Editor's note: The following was originally posted as a comment to our June 15, 2015, CUTimes.com news story, "DNA Data Security Favored by One in Four Americans."
It sounds interesting that "72% of consumers said they would appreciate the use of biometric identification in banking (such as fingerprints or iris recognition) for device authentication in financial services transactions."
I agree that biometric authentication – involving voice, facial recognition and fingerprints – can be a great idea, but what should I do if my biometric data is stolen? I know how I can change my password when needed, but how can I get another voice, face or other biometric? We still have that problem to solve.
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I like payments made using the new Visa technology that in effect will empower a customer's smartphone to track his or her location, and those who don't want to be tracked, even for good reasons, can say, "No thanks."
We are seeing a number of common issues across recent data breaches, in which our most sensitive data is stolen, and I think it is time to rethink our security approach and be more data-centric.
The large credit card breaches at retailers such as Target and Home Depot would not have amounted to anything if the data had been tokenized or encrypted. I think that we urgently need to have data neutralized to reduce its value to hackers.
Aberdeen Group reported in a very interesting study with the title, "Tokenization Gets Traction," which states that data tokenization users had 50% fewer security-related incidents than non-users did, and 47% of respondents are using tokenization for something other than cardholder data. Aberdeen also has seen a steady increase in enterprise use of tokenization as an alternative toencryption for protecting sensitive data.
Tokenization and improved authentication can together be the game changers we urgently need in fighting data breaches.
Ulf Mattsson
Chief Technology Officer
Protegrity
Stamford, Conn.
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