Identity verification and proof of identity is a requirement for many facets of daily life in Korea, including registering for a bank account, ecommerce, a variety of online transactions and accessing government services. Expanding GlobalGateway’s identity verification coverage to include citizens establishes a layer of trust online and prevents proceeds of crime such as money laundering, tax evasion, terrorism and weapons financing.
Transforming the identification verification systems is a welcome move as the Republic of Korea considers overhauling its decades old ID system following 10 years of data thefts, including a massive data breach that affected over half of the country’s 50 million citizens, with over 200 million personal identity records stolen in 2014.
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