Putting Cybersecurity in Your Hands

cybersecurity data breachThe Weekly Cypher is specially curated to keep you up-to-date on the latest in cybersecurity, biometrics, and related news and innovations. This week’s topics are:

Why Your Phone Will Be the Future of ATMs | Fox Business

Despite launching chip enabled cards as a security measure, banks saw a 70 percent increase in compromised card use at merchants and ATMs in 2016. While banks have considered using biometric authentication at ATMs, the high stakes of protecting consumer biometric data made it unappealing. Now banks are beginning to have customers use their phones as tokens at ATMs, possibly also integrating biometrics. Later this year and through 2018, Wells Fargo plans to have customers tap their phones at ATMs while using apps like Apple Pay to authenticate using biometrics. [Read More]

A Data Breach Will Likely Impact Your Company’s Stock Price | TechRepublic

A data breach can take a financial toll on any company, but it may have a longer impact than previously thought. According to a new report from Comparitech, a company’s stock price can suffer in the years after a cyber attack. While stock prices only go down slightly immediately following a breach, on average they only increased by 14.8 over the following three year period. That’s hardly growth, considering the average stock price rose 45.6 percent in the same amount of time before such events. While every company is affected differently, part of the slow growth seems to be due to customers no longer trusting the company, especially when sensitive data is leaked. [Read More]

The Future of Policing Will Include Facial Recognition | BT

The police force in the UK has recently begun testing facial recognition technology. Through the use of CCTV systems and police vehicle cameras, police can monitor city centers and train stations, actively scan faces, and compare them to a watch list. While extremely helpful and already leading to some arrests, some concerns over false positive rates and privacy have emerged. Many wonder how long biometric images are stored for and where they are stored, especially as it was revealed in February that 19 million people exist on a custody photo database. [Read More]

Will Behavioral Biometrics Bring An End To Passwords? | CBS New York

Researchers at Rutgers University are working on new technology that would eliminate the password. Using behavioral biometrics, sensors in the phone pick up on the way a person walks, swipes their phone, or types, actively authenticating as the user goes about their day. While highly accurate, actively measuring behavioral biometrics is receiving some push back due to users feeling uncomfortable that they are constantly being monitored. However, researchers believe these high-security measures will replace passwords in the next few years. [Read More]

Verizon Data on Six Million Customers Leaked Online | CNN Tech

On Wednesday, Verizon confirmed a data leak of the personal information of over 6 million customers online. Names, phone numbers, and PINs used to confirm customer identity were made available online, but so far no identity thefts have been reported. The leak came to Verizon’s attention on June 13, and the company was able to close the security hole by June 22. The company is currently blaming the breach on a misconfigured security setting on a cloud server due to human error, and all Verizon’s customers are advised to update their PIN to ensure maximum security of their account. [Read More]