Digital Identity for Business Communications:
Demonstrating Legitimacy, Reducing Fraud, and Enabling Verifiable Communications
Executive Summary
Consumer trust in voice and business messaging is in structural decline. GASA estimates that USD442bn was lost to scams worldwide in 2025.12 Similarly, Europol reports that spoofing,
specifically caller ID spoofing, drives financial fraud and enables social engineering scams, resulting in substantial economic and societal damage, with an estimated EUR 850 million lost worldwide annually. Phone calls and texts are primary attack vectors, accounting for approximately 64% of reported cases; in this measure, Caller ID spoofing is the primary enabler of consumer-facing voice and SMS fraud. This is done by deliberately manipulating the
information displayed on a user’s caller ID, often using Voice over Internet Protocol (VoIP) services or 3 apps, to show a false name or number that appears legitimate and trustworthy.
This briefing introduces the concept of digital identity for business communications: a framework in which a business entity can be properly identified, vetted, and issued with Portable credentials that can accompany—and be verified within—every communication it sends. Legitimate organisations benefit because their identity is now provable. Fraudsters lose their ability to impersonate them. Regulators and consumers gain tools to distinguish one from the other.
Using open standards, inclusive approach, with focus on interoperability across ecosystems and without reliance on any single central database or a centralized authority; our proposal puts the well-intentioned communications provider at the centre: driving a pro-competition environment and weeding out scam and fraud on voice and text communications.
