There are several stringent regulations and policies in Europe, North America, and Asia Pacific countries, such as GDPR, SOX Act, SOC2, Know Your Customer (KYC), and Anti-Money Laundering (AML). These set of regulations and policies are meant to protect individuals and organizations from cybercrime activities, such as identity theft, password breaches, credential compromises, ransomware, and digital fraud, and mandate the incorporation of advanced security solutions, such as passwordless authentication in organizations and also for individuals. In case of any security breach or cybercrime, heavy penalties and fines are imposed on organizations if they do not adhere to these mandates.
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