Imagine sitting in a bar, as a stranger snaps a photo of you, and then uses that image to find out who you are using facial recognition technology. It's the type of practice that the staff of the U.S. Federal Trade Commission wants to discourage.
The revision would require identity cards used by federal employees and contractors to contain an integrated circuit chip for storing electronic information, a personal identification number, a printed photograph and two electronically stored fingerprints.
More banks are considering voice biometrics, though some still question if the tech is ready for prime time. What has sparked institutions' interest in this emerging authentication technology?
Success rates ranged between 90 and 99 percent among the algorithms, meaning that no software was perfect, and some produced as many as 10 times more errors than others.
Funding would be through NIST's Small Business Innovation Research program that fuels technological innovation by strengthening the role small business plays in bringing to market innovations derived from federal R&D.
In their efforts to conform with the FFIEC authentication guidance, many financial institutions are caught off-guard by the overall cost of enhanced detection and authentication for online banking. Why?
Facial recognition, arguably, is the technology that most threatens individual privacy online, and that's on the mind of Senate Commerce Committee Chairman Jay Rockefeller, who has asked the FTC to report on its growing use.
Fraud is winning in the fight against cybercrime. Why? Because financial institutions continue to rely on ineffective technology and controls, says fraud analyst Tom Wills says.
"Once you identify that person based on the unique characteristics of their face, you could then match it with other databases," privacy advocate Beth Givens says, referring to privacy gaps created by facial recognition technology.
Facial recognition technology could prove to be an effective way to authenticate individuals seeking entry to secured buildings or databases storing sensitive information. But the biometric technology already is being abused, and IT security managers employing facial recognition should be careful to encrypt the...
A new concept called Privacy by Redesign, by Dr. Ann Cavoukian, Privacy Commissioner of Ontario, Canada, looks to bring privacy into systems that are already developed.
RSA customers who feel victimized by last March's breach of the security vendor's computers have viable options that include continued use of the SecurID authentication tokens, those offered by competitors, or something entirely different: biometrics.
The non-standardized collection device is responsible for 13 percent of the biometric records maintained by DOD, representing some 630,000 DoD records that cannot be searched automatically against FBI's database of about 94 million records.
"Multifactor authentication is perceived by many as being the panacea," says Rik Ferguson of Trend Micro. "[But] the real problem is: We're not authenticating the right things."
A preliminary draft of new online authentication guidance from the Federal Financial Institutions Examination Council puts greater responsibility on the shoulders of financial institutions to enhance security.
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