Fraud Protection
Fraud-related crime seems to be escalating out of control and in 2023 the number of crimes increased by 21.9% compared to 2022. The Swedish Prime Minister has called on the banks to make them increase efforts to protect their customers, but few concrete proposals have been heard.
Is there a solution in sight? Yes, Freja has several functions that protect against fraudsters.
Extra Biometric Verification
When identifying yourself or making an e-signature, the ‘key’ is your mobile device in combination with your Freja PIN code. This PIN can be generated via your mobile’s facial recognition or fingerprint function (biometrics).
But if someone gets control of your mobile and your PIN, they can unfortunately do everything you can with your e-ID. Freja solves this issue with adding an extra layer of biometric verification to regular biometric verification.
When Can the Protection Be Used?
As the name suggests, biometrics are not something you normally use in every transaction – using it for login could be considered overkill. The idea is that the extra verification should be able to be added when higher security is desired for certain sensitive transactions, for example transferring a larger amount of money or ordering a credit card.
Requesting the extra verification randomly once in a while is also an option, even for less sensitive transactions. Where this could be useful is in KYC, regularly getting confirmation that the right user has access to your e-services.
For example, people ‘lend’ their e-ID to gambling accounts so that professional bonus hunters can play on their behalf.
In this way, gambling companies risk their licence by not ensuring that the person using their service is the account holder.
How Does Extra Verification Work?
During the extra verification, the Freja app asks the user to take a selfie which is then compared to the verified image we have from registration. If it is the right person, the transaction goes through, otherwise the transaction is denied.
So this is not the same face recognition that is normally done because it only happens locally in the phone to unlock the PIN code.
How Is this Integrated into My Service?
Extra biometric verification is an additional service that you activate simply by adding the functionality to your agreement. Contact your Freja representative or send an email to sales@frejaeid.se and we will help you get started.
User-Enabled Security Features
Freja also offers several smart security functions that the user controls themselves, but which you as a Relying Party can ask them to use.