Industry News

MIT professor: Electronic notary laws needed to combat fraud

White paper calls for strategy to stem identity, mortgage fraud

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A newly published white paper prepared by a Massachusetts Institute of Technology professor is calling for quick action by government, industry and professional associations to provide a "sound strategy" for e-notarization to help stem the rising tide in forgeries and frauds in identity, mortgage and immigration transactions. The paper reveals the importance of providing secure authentication and effective electronic transactions for e-commerce in the burgeoning digital age. In the paper, "Electronic Notarization: Why It's Needed, How It Works, And How It Can Be Implemented To Enable Greater Transactional Security," published by the National Notary Association, Daniel J. Greenberg, director of MIT's E-Commerce Architecture Program, outlines the legal and technological issues that must be addressed to ensure convenient and secure e-commerce in an era of rising document forgery and identity fraud. Such crimes interfere with the orderly conduct of business and threaten individual prope...