Tag: mobile_driver_s_licenses
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FinCEN Issues Guidance on Using Digital Credentials for Customer Identity Verification
FinCEN and other agencies clarify that banks and credit unions can use verifiable digital credentials, like mobile driver's licenses, for customer identity verification under the CIP Rule, provided certain conditions are met.
BusinessPolitics and GovernmentScience & TechnologyFederal GovernmentBankingComputers and InternetLegal FinCENVerifiable Digital CredentialsCustomer Identification ProgramMobile Driver's LicensesIdentity VerificationFinancial InstitutionsRegulatory GuidanceFinancial Crimes Enforcement Network
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Financial Regulators Issue Guidance on Digital Credentials for Customer ID
Federal financial regulators, including the OCC and FinCEN, issued FAQs on using mobile driver's licenses and other verifiable digital credentials. This guidance clarifies their treatment under the Customer Identification Program Rule for BSA/AML compliance.
BusinessPolitics and GovernmentLaw EnforcementFederal GovernmentBankingLegalEconomy OCCFinCENVerifiable Digital CredentialsMobile Driver's LicensesBank Secrecy ActAnti-Money LaunderingCustomer Identification ProgramOffice of the Comptroller of the Currency (OCC)
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DHS S&T Tackles Digital Identity Fraud with Next-Gen Biometrics and AI
DHS Science and Technology Directorate experts discuss the future of online identity verification, combating digital fraud with mobile driver's licenses and AI. They highlight challenges in current systems and S&T's efforts to build secure, privacy-preserving digital credentials for a safer…
Science & TechnologyPolitics and GovernmentBusinessComputers and InternetArtificial IntelligenceFederal GovernmentLegalSocial Issues DHSScience and Technology DirectorateIdentity VerificationDigital FraudBiometricsMobile Driver's LicensesU.S. Department of Homeland Security