Caffeine junkies are up in arms over reports that criminals have been targeting their Starbucks account balances. But the real story is poor password-picking practices by consumers, and Starbucks' lack of multi-factor authentication.
Even a few weeks after the RBI announced its plan to consider removal of the two-factor authentication requirement for small-value transactions, security critics continue to react strongly against the notion.
The increase in sophisticated hacking attacks will lead other sectors to follow the lead of the financial services industry in implementing multifactor authentication, says Ken Hunt, CEO of VASCO Data Security International.
Security experts see the FIDO Alliance's release of two universal authentication specifications as a positive move in the effort to eliminate passwords. But the standards' impact will be minimal unless they're widely adopted.
A recent blog post by Managing Editor Mathew J. Schwartz, "Why Are We So Stupid About Passwords?" raised a number of issues about the ongoing risks involved in using passwords for authentication. Read the strong reaction to the commentary and join the conversation.
The latest entrant into the password "hall of shame" is Sony Pictures Entertainment. As the ongoing dumps of Sony data by Guardians of Peace highlight, Sony apparently stored unencrypted passwords with inadequate access controls.
The development of authentication technologies that could replace the password is "nearing a tipping point," but there's still several years of work to do, says Jeremy Grant, who oversees the National Strategy for Trusted Identities in Cyberspace.
Initial reports suggested that Russian hackers could behind an attack against JPMorgan Chase, and perhaps other U.S. banks. While it's still far from clear who the culprits are, experts discuss the potential hacking motivations of a nation-state.
Millions of user credentials are breached regularly - whether we hear of the incidents or not. So, why do we continue to rely on passwords? Derek Manky of Fortinet discusses authentication and data retention.
Using big data to fight fraud is a challenge for most organizations. Andreas Baumhof of ThreatMetrix explains how context-based authentication combines fraud and security to leverage the use of big data.