Swedish relying parties can now detect potential high-risk transactions using risk signals
Online fraud and remote authentication by the wrong person are prevalent fraud scenarios today. Ensuring that transactions are authenticated by the correct individual in a user-friendly way is a cornerstone of BankID’s success. „To make it easier for companies and authorities to increase the security of their services and protect their end-users, we have launched the possibility to request risk indication from our platform. ” – according to the press release.
„The indication is based on a number of security controls aimed at reducing the risk of fraud and protecting those who use their BankID to access private and public digital services. The relaying party will receive a weighted risk value from the security check and can decide how BankID respond to these signals. Either by solely providing information for the relying party to act on, or automatically cancel high-risk transactions.” – the company explained.
How the relaying party should act on the risk value they receive depends on the combined result of their own risk analysis and the risk indication from our platform, as well as on the nature of the business.
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