The metaverse brings new customer identity and access management (CIAM) and fraud management challenges. While users often want anonymity, especially for gaming and chatrooms, the metaverse can only become a viable channel for higher-risk, higher-value transactions if it establishes a high level of trust. Headset-centric interactions also require new approaches to identity verification, authentication, user authorization, consent, and fraud management. This report covers how the metaverse will address identity management and verification to become a viable channel for businesses and governments.