Behavioral Biometrics Can Prevent Account Sharing in Gig Economy: BioCatch

BioCatch is advising enterprises to remain vigilant about the unique perils of the gig economy. The company calls particular attention to employees who may be sharing their worker accounts with friends and family members in an effort to maximize the amount of time they can spend on the clock in a 24-hour day.

On that front, BioCatch argues that such behavior does not necessarily imply any ill intent. Many people are struggling for work during the COVID-19 pandemic, and sharing with family members can help bring in extra income when gig work is the only work available. As it stands, gig economy workers are expected to make up 43 percent of the labor force in 2020, a figure that includes 40 percent of all millennials.

Unfortunately, account sharing is still a severe liability issue for companies that need to guarantee the identities of their employees. That’s especially true if those employees have access to sensitive information. Someone who logs into a friend’s account has not gone through training or signed an NDA, which means that the company no longer has any control over who has access to the personal data of their customers.

That exposes the company to potential privacy violations. It can also harm the company’s image, since customers may be far less likely to trust a ride-sharing app if the driver does not match the person in the photo.

BioCatch goes on to present behavioral biometrics as a potential solution to the problem. The company notes that the average household now has 11 connected devices, and it is relatively easy to share devices with other members of the family. That remains true even if those devices are secured with face or fingerprint recognition.

Behavioral biometrics, on the other hand, can passively monitor employee behavior in real time. That will allow companies to spot any anomalies that could indicate that more than one person is using the same employee account.

BioCatch has previously warned that the number of mule accounts has also gone up since the onset of COVID-19. The company recently revealed that it now has more than 150 million behavioral profiles in its records.

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July 10, 2020 – by Eric Weiss