In an increasingly digital world, electronic identity validation has become a fundamental pillar for ensuring security and trust in online transactions. Europe is at the forefront with eIDAS 2 (Electronic Identification and Trust Services Regulation), an update that promises to transform how we interact with digital services. This model also offers important lessons for regions like Mexico and Latin America, where identity fraud is an urgent issue that needs to be addressed.
What is eIDAS 2?
eIDAS 2 is an evolution of the European regulation implemented in 2014 and due to come into effect in May 2024. It is designed to standardize electronic identification and trust services across the European Union. Among its key innovations is the introduction of the European Digital Identity Wallet, which allows citizens to securely store and manage personal information, credentials, and attributes.
Main objectives of eIDAS 2
Interoperability: ensuring that digital identities are valid and functional in all EU Member States.
Reinforced security: Enhance protection against fraud and cyber threats with multiple authentication and advanced encryption technologies.
Universal access: Facilitate the use of digital identities in a wide range of services, from banking to government procedures.
Impact in Europe
With eIDAS 2, Europe seeks to consolidate its position as a global leader in digital security. Adopting this system is intended to reduce identity fraud, which affects millions of people each year. It also simplifies processes for companies operating in multiple countries, removing regulatory barriers and improving the user experience.
A European Commission study highlights that eIDAS 2 could save European consumers up to €20 billion annually in administrative procedures and protect personal data more effectively.
Identity fraud in Mexico and Latin America
In contrast, Mexico and Latin America face serious problems related to identity validation. According to Condusef (National Commission for the Protection of Identity Theft), more than 35,000 cases of identity theft were recorded in Mexico in 2023, an increase of 181% compared to the previous year. This fraud occurs mainly through: Fraudulent phone calls: 43.2% of cases are related to identity theft through calls purporting to be from financial institutions.
Fake text messages and emails: 22.2% of victims are tricked with links to fake portals.
SIM spoofing fraud (SIM swapping): A growing threat that facilitates unauthorized access to bank accounts and personal data. Last year, 133,453 cyber incidents were reported, the most common being harassment and extortion. Latin America also faces challenges in the adoption of electronic identification technologies. A report by the OAS and the IDB indicates that only 581,000 countries in the region have fully functional digital identity systems.
What can Latin America learn from eIDAS 2?
The implementation of eIDAS 2 offers valuable lessons for Mexico and other countries in the region: one of these is unified regulation, where a common framework can be adopted that enables interoperability between institutions and countries.
There are other aspects that will undoubtedly need to be taken into account, such as raising user awareness about the risks of fraud and how to protect their personal information.
Finally, understand that public-private collaboration provides an opportunity to foster alliances between governments, financial institutions, and technology companies to develop innovative solutions for a future that, more than ever, must be supported by technology. eIDAS 2 is revolutionizing identity validation in Europe, establishing a security and efficiency standard that could be adopted globally. For Mexico and Latin America, where identity fraud continues to rise, it is an opportunity to modernize their systems and better protect their citizens in the digital environment.
Contact us now and discover how to integrate this innovative technology into your operations.