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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
IATA Pushes for Rapid Adoption of Digital Identity Technologies to Enhance Aviation Security and Efficiency
The International Air Transport Association (IATA) is advocating for the rapid adoption of digital identity technologies, such as Verifiable Credentials (VCs) and Decentralized Identifiers (DIDs), to enhance aviation security and operational efficiency. At the Sydney Leaders Week Conference, industry leaders and government representatives from multiple countries emphasized the need for collaboration to integrate these technologies into national and international security frameworks. IATA’s One ID initiative aims to streamline passenger verification by enabling biometric recognition and digital document verification, aligning with global regulatory standards. The association is urging governments to accelerate implementation through regulatory alignment, infrastructure investment, and stakeholder education, with a goal of securing a recommendation at the upcoming ICAO assembly. (Source)
Bumble Introduces Biometric ID Verification to Combat Romance Scams and Enhance User Security
Bumble Inc. has introduced optional biometric ID verification powered by Veriff, allowing users in 11 markets, including the U.S. and UK, to verify their identity by uploading a government-issued ID and a selfie for biometric comparison. Verified users receive profile badges, and the platform now enables filtering for verified profiles, responding to the rise in romance scams reported by financial institutions and law enforcement. This follows a broader industry trend, with Tinder previously implementing ID verification with face liveness detection internationally in 2023 after initially launching in Japan in 2019. Experts emphasize the need for additional security measures, such as ID verification and deepfake prevention, to mitigate the increasing threat of online dating scams. (Source)
European Tech Coalition Calls for Radical Action to Boost Digital Sovereignty and Reduce Foreign Reliance
A coalition of over 100 European tech organizations is urging EU lawmakers to take significant action to reduce dependence on foreign-owned digital infrastructure, advocating for a “Euro Stack” strategy to enhance Europe’s digital sovereignty. In an open letter, they call for changes in public procurement policies to prioritize European-built technology, incentives for private sector adoption, and the establishment of a Sovereign Infrastructure Fund to support local innovation. This push comes amid growing geopolitical tensions and concerns over U.S. Big Tech dominance. Industry leaders warn that without swift action, Europe risks losing digital competitiveness, as foreign hyperscalers gain control over cloud computing and critical tech infrastructure. The coalition emphasizes the need for open-source solutions, common standards, and government-backed investments to secure Europe’s digital future. (Source)
Greece Launches Kids Wallet App For Parental Controls And Digital Age Verification
Greece is launching the Kids Wallet app to enable parental controls and age verification for minors through the national TaxisNet system. Parents can manage app usage, set time limits, and block specific applications. This initiative aligns with the EU’s efforts for standardized digital identity wallets under the EUDI Wallet program and eIDAS 2.0 regulation by 2026. Greek officials, including Digital Governance Minister Dimitris Papastergiou, are pushing for a “digital majority age” of 15 and mandatory parental controls on internet-connected devices. There is a growing consensus that self-declared age verification is ineffective, highlighting the need for stricter protections for minors. (Source)
đź’° Investments and Partnerships
Fiserv Acquires CCV to Expand Clover Platform Across Europe
Fiserv has acquired Dutch payment solutions provider CCV to expand its Clover platform across Europe. CCV, which serves around 600,000 businesses in the Netherlands, Belgium, and Germany, provides transaction processing, online payments, acquiring services, and payment terminals. The acquisition aims to accelerate Clover’s deployment and integrate CCV’s merchant base with Fiserv’s financial services ecosystem. Clover, originally acquired by First Data in 2012, became part of Fiserv after its $22 billion acquisition of First Data in 2019. This deal follows Fiserv’s recent agreement to acquire Canadian earned wage access provider Payfare for $147 million. (Source)
Utila Inc. Raises $18 Million to Scale Institutional MPC Wallet Infrastructure
Utila, a digital asset operations platform startup, has raised $18 million in Series A funding to scale global operations and enhance its institutional multiparty computation (MPC) wallets. Founded in 2022, Utila provides enterprise-grade MPC wallets that distribute private key operations across multiple parties for enhanced security. The platform includes a robust policy engine for transaction management, supports integrations with AML services and banking, and features a tokenization engine for secure asset transfers. As stablecoin adoption grows, Utila aims to lead institutional-grade wallet infrastructure for real-world financial applications. Led by Nyca Partners, the funding brings Utila’s total raise to $35 million. (Source)
Alphabet Acquires Wiz For 32 Billion To Boost Cloud Security
Google’s parent company, Alphabet Inc., has agreed to acquire cybersecurity startup Wiz for $32 billion in an all-cash deal, marking its largest acquisition to date. Previous negotiations for a $23 billion deal in 2023 fell apart due to concerns over regulatory hurdles and other issues. Wiz, founded in 2020, specializes in cloud security and has partnerships with major cloud providers, including Amazon, Microsoft, and Google. The acquisition is expected to strengthen Google Cloud’s security capabilities as it competes in a growing market driven by the needs of artificial intelligence companies. Regulatory scrutiny is likely, as Google is already facing multiple antitrust lawsuits and broader concerns over merger approvals in the tech industry. (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)
Varonis Acquires Cyral To Strengthen Data Security Capabilities
Varonis Systems Corp has acquired Cyral (acquired by Varonis), a database activity monitoring (DAM) provider, to strengthen its data security capabilities. Cyral’s cloud-native technology offers agentless and stateless interception, addressing challenges associated with traditional DAM solutions. The acquisition aligns with the growing demand for database security as cloud adoption and AI-driven data processing expand. Varonis aims to integrate Cyral’s capabilities into its platform to enhance protection for structured and unstructured data. The deal is not expected to significantly impact Varonis’ revenue this year. (Source)
Halliday Raises $20 Million In Series A Led By Andreessen Horowitz
Halliday, a blockchain payments company, has raised $20 million in a Series A funding round led by Andreessen Horowitz. The company provides financial institutions with tools to automate services using blockchain and AI, including its Agentic Workflow Protocol, which simplifies the integration of financial workflows. Halliday plans to use the funding to accelerate product deployment and expand its team but did not disclose its latest valuation. Other investors in this round include Avalanche Blizzard Fund, Credibly Neutral, and Alt Layer. (Source)
Nordic Email Service Kivra Acquires Digital ID Firm Truid to Boost Identity Wallet Capabilities
Kivra, a Nordic email service, has acquired Swedish digital ID firm Truid to bolster its identity wallet features in line with the EU Digital Identity Wallet initiative. With over 6 million users in Sweden and Finland, Kivra enhances digital communication between citizens, companies, and government agencies. The acquisition adds Truid’s eIDAS-compliant identity verification and digital signatures to Kivra’s platform, allowing secure data sharing. Truid’s team will join Kivra, supporting its expansion into digital identity solutions. Kivra expects increased adoption in Finland as the government moves toward digital messaging. (Source)
World Wide Technology Acquires Softchoice In $1.3 Billion Move For AI And Digital Transformation
World Wide Technology (WWT) has acquired Softchoice for US$1.3 billion, enhancing its software, cloud, cybersecurity, and AI capabilities. This acquisition broadens WWT’s reach into the Canadian market and small to medium-sized businesses in North America. Softchoice will maintain its name and leadership while accessing WWT’s Advanced Technology Center and AI Proving Ground. This move supports WWT’s US$500 million investment in AI over the next three years, strengthening their ability to provide advanced AI solutions and digital transformation strategies globally. (Source)
Hawcx Secures $3 Million Pre-Seed Funding To Advance Passwordless Authentication
Hawcx, a cybersecurity startup focused on passwordless authentication, has raised $3 million in pre-seed funding led by Engineering Capital and Boldcap. Founded in 2023, the company aims to eliminate password-related security vulnerabilities, which account for over 86% of global data breaches, by offering a simple integration solution. Emerging from stealth in April 2024, Hawcx plans to use the funding to accelerate product development, expand its team, and scale marketing efforts. Their vision is to enhance security and usability in passwordless authentication while reducing operational complexity for businesses. (Source)
Synctera Raises $15 Million To Expand BaaS Offerings And Secure Major Fintech Partnerships
Synctera, a Banking-as-a-Service (BaaS) provider, has raised $15 million in a funding round co-led by Fin Capital and Diagram Ventures, bringing its total funding to $94 million. The company announced Bolt, a fintech known for one-click online checkouts, as its largest customer and has formed new partnerships, including with Unified Signal. The investment will help Synctera scale for larger clients and enhance its services, supported by a partnership with Hawk for improved compliance and risk management. Investors are optimistic about Synctera’s innovative approach and ability to navigate regulatory challenges while expanding its customer base. (Source)
⚖️ Policy and Regulatory
OpenAI Faces GDPR Complaint Over ChatGPT’s False Claims and AI-Generated Misinformation
OpenAI is facing a privacy complaint from the advocacy group Noyb in Europe, alleging that ChatGPT generated false information about a Norwegian individual, wrongly claiming he was convicted of murdering his children. The complaint raises concerns about OpenAI’s compliance with the EU’s GDPR, which mandates the accuracy of personal data and individuals’ rights to correct inaccuracies. Noyb argues that OpenAI’s current disclaimers do not fulfill GDPR requirements. While previous regulatory actions in Italy have prompted changes, investigations by other European authorities are still ongoing. The complaint aims to push for stronger regulatory actions against AI-generated misinformation and the reputational harm it can cause individuals. (Source)
PSEA Cyberattack Exposes Personal and Financial Data of Over 500,000 Members
Over 500,000 members of the Pennsylvania State Education Association (PSEA) had their personal and financial data stolen in a cyberattack on July 6, 2024, with the breach confirmed in February 2025. The stolen information includes names, Social Security numbers, bank account details, payment card info, passwords, and medical records, raising concerns about identity theft and fraud. PSEA reported the breach to law enforcement and offered affected individuals 12 months of free credit monitoring and identity theft protection.(Source)
Honda Fined $632500 For CCPA Violations And Mandated Business Practice Revisions
The California Privacy Protection Agency (CPPA) fined American Honda Motor Co. $632,500 for violating the California Consumer Privacy Act (CCPA). Honda was accused of making it hard for consumers to exercise their privacy rights, requiring excessive personal information for opt-out requests, and improperly sharing data with advertising firms. In response, Honda will simplify its privacy processes, certify compliance, train employees, consult a user experience designer, and update contracting procedures. The fine reflects Honda’s cooperation, while the CPPA reaffirmed its commitment to privacy enforcement for Californians. (Source)
UK Online Safety Act Enforcement Targets File-Sharing Platforms Over CSAM Risks
As the U.K.’s Online Safety Act (OSA) enforcement begins, internet watchdog Ofcom has launched a new program targeting online storage and file-sharing services for their role in the spread of child sexual abuse material (CSAM). Ofcom warns that these platforms are particularly vulnerable to misuse and has notified several services, without naming them, that they will soon receive formal requests for information on their CSAM prevention measures and risk assessments. Non-compliance with the OSA could result in penalties of up to 10% of global annual turnover. (Source)
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