We often take digital identity for granted… We create accounts all over the Internet for various services, but rarely think about the information that sits in a server for every company we interact with. Furthermore, we rarely think about the potential for fraud related to those identities and how that potential threat impacts finance or military defense businesses. That’s why, when it comes to crucial industries, digital identity verification is necessary.
Discussions about security and compliance disproportionately focus on businesses and enterprises, precisely because these organizations serve as central repositories for critical industrial or consumer information. Accordingly, regulations and best practices are often tied to securing this infrastructure, with consumers getting little to no attention.
However, the reality of modern cybersecurity threats is that almost all major security breaches are related in one way or another to social engineering–that is, the manipulation of people to breach data systems. Unfortunately, that doesn’t seem like it is changing any time soon.
The federal government has strict and comprehensive regulations on how agencies handle constituents’ personal information. This is just as true for tax information. The IRS leans on established guidelines associated with federal security to dictate regulations for agencies that handle tax information and, by and large, treats that information as a sensitive and critical part of operations. These guidelines are housed in the robust regulatory document called IRS 1075.