Meet Your New Biggest Cyberthreat Mobile Devices

Meet Your New Biggest Cyberthreat: Mobile Devices

Over the last several years, your business has been relying more and more on its mobile devices to operate. Now, all of your employees have smartphones and tablets. They use them for everything from processing payments to collecting data to communicating.

Here’s the problem, though: These devices are not secure. In fact, in a recent study 93 percent of organizations agreed that mobile devices present a serious and growing cyberthreat.

The report also found that:

  • 32 percent of companies admitted to sacrificing mobile security to improve performance;
  • 79 percent stated that the disruption of business operations is a bigger threat than the theft of data; and
  • 79 percent fear employee misuse.

Of course, the hardest step is admitting that you have a mobile security problem. Once you understand the scope of the cyberthreat, you can start taking immediate actions to improve your business’s mobile security strategy.

As you assess your mobile cybersecurity strategy, remember to consider taking a multifactor authentication approach that utilizes multiple systems to protect employee accounts. Give your employees access to a variety of authentication tools, and let them decide which ones work best for them. This could include voice biometric identity verification, strong passwords and security questions, or facial, iris or fingerpint scanners.

Remember that the more security checkpoints you add to your mobile device, the more secure your device will be. However, they need to be easy for employees to use or it could impact morale and productivity.

To learn more about how VoiceVault can bolster your company’s cybersecurity strategy, click here. Developers can also access a free trial here.

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There’s No Easy Solution to Cybersecurity

Many business leaders today are still operating under the belief that cybersecurity is a simple fix — and that a single provider or solution can protect your business.

Until this way of thinking is corrected, cybersecurity will remain a top challenge for businesses.

The fact is that if you want to keep your business safe on the Internet today, it requires embracing a fundamental shift in how you approach the subject. Cybersecurity today is an around-the-clock job that requires using a variety of different technologies and strategies.

You can’t, in other words, rely on anti malware software anymore and expect it to work. But if you use it as part of a wider strategy that incorporates many different and layered protections, it can work.

Here is an example of what a robust cybersecurity strategy is comprised of today:

Physical access controls: All computing devices and equipment should be protected with strong identity verification controls, to protect unauthorized users from accessing core network services.

Regular patching: All hardware and software needs to be regularly monitored for security updates, to protect hackers from exploiting vulnerabilities.

Real-time network monitoring: Anomalies cannot go overlooked. They need to be detected and investigated in real-time in order to prevent them from spreading across the network.

Rapid-response troubleshooting: Cyberattacks can happen at any hour, not just when employees are in front of their desks. Businesses need cybersecurity experts in place to spring to action as soon as they are needed.

Employee education and awareness: A business is only as strong as its weakest cybersecurity link. Employees need to be aware of the threat landscape, so that they know what to avoid online.

Mobile security: Mobile devices are now considered to be one of the top threats facing enterprises today. As such, organizations need to use multifactor security to protect company and employee-owned devices. Strong password hygiene and biometrics should be used together for maximum protection.

VoiceVault is a leader in cloud-based voice biometric identity verification, and can provide critical support to enhance your company’s cybersecurity.

To learn more about VoiceVault, click here.

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How to Fight Password Leak

How to Fight Password Leak

The recent false missile alert at the Hawaii Emergency Management Agency (HEMA) brought to light a serious security vulnerability that all businesses should take note of. And it has nothing to do with rockets.

Business Insider analyzed several press photos from HEMA headquarters, and discovered on one a sticky note, taped to a computer screen, with “password” written on it. This was followed by a series of characters.

As of right now, it isn’t clear whether there is a connection between the visible password and the false alarm that made national headlines for the panic that it caused. The incident, however, is a reminder about how careless employees can be with passwords — and the risks that this can pose for an organization.

This is a great example of “password leak” which occurs when a company loses control over its login credentials. Every time an employee writes down a password, or stores it in an insecure location, it puts the company’s sensitive information at risk. As this shows, passwords can be easily lost, shared or stolen.

So, what can be done to prevent password sprawl?

First and foremost, remind your employees to be smart about using passwords. Tell them not to hide passwords in plain sight, and to consider memorizing them prevent them from falling into the wrong hands. You can also supplement your company’s passwords with advance biometric-based solutions.

VoiceVault can be used in conjunction with additional third party biometrics solutions to enhance your mobile security strategy and prevent unauthorized users from stealing your company’s information.

For more information about VoiceVault, click here.

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How Do Consumers Feel About Biometrics?

For years, all we have been hearing about in the biometric security space is how demand is growing, and how businesses are integrating them at a high pace.

This begs the question, though: How do customers feel about biometrics?

Many business leaders are still concerned that consumers are not ready to submit biometric samples like fingerprint, facial or iris scanners when logging into accounts or verifying transactions. But as it turns out, consumers are actually overwhelmingly in favor of biometric solutions.

According to a recent study from MasterCard— which recently announced consumers will be able to use biometrics for payments— 93 percent of consumers prefer biometrics over passwords when validating transactions. And banks are reporting that when biometric authentication is used, customers are more inclined to complete their purchases. Cart abandonment rates have been found to drop by as much as 70 percent compared to other types of methods like SMD and single password-based systems.

Part of the reason why these types of solutions don’t work well with biometrics is that they are inconvenient. Consumers don’t like waiting, in other words, for SMS codes to be delivered to their phones. And passwords can still be lost or forgotten.

It’s for this reason why many companies, especially banks, are turning to voice biometric identity verification for their mobile security needs. Voice biometrics can work alongside any other type of verification technology, and all it requires is a microphone. Voice biometrics are a quick, painless and secure way for customers to verify their identities.

To learn more about how VoiceVault can help your company move forward with biometric-based security, click here. A free developer trial is also available here.

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Why You Need More Than Just Facial Recognition Protection

There is no denying the popularity of facial recognition software, as the global market is on pace to reach $8.74 billion by 2022 at a compound annual growth rate of 17.83. It’s quickly becoming one of the most popular types of biometric identity verification technologies, and is rapidly spreading across all vertical markets.

As such, you may be in a position where you are wondering whether facial recognition is the right technology for your business’s mobile users. Is it worth investing in facial recognition software, or should you look to other types of security technologies?

Keep in mind that while facial recognition is useful, it’s not the most secure type of biometric security. Researchers have discovered, for instance, that Windows 10’s “Hello” security feature, which uses facial recognition, can be spoofed with a  photograph. And another group of researchers successfully created a backdoor into a facial-recognition system, enabling hacker wearing glasses to trick the system into thinking they are the real user.

Here is our take on the issue:

Facial recognition may be vulnerable to certain types of fraudulent attacks, but that doesn’t mean that you should fear using it. Just don’t make it your only mobile security solution. Instead, think of it like a locked glass door in front of a heavy wooden door; in other words, layer it on top of other types of security technologies that are harder to spoof like voice biometrics and iris scanners. This type of strategy is called multifactor security. It’s a way of providing extra protection to your sensitive accounts, in a way that is also convenient to an end user.

To learn more about how voice biometrics can enhance your company’s mobile security, click here.

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Fight Back Against Fraud in 2018 with Voice Biometrics

Fight Back Against Fraud in 2018 with Voice Biometrics

In 2018, there is one problem that executives across the U.S. should be thinking about: Consumer fraud.

With 2016 being the year that saw an all time high in identity fraud, when about 15.4 million consumers fell victim to identity theft or fraud — an increase of 16 percent from 2015, experts predicted an “all-out assault” on consumers in 2017. While the final stats aren’t in yet, we are almost certain to see a significant year-over-year spike in consumer fraud cases for this past year.

A big reason why fraud is getting worse is that more and more consumer information is now winding up online, in Deep Web marketplaces where it can be easily bought at an affordable price. The recent Equifax data breach, for instance, exposed the personal records of hundreds of millions of Americans. Now, hackers are chomping at the bit to use this information for their own financial gain.

So, what is your business doing to protect against consumer fraud?  It may be time to take a closer look at your fraud prevention strategy.

One of the easiest and most effective ways to eliminate fraud is to authenticate customers with voice biometric identity verification — along with passwords and other types of biometric technologies — when logging in and completing orders. This is called a multimodal security strategy. By asking customers to authenticate themselves using multiple unique identifiers, you can make it much harder for fraudsters to spoof the system and gain unauthorized access to information.

VoiceVault makes it easy to implement voice biometrics into any device or mobile application. To learn more about how VoiceVault can protect your organization from fraud, click here.

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Customers Report Identity Verification Issues at Cryptocurrency Exchange

The digital user experience is now a top concern for financial service customers, including customers utilizing cryptocurrency. Customers need to be able to move in and out of their accounts and make transactions without a hitch.

When the user experience is affected, customers get upset — and may seek out competitors offering solutions that are more operationally sound.

This example recently came up when news broke about Las Vegas cryptocurrency exchange Bittrex.  Customers have been complaining that they are having problems withdrawing money from their accounts — and that Bittrex isn’t being very helpful in resolving their issues.

This problem has been going on for about a month now.

As explained in Business Insider, the problem is related to Bittrex’s multifactor identity verification system. Bittrex currently asks users for two-step verification when making transactions. There is an initial prompt for identity followed by an enhanced verification that requires submitting a passport, government ID or selfie.

As of right now, it’s still not clear what is causing the issue. However, it’s an important lesson for cryptocurrency and financial service providers alike:

If you are going to offer multifactor authentication for your customers, it’s critical to implement a high quality — and fail proof— solution that will not interfere with customers when they are making transactions. Authentication needs to be secure, and convenient.

VoiceVault offers one of the most resilient and responsive voice biometric identity verification solutions on the market. Plus, VoiceVault is backed by a team of expert developers offering rapid-response troubleshooting and support.

To learn more about VoiceVault, try a free developer trial today.

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Debunking The Myth That Voice Recognition Systems Can Be Easily Spoofed

There is growing concern among security experts that voice biometric identity verification can be spoofed and is not secure enough to protect businesses and consumers from sophisticated hackers.

A group of researchers at the University of Eastern Finland, for instance, recently made the claim that voice recognition systems can be easily spoofed due to a lack of robust security features. According to the University of Eastern Finland, voice recognition systems “generally aren’t efficient yet in recognizing voice modifications.”

This may be true for some commercial voice biometric identity verification solutions, but not VoiceVault.

VoiceVault’s  voice biometric engine, used to power all of our solutions, contains embedded fraud detection capabilities. The software was specially designed to ensure detect and prevent fraudulent voice samples from incorrectly granting access to a device or application.

For example, each of our offerings contain advanced replay and synthetic speech detection capabilities to detect audio that has been fraudulently obtained. Audio that has been modified; spliced together from more than one voice sample; and generated from speech synthesis can also be detected.

Just how effective is VoiceVault’s voice biometrics engine in preventing fraudulent authentications? In a benchmark test of 10 million calls, VoiceVault was able to verify 99.98 percent of fraudulent attempts.

What’s more, VoiceVault recommends that voice biometric identity verification solution should be used as part of a larger multifactor authentication strategy. Voice e biometrics, in other words, can be used alongside technologies like fingerprint, iris and face scanners as well as traditional authentication methods like passwords, security questions and personal identification numbers (PINS). The belief is that the more authentication options that you provide for users, the harder it will be to hack an account.

To learn more about VoiceVault, click here. You can also try a free developer trial by clicking here.

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Know the Difference: Cloud Vs Localized Biometrics

When selecting a mobile biometric identity verification solution, you will have to make a decision about whether you want to move forward with a localized or cloud-based model.

What’s the better option?

In a localized biometrics setup, the biometric engine is stored in the hardware of the actual device itself. Some companies use localized biometrics if they are skeptical about trusting biometric data in the cloud. It’s also slightly faster, but only in nanoseconds.

There are, however, several disadvantages to using a purely localized biometrics solution. For instance, it’s not possible to create a single cross-channel identity using a localized solution. Plus, there is no easy way to back up biometric data in a localized setup. And there is limited capacity to integrate machine learning.

In a purely cloud-based model, biometric data is stored on a private server instead of on a device. The cloud also makes it possible to set up a universal interface. And it’s easy to integrate machine learning into the biometric system, too. So with the cloud, biometrics can be much more flexible and user-friendly. What’s more, it’s much easier to perform updates on cloud-based models.

VoiceVault can actually give you the best of both worlds, with its hybrid model voice biometric identity verification solution. Using the hybrid model, a user can unlock his or her device without having any connectivity — like if they are in a tunnel. The voiceprint sample will be matched on device, then as soon as connectivity is established, it can be used for cloud-based authentication.

To learn more about VoiceVault’s unique approach to biometrics, click here or contact us. For an additional perspective on the differences, you may also consider reading the recent white paper from Acuity Market Intelligence.

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How Voice Biometrics Can Boost the Mobile Wallet Revolution

We are now witnessing a major transformation in global currency, as consumers are slowly warming up to the idea of using a mobile wallet.

In a recent study of consumers in the U.S., Canada and the U.K, more than half indicated they expect to adopt digital payment systems over the next few years. And many countries, like Denmark, Norway and Sweden, are already well on their way to becoming completely cashless.

Still, though, there are major barriers that are holding back the mobile wallet revolution and causing consumers to stick with their existing payment preferences.

Concerns about fraud, for instance, are very high among consumers. In another study, 19 percent of consumers indicated they are concerned that unauthorized transactions may occur after using a mobile phone for payment. And 21 percent prefer not to register payment credentials to their mobile phone.

In light of this, business leaders are highly encouraged to bring an authentication mindset to the upcoming Money20/20 conference.

Many companies at this conference will be offering cutting-edge technologies that can boost digital payment security and win over customers who may be skeptical about change. VoiceVault, for instance, will be on hand at Money20/20 (booth #737) to showcase its industry-leading voice biometric identity verification technology.

Voice biometric identity verification offers two major features that consumers want to see in their mobile payment systems: Security, and convenience.

Voice biometrics are one of the most secure forms of biometric authentication, as they cannot easily be spoofed. A voiceprint has many unique identifying characteristics, and all of them must be a perfect match in order to grant an end user access into his or her account.

What’s more, the process only takes a few seconds and does not require the user to remember a password, personal identification number (PIN) or answers to security questions. All you need is your voice, and a device with a microphone. Using voice biometrics, authenticating a payment is every bit as easy as signing your name on a receipt.

To learn more about voice biometric identity verification, click here or visit our Booth # 737 at Money20/20.

Money2020 2017

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