Trying to verify an online user’s identity with SSO and the like “is a feel-good measure” that does little to stop serious fraudsters. That’s the assertion of BioCatch‘s vice president of marketing Frances Zelazny in the inaugural post on the company’s new blog, Fraud Stories.
Zelazny’s emphasis is on the sophistication of contemporary identity fraud, which has evolved from the realm of “deadbeat dads” and “convicted felons” of yesteryear and into a criminal enterprise “more akin to identity laundering.” She notes that many identity attacks make use of personal information, often used for vetting, that has been compromised and is available through the dark web. That means “fraud today comes from authentication sessions”, which means in turn that it’s time to rethink relying on such information for user authentication.
It’s the kind of argument that is evidently proving persuasive to organizations like LexisNexis and Experian, both of which have integrated BioCatch’s behavioral biometrics technology into their security platforms this year. By assessing myriad behavioral patterns that are by their nature almost impossible to fabricate, behavioral biometrics technology offers a promising layer of security for online user authentication. Major financial institutions and even the US military are exploring the potential of such technologies, and BioCatch’s new blog is sure to make a good case for them going forward.