Biometrics to guard against fraud: identification security on the horizon

Citation

(1998), "Biometrics to guard against fraud: identification security on the horizon", Sensor Review, Vol. 18 No. 2. https://doi.org/10.1108/sr.1998.08718bab.005

Biometrics to guard against fraud: identification security on the horizon

Biometrics to guard against fraud: identification security on the horizon

Keywords Biometrics, Trends

Imagine being able to access your ATM account using only your thumb print, or an image of your retina. Banking and credit card institutions are only a few industries currently test-piloting biometrics as a weapon against rising fraud levels. Other applications for biometrics include network or computer security, welfare programme beneficiary identification, drivers licenses, national ID cards, and law enforcement's automated fingerprint identification system.

According to recent strategic research by Frost & Sullivan (www. frost. com), the world biometrics identification markets, specifically the equipment and software markets, are expected to grow from $103 million in revenues in 1996 to $170 million in 2003, a compound annual growth rate of 7.5 per cent over the forecast period. Several factors characterise the current competitive environment of the biometrics industry including market fragmentation, uncertain industry structure, and limited financial resources.

This research provides in-depth analyses of the six major biometric technologies including hand-geometry, fingerprint, retina, voice, face and signature. Forecasts through the year 2003 are given for each individual technology, along with an explanation of key market drivers, issues, and trends. New product and marketing ideas are explored as well as new sales strategies and improvements by competitive benchmarking.

World Biometrics Identification Markets gives revenue and market trends for five major applications (access control/time and attendance, law enforcement, government, network security and financial)in four geographic regions (North America, Europe, Asia Pacific, and Latin America).

According to Roberto Torres, Frost & Sullivan automatic identification industry research analyst: "The underlying driver in the commercial arena is the business community's search for tools which can prevent fraud. Problems stemming from false identification of individuals have seriously hurt the financial industry, government agencies and business establishments for decades".

This automatic identification industry research has integrated the market engineering consulting philosophy into the entire research process. Critical phases of this research included: identification of industry challenges, market engineering measurements, strategic recommendations, planning and market monitoring. All of the vital elements of this system help the market participants navigate successfully through the automatic identification market.