In the last few months, it has become nearly impossible to read a magazine or watch television without coming across a story about identity theft. Identity theft is causing a significant amount of angst among consumers and businesses alike.
Identity theft is an issue causing growing concern among security professionals and consumers alike. While the media and lawmakers on Capitol Hill highlight the problem on a consistent basis, real world solutions that organizations and individuals can employ to protect themselves from identity theft are rarely discussed.
FOR – Bruce Schneier, CTO, Counterpane Internet Security Recently, I published an essay arguing that two-factor authentication is an ineffective defense against identity theft. For example, issuing tokens to online banking customers will not reduce fraud, because new attack techniques simply ignore the countermeasure. Unfortunately, some took my essay as a condemnation of two-factor authentication…
The total cost of U.S. identity fraud in 2004 was $52.6 billion, with 11.6 percent of stolen identity information obtained online, according to Javelin Strategy & Research and the Better Business Bureau. The proliferation of online applications providing access to confidential identity data has magnified vulnerabilities that are not adequately addressed by traditional network security techniques. The following policies, procedures and systems are recommended to implement a security program for online applications.