Biometric Products Can Help Cybersecurity

A new report is predicting a significant rise in the use of biometric products, as organisations look to prevent fraud and protect their estate from organised cyber-crime groups.

Fraud, as the report highlights, is a serious problem. In the 2016 Cyber Security Breaches Survey published by the UK government, 65 percent of large firms in the UK detected a cybersecurity breach or attack in the past year. 

Sandra Peaston, assistant director of insight at Cifas, says in the report that, “In 2015 Cifas member organisations recorded 170,000 cases of identity fraud. Clearly, the Personally Identifiable Information (PII) that is still the standard (names, address, birthdates, phone numbers etc.) and the ‘what you know' element of the identification/authentication process is in the hands of fraudsters and being exploited.”

The Callcredit Information Group says in its Fraud & Risk Report that while 75 percent of those surveyed have high confidence levels in their ability to prevent fraud, the number masks the obstacles to fraud prevention. Peaston said, “Given this, it's unsurprising that organisations are looking to biometrics to help overcome this problem. If an organisation finds it has two different applications, in two different names, but both accompanied by the same fingerprint (for example), it can easily see that at least one of those applications is highly likely to be fraud.”

It's through fraud, like phishing attacks, that criminals can gain access to a company's network. These are some of the biggest concerns of companies surveyed.

That number can seem impressive, but 29 percent of those surveyed cite a lack of investment in fraud prevention technology by their organisations and 28 percent who highlight a lack of employee education about security threats.
John Cannon, commercial director, fraud & ID, Callcredit Information Group, said in a release: “With cyber-attacks costing UK firms £30 billion in 2016, and with major global breaches reported in the first half of this year, leveraging technological advancements has never been more important for organisations' to instantly verify customers, identify risks, and ultimately stay ahead of the fraudsters.”

The research also found that a majority (74 percent) of organisations are struggling to manage the potential conflict that exists between customer acquisition and the need to validate identities when customers interact with them.

Cannon continued: “By allowing customers to complete document verification online, technology can also help simplify and improve the digital customer experience. Ultimately helping businesses onboard consumers as quickly, cost-effectively and seamlessly as possible.”

SC Magazine

You Might Also Read:

Is The Password Dead?:

Anti-Surveillance Clothing Thwarts Facial Recognition:

 

« Who Is Behind Petya?
WikiLeaks Reveal CIA Credentials Malware »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

Authentic8

Authentic8

Authentic8 transforms how organizations secure and control the use of the web with Silo, its patented cloud browser.

IT Governance

IT Governance

IT Governance is a leading global provider of information security solutions. Download our free guide and find out how ISO 27001 can help protect your organisation's information.

Practice Labs

Practice Labs

Practice Labs is an IT competency hub, where live-lab environments give access to real equipment for hands-on practice of essential cybersecurity skills.

Resecurity, Inc.

Resecurity, Inc.

Resecurity is a cybersecurity company that delivers a unified platform for endpoint protection, risk management, and cyber threat intelligence.

CSI Consulting Services

CSI Consulting Services

Get Advice From The Experts: * Training * Penetration Testing * Data Governance * GDPR Compliance. Connecting you to the best in the business.

Plan B

Plan B

Plan B is a specialist IT continuity and Disaster Recovery Service provider.

ixAssociates

ixAssociates

ixAssociates is a UK based IT Integration business specialising in risk, compliance, eDefence, and network security solutions.

CSIS Security Group

CSIS Security Group

CSIS provide actionable threat intelligence, prevention, incident response and 24/7 managed security services.

Cyber Security Raad (CSR) - Netherlands

Cyber Security Raad (CSR) - Netherlands

The Cyber Security Council (CSR) is a national, independent advisory body of the Dutch government undertaking efforts at strategic level to bolster cyber security in the Netherlands.

MrLooquer

MrLooquer

MrLooquer provide a solution to automatically discover the assets of organizations on the internet, determine the level of exposure to attacks and help to manage risk accurately.

Dell Technologies

Dell Technologies

Dell Technologies Consulting Services enables a highly resilient business amidst the proliferation of cloud-based IT services and constant threats to your most critical information.

CyberForum

CyberForum

CyberForum supports businesses from the IT and high-tech industry in all stages of their development: from startup consulting to professional staffing and even location marketing campaigns.

Cyentia Institute

Cyentia Institute

The Cyentia Institute is a research & data science firm with a mission to advance knowledge in the cybersecurity industry.

PatrOwl

PatrOwl

Automate your SecOps with PatrOwl, and start defending your assets efficiently.

ThreatX

ThreatX

ThreatX provides complete web application & API protection to address expanding app footprints and complex attacks.

Componolit

Componolit

Componolit GmbH is a highly specialized company with a strong emphasis on trustworthy software, component-based systems and formal verification.

Apono

Apono

Apono enables DevOps and security teams to manage access to sensitive cloud assets and data repositories in a frictionless and compliant way.

Sealing Technologies (SealingTech)

Sealing Technologies (SealingTech)

SealingTech is a leader in cutting edge research, products, engineering, and integration services in the Internet of Things, Edge, Machine Learning, Artificial Intelligence, and Cloud.

Bores Security Consultancy

Bores Security Consultancy

Bores Security Consultancy are an established family-run business delivering expertise in security and technology.

Descope

Descope

Descope is a service that helps every developer build secure, frictionless authentication and user journeys for any application.

Espria

Espria

Espria is a leading independent managed service provider with expertise in Cloud, IT, Communications and Document Solutions.