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LexisNexis Hack Signals the Death of Knowledge-Based Authentication

Hundreds of online service providers are now in an arms race to replace outdated technology following the database leaks of LexisNexis, Dun & Bradstreet and Kroll Background America.

Replacing knowledge-based authentication with a single product is not a viable solution; instead firms need to seek a multi-layered solution

Vancouver, BC (PRWEB) September 27, 2013 — Services ranging from Obamacare to credit checks to online banking all rely on aggregated personal information provided by these sites. The revelation by Krebs On Security that online criminals have been harvesting and selling this information for over 6 months puts the online safety of everyone at risk.

In the wake of Krebs revelations, any customer of a company that uses a knowledge-based approach to authenticate them now faces a significantly higher chance of being defrauded.

The security options for enterprises range from the implementation of biometric security as seen in the latest Apple iPhone – to invisible technologies such as behavior piercing web fraud detection.

Leading analysts and security experts note that replacing knowledge-based authentication with a single product is not a viable solution; instead firms need to seek a multi-layered approach, as outlined by Avivah Litan in the Gartner report, “The Four Layers of Identity Proofing Lead to Stronger Identity Verification”.