Today, internet users are forced to maintain multiple accounts on various platforms, using numerous logins and passwords, and sharing their personal data with many third parties. With each additional third-party user of personal data, the risk of data leakage grows exponentially, along with the risk that the individual may fall victim to internet fraud or that their acquaintances may become victims of fake information created using stolen data. A person’s online identity and status on the internet are increasingly blurred. It is enough to leave your personal data on a few different platforms to face a significant probability of a data breach over a few years due to a hacking attack on any of them. The compromise of personal data or, worse, the loss of access to your accounts, which may be seized by fraudsters, is particularly dangerous for people whose online identity and status on the internet are the foundation of their well-being and source of income.
Digital platforms are responding to the rise in fraud and cyber threats by tightening security and compliance requirements, including AML/KYC procedures on platforms that handle various transactions or provide financial services. They demand more and more personal data from individuals, with a presumption of guilt by default. If a person is compromised, they may end up on blacklists and will be forced to prove the authenticity of their data and their integrity even to platforms and services they have never used before. This problem is particularly acute when using financial services, where compliance procedures are the most stringent.
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