PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

What Do Underpants Have to Do With Behavioral Biometrics?

Frances Zelazny by Frances Zelazny
May 23, 2017
in Industry Opinions
0
payments innovation, banking information

Digital disruption concept background image. Double exposure of silhouette of peoples with binary code abstract background. Representing sharing economy in digital disruption.

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

If you were at the K(NO)W Identity Conference last week in Washington, DC, you would know. In a Tuesday morning keynote address, David Birch of Hyperion Consulting not only entertained the audience, but talked about the real risks and opportunities of our overly-connected world, and how the notion of identity needs to be thought about in a new context. Rather than focus on the internet of things, David posited that we should focus on the identity of things.

This of course raises many questions. How to manage identity across such a broad spectrum? What constitutes identity and how to ensure that the person transacting is really the right person when so much PII is out there for fraudsters and hackers to use?

Having been in the biometrics industry for close to 20 years, these questions have been in my mind for some time. One major challenge is identity vetting. Prior to handing a credential, how can one be sure that it is given to a person that is not stealing or making up an identity, and that a fraudster’s fingerprint or face is not attached to someone else’s record. And then once the credential has been provided and the person provisioned, how to make sure it is not handed over to someone else or a session in use with that credential is not usurped.

In the world of behavioral biometrics, this problem is translated into two main use cases: new account fraud and account takeover. In new account fraud, patterns of behaviors that are more common to fraudsters are recognized without the need for any existing enrollment. These are things related to how information is entered, how familiar a user is with an application or certain computer functions. For fraudsters, time is money and so they become experts at filling applications and trying to bypass identity vetting procedures. Just yesterday, it was announced that a database containing 560 million passwords was discovered on Gizmodo. According to news reports, it seems that most of the information contained was compromised during other incidents at sites such as this one (LinkedIn). It is therefore not hard to surmise that in accessing people’s accounts, fraudsters will then gain the other information they need to impersonate them during some kind of an identity vetting procedure, whether for a bank loan, credit card application, etc.

In the account takeover use case, the person is typically fooled into either downloading malicious software on their machine that will allow a remote access or will be tricked into logging in to their account and then allowing a “shared” access. The challenge in this case is that the traditional authentication methods will have worked and the hackers will have just gone around them. The standard tools that we are using would not detect this threat.

So, back to underpants. Most of us would agree that we need them. Just like most of us would agree that we like the convenience of banking online, shopping online, managing electronic health records from the comfort of our living rooms, conducting classes remotely and everything else that we do via our mobile devices and our computers. We do so with an expectation of trust in the handling of our personal information. There are many ways to fortify our networks and try to prevent intrusions. But the ransomware attack from last weekend should have been a real wake-up call for institutions and organizations that manage our records that humans are ultimately where the rubber meets the road and we ought not to be caught with our underpants down.

Tags: BiometricsSelf Service and Convenience
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    eCommerce On Social Media, social commerce

    The Rise of Social Commerce and Social Payments

    February 3, 2023
    Electroneum AnyTask; ETN Crypto, sales enablement

    Ethical Financial Selling: The Role of Compliance Technology and Sales Enablement

    February 2, 2023
    direct deposit

    Nacha Launches Campaign to Reach Millennials on the Benefits of Direct Deposit

    February 1, 2023
    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    January 31, 2023
    credit card tumbling

    How to Detect, and Prevent, Credit Card Tumbling

    January 30, 2023
    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    January 27, 2023
    faster payments

    Faster Payments Are Set to Revolutionize Modern Digital Payments

    January 26, 2023
    How AI can Help Manage Payments Risk in 2023

    How AI can Help Manage Payments Risk in 2023

    January 25, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Equinix report - Dojo Delivers Fast, Reliable and Secure Card Payments to Businesses on Platform Equinix