At the beginning of the year, we ask ourselves what new developments in 2019 will change people's lives. Just like businesses, criminals are also innovating and using advances in technology to their advantage. Here are the trends to watch out for in cybersecurity to ensure digital identity protection and fraud prevention.
- Synthetic identity multiplication. These are attacks based on the generation of false identities from a real identity. In 2018, hackers used sensitive information obtained from attacks on large companies to generate this type of identity, which in turn is used to carry out more fraud. Those affected included, for example, the Marriott hotel chain, with the data of around 327 million people compromised, and Sony, which suffered repeated attacks on its PlayStation Network databases. Users are increasingly sharing sensitive data and attackers are continually learning new methods to access it.
- Proliferation of reputation systems. Scoring systems are often used to assess whether a person is in a position to acquire a bank loan. Companies such as Uber and Cabify have also implemented them to rate drivers, and some universities use them to determine professors' bonuses. This year, its use will be extended to other areas and will also be combined with behavioural analysis based on location and the way people interact with the population.
- Standardised and frictionless access to public WiFi. Today, however, people are discouraged from using public networks due to the vulnerability of these networks. It is expected that access points will be unified to generate a single system of public wireless networks that all connected devices will rely on in order not to lose connectivity, and include digital onboarding systems with biometrics and scoring systems to increase their security.
- Using the voice as a conductor. The incorporation of technological advances in voice recognition has helped to make the system more effective. As a result, voice will increasingly be used to activate commands and perform searches on devices to replace manual actions.
- Incorporating cybersecurity strategies into the business. Recently, N26, one of the pioneering companies in Europe that delivered the first credit card remotely, put the entire Fintech ecosystem on alert for failing to comply with basic cybersecurity measures, allowing a credit card to be obtained with a fake ID. This example helped reinforce the need for companies to implement robust remote digital identity validation strategies to avoid potential reputational threats. In 2019, organisations across all sectors and industries will be taking steps to protect users' digital identities, something that will continue to increase in the coming years.
Just as attackers are alert to new releases to optimise their criminal tactics, companies need to react just as quickly to implement cyber security measures into their business strategy to protect their users' digital identities and prevent fraud.
About VU - http://www.vusecurity.com/
It is a company specializing in the development of cybersecurity software, with a focus on fraud prevention and identity protection. Its mission is to deliver frictionless and secure digital experiences for both citizens and companies. It is the only company in the region aligned to best practices in international authentication, member of FIDO Alliance, OATH and OCF. Founded in 2007, it has offices in Argentina, Chile, Uruguay, Ecuador, Colombia, Costa Rica, Mexico and Peru.
Written by Sebastián Stranieri, CEO of VU
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