Daily Management Review

U.S. White House: Americans cannot make online payments safely


01/17/2025


According to a press release on the White House website, U.S. citizens cannot securely conduct online transactions, which results in $56 billion lost each year to identity theft fraudsters.



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Alongside, the paper released an executive order from the U.S. president focused on enhancing cybersecurity innovation.

“Right now, Americans lack a safe method for conducting online transactions with a government-issued digital identity card,” states the press release.

As per the report, Americans “lose $56 billion each year due to identity theft,” with the U.S. government experiencing billions in losses from online fraud related to federal programs.

“Large data leaks” are mentioned as causes, along with the shortcomings of online identity verification. The publication highlights that the use of AI technology by fraudsters is exacerbating the situation.

The executive order is expected to encourage the development of digital identity documents and the employment of AI technologies in cybersecurity, among other objectives.

source: cnn.com