This article aims to identify the sentiments pushing forward with the need for digital ID and what the risks are that drive fear around its implementation.

The concept of personhood has evolved through the digitisation of our everyday lives. This has led to a pressing need for robust frameworks that safeguard individual identities.

A Digital ID Wallet is a secure way to store and manage identification credentials electronically, accessible via smartphones or digital devices. It reduces the need for physical documents by consolidating IDs like driver’s licences or passports in one place.

The AML/CTF Amendment Bill 2024 is set to bring significant changes for small to medium-sized businesses, especially those in newly covered sectors like legal, accounting, real estate, and precious metals and stones dealing.

In September 2024, the Attorney-General introduced the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Amendment Bill 2024 into Parliament. This Bill represents a significant advancement in protecting the community from financially enabled crime.

Incorporating a cloud-based KYC solution like VerifiMe into your legal practice’s onboarding program not only enhances efficiency but also ensures compliance with upcoming AUSTRAC reporting requirements.

VerifiMe is a shareable digital identity platform that allows individuals and organisations to verify their identity securely online, using a digital wallet created with official documents. It enhances privacy and convenience by minimising repetitive sharing of documents, reducing identity theft risks, and improving user verification processes with consent-based sharing of information.

VerifiMe supports the recent passing of the Digital ID Bill 2023 and the expansion of the myGovID network, viewing it as a crucial step towards providing a safe and simplified identification method for individuals and organisations.

The landscape is shifting identity verification towards portable, user-controlled digital IDs, addressing the need for efficient, secure transactions. Innovations from companies like Apple and programs like the Australian government’s “myGovID” exemplify the transition away from traditional, inefficient methods.

Self-Sovereign Identity and Customer Controlled Compliance are proposed to give users control over their personal data, addressing the security and efficiency flaws in current identity management systems.

Explore the potential of digital ID in simplifying access to services and enhancing personal data control, advocating for decentralised, privacy-centric solutions that prioritise user control, security, and interoperability to protect personal data.

Identity is crucial because it shapes the way we see ourselves, how we interact with others and our place in society. It is tied to our sense of self-worth and self-esteem.