We recently hosted a webinar featuring CSID VP Marc Ostryniec and Toopher CEO Josh Alexander. Marc and Josh discussed consumer password habits, supplemented by statistics from our recent consumer survey. The two also revealed how these habits put consumers and businesses at risk for compromise, and what businesses can do to mitigate these risks now and in the future.
It was a really interesting conversation and we encourage you to listen to the full webinar recording. If you are short on time, here are a handful of key takeaways from the discussion:
- A business’ security is only as strong as its weakest link, which is often the human element. Human fallibility doesn’t stop at downloading a virus or clicking on the wrong link. An email or password compromised from one company’s data breach can open up vulnerabilities across a multitude of completely unrelated websites such as banking, financial, online retailers and the like.
- To mitigate these risks, businesses should educate, monitor and authenticate their customers and employees.
- Businesses can consider compulsory password education for customers and employees—require the use of a stronger password or regular password changes.
- Monitoring breached data for customer and employee credentials can help a business 1) identify compromised information that puts them at risk and 2) alert owners of the credentials to take responsive action (i.e. change passwords, cancel credit cards).
- Businesses should adopt two-factor authentication whenever possible. It can be based on a combination of:
- Something the consumer knows (password, personal question)
- Something the consumer has (mobile device, smart card)
- Something the consumer is (biometrics)
- Businesses can also create or explore new authentication techniques that use big data, such as behavior or location-based authentication. Check out Toopher’s location-based authentication offering. It’s pretty neat.
Thank you to all who helped put this webinar together and joined us live. We had a great turnout for a fascinating discussion. If you missed us, you can watch a recording of the webinar, and check out Facebook and Twitter for an extension of the conversation.
We have another webinar in the works. Join our mailing list for an invitation (see footer, below), and stay tuned for updates!