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Cybersecurity cannot prevent or stop cybercrime and online ID fraud from becoming the biggest economy on the planet, which has already reached 14.58 trillion dollars per annum, or 40 billion dollars lost every day.
Any cybercriminal on the planet can gain access to any online transaction made at present and to all the trillions of transactions made in the past.
This is because the cyber-access protocol grants access to identified identities—credentials that can be impersonated by any cybercriminal on the planet. The addition of AI, artificial general intelligence, and quantum computing only helps criminals accelerate crime if access is still granted to identified identities. Anonymous users simply cannot be secured, identified, traced, or held accountable.
However, cybersecurity can prevent and stop all cybercrime and online ID fraud by modifying the access protocol to incorporate the B-FY solution. B-FY’s solution grants access only to verified individuals—real people who cannot be impersonated or hacked. It works like an unmanned version of immigration control, ensuring only authentic identities gain access.
Identified identity data, as currently recognized by cyber protocols, can be impersonated, or hacked by any cybercriminal anywhere in the world.
In contrast, immigration processes, which involve transparent access control, reject unauthorized individuals: these processes only grant access to clearly identified people through human supervision. These individuals cannot be impersonated or hacked.
Similarly, B-FY provides access exclusively to identified individuals by developing an electronic equivalent of the manned supervision used in immigration. With B-FY, online identified individuals cannot be impersonated or hacked by anyone.
B-FY is the first company in the market to offer this unique technology through a technology transfer model and white-label branding. B-FY allows major players across multiple industries to become their own Identity Providers, maximizing value and security for their end customers and driving growth and innovation to institutions.