Precise Biometrics releases whitepaper on spoof and liveness detection
Precise Biometrics released a new whitepaper entitled “Spoof and Liveness Detection for the Mobile Biometrics Market”, which offers an introduction to spoof and liveness detection.
Among the topics covered in the whitepaper are how a fingerprints spoof is done, current anti-spoofing solutions, and the standardization efforts taken to discover ways to evaluate spoof detection.
According to Precise Biometrics, mobile payments is expected to be the next “killer application for biometrics and further accelerating the adoption.”
The whitepaper forecasts that the use of biometrics in the financial market will grow at a compound annual growth rate of 50 percent to 2020, accounting for almost a third of the total biometrics market revenues.
In addition, 60 percent of all transactions are projected to be conducted via biometric authentication by 2020 — primarily via fingerprint sensors in mobile devices — which represents an estimated market worth of US$11 billion.
However, fraud and identity theft continues to be a growing threat to the mobile payment market with payment related fraud increasing rapidly.
The paper states that impersonation and deception scams, as well as hacking and malware, are the main vectors in financial fraud in the UK, which totalled 768.8 million GBP (US$1.04 billion in 2016.
Meanwhile, card-not-present fraud, which involves the unauthorized use of credit or debit data to purchase products and services online, saw a combined total of US$5 billion in the US, UK, Canada and Australia in 2016.
The paper pinpointed that identity theft reached an all-time high in the US in 2016, with approximately six percent of US adults falling victim to identity theft. This resulted in a total of US$16 billion in fraud losses, with an increase in incidents of 16 percent year over year.
Banks and large payment services are demanding more secure authentication, while government regulators increase demands on banks for secure authentication on bank accounts and risk mitigation.
The growing use of fingerprint authentication in mobile payments has driven an increased focus on security and fraud prevention, Precise Biometrics said.
The whitepaper describes Precise Biometrics’ software based anti-spoofing solution that is integrated into the company’s fingerprints software Precise BioMatch Mobile, providing a combination of fingerprint matching and anti-spoofing capability for mobile units.
Precise BioMatch Mobile is the main feature in a security suite with products and services for efficient spoof and liveness detection.
The security suite also contains products and services to improve spoof detection capabilities of fingerprint technology, including vulnerability analysis of fingerprint sensors, database collection services, and fingerprint spoof lab.
In June, Precise Biometrics released a new security suite that include fingerprint matching software with spoof and liveness detection, as well as standalone anti-spoof products and services.