IT professionals are fixated on perimeter security measures such as firewalls, antivirus protection and content filtering, and are ignoring more important security considerations, suggest the findings of a Gemalto-commissioned survey.
Polling a little over a thousand IT professionals around the world, the survey found that 76 percent had reported that their companies had increased investments in perimeter security, yet 68 percent said that they thought unauthorized users could still gain access to their networks.
Thirty-two percent of the respondents said their organizations don’t encrypt payment data, and 35 percent said they don’t encrypt user data in general. Fifty-five percent said they didn’t know where such data is stored.
The responses paint a dismal portrait of the state of enterprise security at a time when the protection of sensitive data is an increasingly key concern. Just this week, a provider of smart vending machines reported that it had suffered a data breach compromising customer data including biometric credentials.
Meanwhile, the European Union’s General Data Protection Regulation will come into effect next May, with 53 percent of respondents in the Gemalto survey saying that they don’t think their organizations will be compliant in time. That could prove costly for the businesses and, in the event of hack attacks, their customers.
Source: MobileID World
Jumio has announced the partnership with digital bank Monzo, to verify new users and support know-your-customer (KYC) requirements.
Monzo will use Jumio’s Netverify to help verify customers who are moving from its prepaid card service to a full current account. This will enable the bank to comply with KYC requirements while removing the manual verifications from Monzo employees.
Jumio’s solution will also be used to verify existing prepaid card consumers and new people signing up for Monzo’s current accounts.
Jumio is an identity verification and credentials company that helps businesses reduce fraud. The company utilises proprietary computer vision technology to reduce customer sign-up and checkout friction.
“In a statement announcing the biometric smart card, OT-Morpho emphasized its use for everyday EMV payments…”
OT-Morpho has officially announced its biometric payment card solution at this week’s Money20/20 Europe expo.
Money20/20 Europe: OT-Morpho Unveils Biometric Payment CardThe card features NFC technology for contactless payments, and is EMV compliant. Of course, the standout feature is its embedded fingerprint sensor, with the card using OT-Morpho-developed algorithms to confirm the cardholder’s identity, and biometric data stored securely on the card.
In a statement announcing the biometric smart card, OT-Morpho emphasized its use for everyday EMV payments, but also noted that could be used to “help governments distribute social benefits, knowing that they reach no one else than the eligible (proof of life) citizen.”
The company did not mention the source of the card’s fingerprint sensors, but it’s worth noting that Mastercard’s trials of biometric payment cards earlier this year used a fingerprint sensor provided by IDEX together with technology supplied by Safran Identity & Security, which has since merged with Oberthur Technologies to form OT-Morpho.
Source: MobileID World