“I transferred how much money out of my savings?!”
Trinsic started when our CTO Tomislav Markovski wanted to move from Jersey City into downtown Manhattan. The rental application required several forms of ID, bank statements, employment records, and even investment statements.
Tomislav got a call from his bank a few days later. They were calling to confirm that he indeed wanted to empty his checking account. Wait… what? Tomislav didn’t attempt to drain his account. So who did?
On the internet, all you need to take control of someone’s digital life, including their finances, healthcare data, and more is to know a few things about them. Things like SSN, date of birth, and account numbers are a proxy for our identity, so anyone who knows these things (or bought them on the dark web) can impersonate you.
Luckily, Tomislav was able to stop the fraud. But it begs the question: why are we living in this day and age, but we still use paper documents, username/password systems, and third-party verifications to prove our identities online?