Liminal members enjoy the exclusive benefit of receiving daily morning briefs directly in their inboxes, ensuring they stay ahead of the curve with the latest industry developments for a significant competitive advantage.
Looking for product or company-specific news? Log in or sign-up to Link for more detailed news and developments.
Here are the main industry highlights of this week impacting identity and fraud, cybersecurity, trust and safety, financial crimes compliance, and privacy and consent management.
🪄Innovation and New Technology Developments
Taiwan Unveils Digital Identity Wallet Prototype as Thailand Advances Economic Relief Initiative
Taiwan has introduced a prototype for its digital identity wallet, with plans for a nationwide rollout by year-end. The Ministry of Digital Affairs aims to enhance citizens’ data control, starting with a trial focused on ID verification for package collection. The wallet will eventually store digital national IDs, health cards, driver’s licenses, and more. Meanwhile, Thailand approved phase three of its digital wallet scheme for economic relief to 2.7 million citizens, though it faces political criticism regarding effectiveness and costs. (Source)
Philippines Advances Digital ID and Fiber Expansion Amid Leadership Change
The Philippines has registered 84 million people for its national digital ID, used in 100 million transactions across various services. Former DICT Secretary Ivan John Uy, who oversaw the ePhilID rollout, resigned last week. Meanwhile, officials are attending MOSIP Connect 2025 in Manila. The National Fiber Backbone’s first phase has provided high-speed internet to 14 provinces, with plans for completion by mid-2025. The country secured a $288 million World Bank loan to expand fiber infrastructure and aims for 60% household internet connectivity by 2028. (Source)
Pakistan Launches Digital Identity Card for Smartphones via Pak ID App
Pakistan’s National Database and Registration Authority (Nadra) has introduced the first “dematerialised digital identity card,” allowing citizens to store IDs on smartphones using the Pak ID app. This initiative aims to enhance digital identity management and will be followed by a digital verification system, with a pilot launch set for Independence Day 2025. The announcement coincided with Nadra’s 25th anniversary celebration, which included the unveiling of a commemorative coin, postage stamp, and a historical book. This project is expected to improve identity verification and accessibility for citizens, especially in remote areas and abroad. (Source)
đź’° Investments and Partnerships
Thales Secures $21.3M Contract to Modernize Switzerland’s Fingerprint Identification System
Thales has secured a $21.3 million contract to modernize Switzerland’s Automated Fingerprint Identification System (AFIS) for the Federal Office of Police (Fedpol) through 2042. The current system will be replaced by mid-2027 and includes an optional facial image comparison module. Swiss law prohibits facial recognition for real-time video analysis and social media integration. The contract also covers future development, training, extended maintenance, and third-level support for AFIS and the facial recognition module. (Source)
Cybereason Secures $120 Million Investment Led by SoftBank and Appoints Manish Narula as CEO
Cybereason, a global cybersecurity company specializing in endpoint detection and response (EDR), has secured a $120 million investment led by SoftBank Group Corp. and Liberty Strategic Capital to support its expansion. Manish Narula has been appointed as the new CEO to guide the company’s growth. Additionally, Cybereason is strengthening its partnership with Trustwave instead of pursuing a merger. Headquartered in California, the company offers EDR solutions and consulting services in 40 countries. (Source)
Pentera Raises $60 Million in Series D, Reaching $1 Billion Valuation to Expand Automated Security Validation
Pentera, a Boston-based cybersecurity startup, has raised $60 million in Series D funding led by Evolution Equity Partners, valuing the company at over $1 billion. The funds will support M&A and product development. Pentera’s platform automates security validation by simulating cyberattacks to identify exploitable vulnerabilities, helping organizations improve their security posture. The company has grown its customer base by 200% to 1,100 organizations and tripled its ARR in four years. It has received a total of $190 million in funding from investors like Insight, K1, and Blackstone. (Source)
ServiceNow Acquires Moveworks for $2.85 Billion to Boost AI and Automation
ServiceNow is acquiring Moveworks for $2.85 billion, with the deal expected to close in the second half of 2025. Founded in 2016, Moveworks offers AI-driven automation tools for enterprise support and was valued at $2.1 billion in 2021. The acquisition aligns with ServiceNow’s focus on AI and automation, as both companies share customers and complementary technologies. Moveworks, which raised over $300 million and serves clients like Unilever and Toyota, enhances ServiceNow’s AI capabilities, following its recent acquisition of Cuein. (Source)
Sola Secures $30 Million to Simplify Enterprise Cybersecurity with Low/No-Code Platform
Sola, an Israeli startup, has created a low/no-code platform for enterprises to develop custom cybersecurity applications tailored to their needs. Designed for organizations with limited security expertise, it enables building or integrating security tools without deep technical knowledge. Sola raised $30 million in seed funding, aiming to bridge the gap between costly security solutions and open-source alternatives. Utilizing AI and big data, the platform automates security processes and offers pre-built apps for common functions across cloud environments, simplifying security management at a lower cost. (Source)
Forcepoint Acquires Getvisibility to Strengthen AI-Driven Data Security and Compliance
Forcepoint has agreed to acquire Getvisibility to enhance its Data Security Everywhere platform. This integration will improve real-time risk detection, automated response, and compliance enforcement through Getvisibility’s AI-driven Data Security Posture Management (DSPM) and Data Detection and Response (DDR) capabilities. It builds on their existing partnership, improving interoperability and simplifying data security management for enterprises. More details on the integration will be shared later this year. (Source)
American Express Acquires Expense Management Firm Center to Enhance Corporate Card Integration
American Express (Amex) will acquire Center (getcenter.com), a US-based expense management software provider, for an undisclosed amount. Founded in 2017 and located in Bellevue, Washington, Center offers corporate card integration and expense management solutions. Amex aims to integrate Center’s software with its corporate and small business cards to improve expense tracking and compliance. The acquisition is set to close in the second quarter of 2025, pending standard conditions. This follows Amex’s October 2024 acquisition of UBS’s stake in Swisscard AECS, granting it full ownership of the Swiss credit card provider. (Source)
Armis Acquires Otorio for $120 Million to Strengthen Industrial and Physical Security
Armis is acquiring Otorio for $120 million to boost its security capabilities in industrial environments. Otorio’s Titan product will be integrated into Armis’ Centrix platform, allowing a broader focus beyond cloud security. As industrial machines become more connected and vulnerable to cyber risks, this addition is strategic. This marks Armis’ third acquisition in a year, highlighting a trend of larger cybersecurity firms acquiring smaller startups amid changing investment conditions. (Source)
Corsair Capital Acquires Majority Stake in IDnow for $295M to Expand Digital Identity Verification
Corsair Capital Corp has acquired a majority stake in IDnow, a Munich-based identity verification provider, for $295M (€273M) in an all-cash deal. Having previously invested in 2019, Corsair has witnessed IDnow’s growth, including two acquisitions and an enhanced digital identity portfolio. IDnow is a leader in biometric identity verification in Germany and France, and the acquisition aims to strengthen its platform and market presence, marking one of the largest fintech exits in Germany in recent years. (Source)
Riskified Explores Potential Sale Amid Takeover Interest and Stock Decline
Riskified, a fraud prevention software firm, is considering a sale after receiving acquisition interest, as its stock has dropped over 80% since 2021. Potential buyers include payment processors, eCommerce platforms, and private equity firms. For Q4 2023, Riskified reported an 11% revenue increase but a net loss of $4.1 million. The company recently launched Adaptive Checkout and partnered with Ixopay to improve fraud prevention. There has been no comment regarding the sale discussions, which are in early stages. (Source)
CISA Fires Over 130 Cybersecurity Specialists, Raising National Security Concerns
Over 130 probationary employees at CISA, including cybersecurity specialists, were suddenly fired last month. Many were recruited through the Cyber Talent Management System (CTMS) and included key personnel like threat hunters and disabled veterans. Lawmakers and experts warn that these cuts jeopardize national cybersecurity, while the Trump administration claims it’s an effort to reduce inefficiency. Some former employees are looking for private-sector jobs, while others hope to be reinstated amid ongoing legal challenges. (Source)
⚖️ Policy and Regulatory
Treasury Department Pauses Enforcement of Corporate Transparency Act for U.S. Entities
The Treasury Department has paused enforcement of the Corporate Transparency Act (CTA) reporting requirements for U.S. citizens and domestic companies, rendering the March 21, 2025, filing deadline irrelevant. Future enforcement is expected to focus on foreign reporting companies, but it’s unclear if this applies to foreign individuals with interests in domestic firms. While enforcement is on hold, the CTA remains in effect, and any changes would need congressional approval. No timeline for new rules has been provided, so businesses should stay updated on potential adjustments. (Source)
Singapore Court Grants Bail to Three Men Accused in $390M Nvidia Chip Fraud Case
A Singaporean judge granted bail to three men accused of deceiving suppliers about the location of servers containing restricted Nvidia chips. The suspects allegedly defrauded Dell and Super Micro, involving transactions worth about $390 million with Singaporean companies. Bail was set at S$800,000 ($600,000) for the two Singaporean men and S$1 million for the Chinese national, with the next court hearing on May 2. Prosecutors requested an eight-week delay for investigations and imposed conditions including travel restrictions and electronic monitoring for the Chinese national. The case raises concerns over Nvidia chip exports, as companies like China’s DeepSeek continue to access them. (Source)
NTT Communications Cyberattack Exposes Data of Nearly 18,000 Corporate Customers
NTT Communications (NTT Com) experienced a cyberattack in February, compromising data from 17,891 corporate customers. Unauthorized access exposed names, contact details, and service usage information. The company has not disclosed the number of affected individuals or specific organizations. After detecting the breach on February 5 and restricting access, further compromise of another device was discovered. The attackers remain unidentified, and no major ransomware group has claimed responsibility. (Source)
DOJ Presses Google to Divest Chrome but Eases Stance on AI Investments
The DOJ is urging Google to divest its Chrome web browser, a proposal first made during the Biden administration. However, it has dropped demands to sell AI investments, opting instead for prior notification of future AI deals. The DOJ continues to oppose Google’s search-related payments to partners but will leave Android’s divestiture decisions to the court. This follows a ruling that found Google had an illegal search monopoly, which the company plans to appeal. Google argues that the DOJ’s proposals go beyond the court’s ruling and could harm consumers and the economy. (Source)
đź”— More from Liminal
Access Our Intelligence Platform
Stay ahead of market shifts, outperform competitors, and drive growth with real-time intelligence.
Benchmarking the Leading Vendors in Age Estimation & Age Verification
New reports provide a detailed analysis of market trends, vendor capabilities, and compliance challenges.
That’s a wrap on the 2025 event! Interested in joining us next year? Share your interest at the link above and stay tuned for updates on upcoming events.
