New research from Callcredit has been released this morning, which found that whilst 73% of fraud professionals think mobile devices will be the key facilitator of identification in the future, 60% feel they will present the biggest single point of compromise in the future. Ryan Wilk, Director at NuData Security commented below.
Ryan Wilk, Director at NuData Security:
“Many companies have placed the trust of authentication in a username / password or by binding the user’s credentials to a device. While these are effective means to stop the novice fraudster, these controls continue to fall short at the times they are truly needed.
“To ensure we can continue to have a trusted and secure authentication path in this digital first world, merchants and banks need to move away from simply trusting single data points or a device that can be spoofed or compromised and place the trust in their valued customer. This trusted environment can only be achieved through a holistic risk based authentication infrastructure that looks across multiple vectors of the user’s behavioural interaction such as Device, Connection, Behavioural Analytics, and Passive Biometrics powering a dynamic and intelligence step up authentication system. Doing this will allow merchants and banks to avoid the risk of authentication fraud while ensuring that their valued customers continue to receive a great experience.”