B-FY Introduces Revolutionary Solution to Terminate Online ID Fraud and Cybercrime

News provided by

Sep 09, 2024, 09:00 ET

B-FY's technology provides a foolproof method to identify real operators behind online transactions, ensuring 100% secure interactions.
A solution designed for easy integration with existing cybersecurity and 2FA systems, offering a potential revenue of $145 billion annually by addressing cybercrime losses.

WASHINGTON, Sept. 9, 2024 /PRNewswire/ -- B-FY, a pioneering human authentication company, has unveiled a groundbreaking technology that eradicates online identity fraud and cybercrime. In an era where cybercriminals continue to exploit vulnerabilities in online transactions, B-FY's innovation promises to end this threat by ensuring that only the real operator is identified and authenticated during transactions.

In today's digital landscape, cybercriminals have unchecked control over online transactions, leading to a staggering $14.58 trillion in cybercrime losses this year alone. Traditional methods, such as IDs, passwords, online biometrics, and even two-factor authentication (2FA), fail to truly identify the person behind the transaction, leaving the door wide open for impersonation and hacking. B-FY's technology changes this dynamic by providing a solution that guarantees every transaction is conducted by an identified individual, making it 100% secure.

With this innovative approach, B-FY could save trillions of dollars in cybercrime-related losses. The potential revenue generated by B-FY, based on just 1% of the current $14.58 trillion loss (considering credit card companies charge 2-4% as insurance against cybercrime), could reach an impressive $145 billion annually. Designed to seamlessly integrate with existing 2FA and cybersecurity systems, B-FY offers a shared revenue model that could greatly benefit current security infrastructures.

B-FY Technology:

- Provides a foolproof method to identify real operators behind online transactions, ensuring 100% secure interactions.

- Designed for easy integration with existing cybersecurity and 2FA systems, offering a potential revenue of $145 billion annually by addressing cybercrime losses.

Beyond transaction security, B-FY has the potential to revolutionize social media by supporting only truthful accounts, thereby eliminating fake news, cyberbullying, and cyberstalking. With the current access protocols, the threat of chaos—from planes dropping out of the sky to vote rigging—is real. B-FY's solution can prevent such catastrophic scenarios, offering a safer, more secure digital environment for everyone.

About B-FY

B-FY is a new access protocol that universally identifies clients, eliminates fraud, and protects data privacy. Its Authentication as a Service (AaaS) offering uses the biometric recognition capabilities that mobile devices provide today to reliably identify people. The identification protocol used offers the highest guarantees of data protection and privacy to eliminate identity theft fraud by unequivocally identifying people. More information at www.b-fy.com.

Video - https://mma.prnewswire.com/media/2495041/B_FY_Online_ID_Fraud_Solution.mp4
Logo - https://mma.prnewswire.com/media/2495033/4888356/B_FY_Logo.jpg

SOURCE B-FY