A UK scale-up this week unveiled an industry-first approach to identity verification: asking users to turn their heads. Onfido, an Oxford University spin-out, launched the software amid surging identity fraud. Growing economic pressures, increasing digitization, and pandemic-fuelled upheaval recently led politicians to warn that a fraud epidemic is sweeping across Onfidos home country of the UK. Similar developments have been observed around the world. In the US, for instance, around 49 million consumers fell victim to identity fraud in 2020 costing them a total of around $56 billion. These trends have triggered a boom in the ID verification market.…
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