by Ryan Wilk
NuData Security’s Director of Customer Success, Ryan Wilk, sat down with SC Magazine to talk about how we can harness the subconscious to create a better, more secure solution for companies that want to not only protect their user base but block out mass attacks against their system.
Experts estimate that a billion data records were stolen in 2014 as a result of the tidal wave of data breaches that hit organizations across all industries. Retailers were hit particularly hard, leaving consumers skeptical about the ability of even the big brands to keep their identities and financial information safe. While these brands had implemented security strategies, they clearly weren’t enough.
Malicious actors are endlessly clever, it seems, in devising new ways to steal data. These cybercriminals often are specifically looking for credit card numbers that can be reused on other e-commerce sites or sold to the highest bidder on the digital black market. While dealing in stolen financial data is still a lucrative endeavor, a shift is occurring in the value of another commodity: usernames and passwords. Because many people use the same credentials across multiple Web accounts, a cascading effect occurs if a hacker gets hold of those credentials. Suddenly, all those accounts can be accessed – including emails accounts, if those credentials work for email as well.
It can be difficult to determine the best form of protection for users. Popular user authentication methods include sending an SMS message to a user’s cell phone and Knowledge Based Authentication (KBAs), in which users answer pre-defined questions (“What’s the name of your first pet?” “Where did you meet your spouse?” etc.) While these methods provide an added layer of protection, they also add customer friction, potential customer insult and lost conversions, all of which a business wants to avoid.
To get the full story, head on over to SC Magazine’s blog and read it here.