Another day, another security breach. The headlines have been littered with recent reports of fraudsters and hackers stealing consumer information from everyone from email providers to hotel chains and credit bureaus.
But, despite the disastrous news, there is reason for optimism in the fight against fraud. Over the past month, several providers debuted solutions to combat cyberattacks by employing new innovations and technology.
The October edition of the PYMNTS Digital Identity Tracker™, powered by Socure, features coverage of the headlines surrounding these new security solutions, including a new device designed to back up biometric security and other notable trends from around the security and authentication space.
Around the Digital Identity world
While fraudsters may have had a field day with breaches like those at Yahoo, Hilton Hotels and Equifax, security providers have been fighting back with new solutions designed to stop them in their tracks.
Payments technology provider Elan Financial Services, for one, announced it will now send two-way fraud alerts to owners of Elan processed debit cards via a new partnership with Ondot Systems. And similarly, identity verification provider Trulioo recently launched its Global Business Verification solution, a tool to verify if an online business is real and enabling companies to detect cybercrime, fraud and other criminal activity like tax evasion or money laundering.
To see the rest of the latest Digital Identity headlines, check out the Tracker’s news and trends section.
Giving voice recognition a security boost
Both consumers and companies are increasingly turning to biometric authentication technology to help fight against security breaches and other cybercrimes.But, while these high-tech authentication methods can be trained to respond only to the voices of authorized users, it turns out fraudsters can already fool voice recognition software.
In a recent interview with PYMNTS, Kang G. Shin, professor of electrical engineering and computer science and the Kevin and Nancy O’Connor Professor of Computer Science at the University of Michigan, explained that while talking to electronics is essential to many facets of modern life, those communication channels are far from foolproof.
“Increasingly, voice is being used as a security feature, but it actually has huge holes in it,” Shin said. “If a system is using only your voice signature, it can be very dangerous. You really need to have a second channel or factor of authentication if you want to authenticate the owner of that voice.”
To read this month’s Digital Identity Tracker Feature Story, download the Tracker.
To download the October edition of the Digital Identity Tracker™, powered by Socure, please fill out the form below.
The PYMNTS.com Digital Identity Tracker™, powered by Socure, is a forum for framing and addressing key issues and trends facing the entities charged with efficiently and securely identifying and granting permission to individuals to access, purchase, transact or otherwise confirm their identity.