An analysis of the Target breach prepared for a Senate committee is a political document that might help its patron's agenda but doesn't go far enough to identify technical solutions to help enterprises avoid Target-like breaches.
One key factor in efforts to reduce reliance on passwords for authentication will be international acceptance of the FIDO Alliance's soon-to-be released protocol for advanced authentication, says Michael Barrett, the alliance's president.
Simple credentials, such as passwords, are a hacker's best friend, says Phillip Dunkelberger of Nok Nok Labs, a founding member of the FIDO Alliance. That's why the alliance is working to reduce reliance on passwords by enabling advanced authentication.
Two critical steps that banking institutions need to take in 2014 to help prevent fraud are implementing big data analytics and adopting far more sophisticated customer and employee authentication, says Gartner analyst Avivah Litan.
In a groundbreaking effort to boost security, HSBC Bank USA is now requiring its retail banking customers to use dual-factor authentication for certain sensitive online banking transactions, says LuAnne Kingston, senior vice president.
To help reduce reliance on passwords, the FIDO Alliance is developing standard technical specifications for advanced authentication. Michael Barrett and Daniel Almenara of FIDO describe the impact the effort could have in 2014.
Whether reports that the National Security Agency entered into a secret contract with security provider RSA are true or not - and RSA says they're not - the reputations of all American security vendors have been tarnished.