Identity Theft Boom Should Spell the End of the Password

By   ISBuzz Team
Writer , Information Security Buzz | Jun 02, 2015 07:00 pm PST

Following the news the identity theft is on the rise in Britain, please find below comment from Richard Parris, CEO of cybersecurity company Intercede.

“The sharp rise in identity theft in the UK over the last year is a direct result of the widespread lax security procedures seen as consumers and companies alike persevere with outdated username and password-based authentication. This already porous level of security is then made even less effective by the continued use of basic password combinations, which are then used for multiple logins.

“In Intercede’s study The Rise of the Identity Centric Economy, these poor habits were painfully illustrated, with 60% of UK consumers confirming they only used passwords they could ‘remember’. With statistics like these it’s no wonder identity theft is so prevalent in the UK.

“The fact is that multiple complex passwords are difficult to remember and so inherently insecure. Instead it’s time companies took responsibility for the security of their consumers and governments took responsibility for the security of their citizens. Much safer (and easier to use) two factor authentication technologies are available, already deployed in high security applications and could be much more widely implemented.”

About Intercede:

Intercede is a software and service company specialising in identity, credential management and secure mobility. Its solutions create a foundation of trust between connected people, devices and apps and combine expertise with innovation to provide world-class cybersecurity.Intercede has been delivering solutions to high profile customers, from the US and UK governments to some of the world’s largest corporations, telecommunications providers and information technology firms, for over 20 years.Intercede’s MyID software is an identity and credential management system that enables organisations to create and assign trusted digital identities to employees, citizens and machines and in turn allows secure access to services, facilities, information and networks. MyID adheres to international standards, while remaining simple enough to be deployed onto consumer devices such as smartphones, tablets and other devices in the Internet of Things.In 2015 Intercede launched MyTAM; enabling trusted applications to be loaded into a mobile device’s Trusted Execution Environment (TEE), providing hardware-level security for Android apps. The cloud-based service provides a cost-effective and convenient way for developers and corporations to protect their apps and users’ sensitive data.For more information visit