Reports have surfaced that Swiss mobile phone operator, Swisscom, suffered a breach of its data systems late last year, compromising the contact details of about 800,000 customers.
Commenting on this, Lisa Baergen, director at NuData Security Inc., a Mastercard Company, said “Although Swisscom reports that no credit card or payment information was exposed, having your name, address, and date of birth stolen can still cause problems. Cyber criminals use this information to create a complete profile of customers. Add a little social engineering, and they can start cracking all types of accounts and even open up accounts in consumers’ names.
Protecting data from breaches is becoming increasingly challenging. The millions of personal data records exposed only in the last months put all companies at risk of account takeover fraud. To turn it around, companies can implement intelligent ways to authenticate their customers. It is not enough to verify users by their personally identifiable information (PII) to access an online account, as this is so widely available – and low cost. Companies need a security intelligence that can evaluate not just the data but also the user behaviour through passive biometrics.
Behavioural-based authentication methods are proving to be extremely efficient in tackling this threat and keeping consumers’ accounts safe. Multi-layered solutions that evaluate the user’s behavior give a true insight into who is behind the device – and provide high accuracy on whether it is the consumer or a cyber criminal using consumers’ correct credentials.”