Many companies have started adopting digital technologies in their day-to-day operations as they adapted to the changing business landscape to stay on top and remain competitive in their industry. This shift to digital technologies comes with significant risks as hackers constantly take advantage of weak security systems and knowledge-based authentication to steal information from businesses.
Hackers love exploiting KBA systems by taking advantage of weak passwords and stolen login credentials to access confidential info, including banking details. These hackers are called black hat hackers and primarily steal information for their own purposes. Another type of hacker called the white hat hacker is useful for businesses as they look for vulnerabilities in a security system that companies can then rectify.
Apart from relying on white hat hackers, businesses can be more proactive by instilling a security-focused workplace culture. This mitigates the risk of the employees exposing themselves to cybersecurity risks by educating them on the dos and don’ts of accessing the internet. Many people rely on public WiFi to access the net on the go, which many cybercriminals usually mimic to pose as legitimate public hotspots.
Even after introducing a secure work culture, many employees might still not practice their due diligence to keep themselves safe from online threats. Businesses must then use mobile identity verification and digital signature authentication to ensure that only authorized personnel has access to certain information.
Even when business owners and employees are careful with how they handle their devices, it is still possible for hackers to gain access to certain login details. Many emails easily get compromised, and cybercriminals can use these credentials to access normally restricted accounts, but using biometric identity verification solutions can keep them from accessing sensitive information, especially banking details. Requiring customers and employees to provide the correct biometric data will effectively restrict bad actors from having access since such data is harder to steal.
Businesses must also consider using enterprise anti-virus and anti-malware software to protect their computers from viruses that cybercriminals use to access a network. Businesses must take extra care of their systems and sensitive information. One of the first steps they need to take is abandoning dated KBA solutions or at least supplementing them with robust biometric authentication and digital identification solutions for two-factor authentication.
For more information, see this article by LoginID.
