becomes a critical factor for the continuity of government, business, and social welfare operations,” company analysts noted.
For 10 years, FIMPE was responsible for operating the only social program to date that used fingerprint biometrics to authenticate beneficiaries, preventing identity theft and making support delivery processes transparent. It is currently seeking to revive this success story in sectors such as banking, government, healthcare, and other countries. The various problems associated with identity theft, like the COVID-19 pandemic, are a global issue that is also prevalent and finds fertile ground in crises like the one we are experiencing today with this disease.
As part of the risk analysis for the coming months, it was stated that some initiatives, such as that of the National Banking and Securities Commission (CNBV) to install fingerprint readers in the 51 banks operating in Mexico, should be scaled to other sectors of the financial ecosystem, such as Fintechs, Sofoles, Sofomes, etc., to avoid risks when opening accounts and applying for certain credit products and thus prevent the crime of identity theft from spreading to these sectors.
“The use of biometric data will become increasingly common in the lives of citizens. Today, it is banks, and little by little, different business and government sectors will join in to prevent identity theft, which generates millions in losses annually. In the financial sector alone, losses reached $2.216 billion pesos in the first half of 2019. It is everyone’s responsibility to ensure that technology is a tool to mitigate the risk of identity theft,” the executive concluded.
https://www.efe.com/efe/america/comunicados/el-fimpe-advierte-la-posibilidad-de-fraudes-y-robo-identidad-derivados-crisis-sanitaria-del-covid-19/20004010-4215934
