Uncategorized · 13.04.2022

Biometric Security & Correct Password Management in Fintech

Biometric Security & Correct Password Management in Fintech

Dr. Mohamed Lazzouni, Chief Technology Officer, Aware, talks which security measures are proving most popular among fintechs and why

How Password Managers Work (Explained)

How do password managers work? In this video, we will explain everything you need to know about password managers.
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We will also share some of our favorite password managers at the end. So, watch this video till the end, and don’t go anywhere!

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We all know how annoying it is to memorize passwords. A lot of us have used pretty basic passwords at some point in our lives, just to be able to remember.

According to research, weak passwords are one of the major reasons behind the never-ending occurrence of Cyberattacks.

The bad guys (a.k.a hackers) just capitalize on the fact that most people don’t bother creating strong, difficult-to-guess passwords for their online accounts.

To be fair, it’s not easy to memorize all your passwords these days, especially as we live in a time when people need to create more online accounts than ever.

But why does anybody even have to memorize dozens of passwords when there are excellent password managers out there?

With their ability to create, store, and retrieve your passwords on-demand, Password Managers are designed to save you from the unnecessary brain exercise that is memorizing passwords.

Rather than learning all your login credentials for every site, you only need to remember your master password. And with the autofill feature, you can easily log into your online accounts without any stress.

If you’re using a desktop-based Password Manager, your passwords will be stored in a secure vault on your device.

However, losing this device means you’ve lost your passwords. That means you can’t access your passwords from any other device.

That’s why experts recommend cloud-based Password Managers instead. Unlike desktop-based managers, they store your data on the network of the service provider. It means you can access them from any device as long as you have an internet connection.

But let’s find out more details in the video.

And if you have any opinions or questions about Password Managers, kindly share them in the comments below.

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Securing Your Digital Life? What are Password Managers?

In the series “Securing Your Digital Life” we discuss common means of improving cybersecurity for your daily digital lifestyle. In this short video we provide a non-technical overview of passwords and their use in authentication, the importance of their uniqueness across accounts, and the use of password managers as a means of not only creating very strong passwords, but also how they assist you in remembering all of those unique and complicated passwords.

The intended audiences for any students who are interested in making their digital lives more cyber secure.

This video is brought to you by the National Cybersecurity Training and Education Center (NCyTE) through funding from a National Science Foundation Advanced Technological Education Grant (#1902329).

TOP 7 FINTECH TRENDS IN 2022 | Tech Tuesday Ep. 78

These are seven key trends we are seeing in fintech in 2022. Probably the most important trend is number seven as it has the biggest potential impact on the industry and your product.

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Download our slide deck which explores DevOps and the huge positive impact it can have on your development project



00:00 Introduction
00:45 Biometric security
02:14 Digital wallets
03:39 Internet of Things
04:45 Robotic Process Automation
05:57 Blockchain
07:42 Neobanks
09:06 Regulation
10:52 Conclusion

Biometric “Security” Is NOT Secure

Biometric security is strong and unique. But what happens if somebody steals your faceprint or fingerprint? You are compromised everywhere for the rest of your life.

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The whole promise of biometric security stands and falls on how easy it is to replicate and abuse biometric modals. And the short answer is – it’s a cat and mouse game. On the long enough timeline, someone will be able to recreate a copy of your face or fingerprints that works just fine enough to fool authenticating systems. Once your biometric data is compromised, it affects all applications at once and you will be affected for the rest of your life.

Sources (in chronological order):

Entropy https://security.stackexchange.com/questions/144428/how-secure-is-a-fingerprint-sensor-versus-a-standard-password
Biometric data compromise https://securelist.com/biometric-data-processing-and-storage-system-threats/95364/
CCC group tricking Apple Touch ID https://www.ccc.de/en/updates/2013/ccc-breaks-apple-touchid → video https://vimeo.com/75324765
German minister fingerprint https://www.theguardian.com/technology/2014/dec/30/hacker-fakes-german-ministers-fingerprints-using-photos-of-her-hands
Kaspersky report https://threatpost.com/threatlist-a-third-of-biometric-systems-targeted-by-malware-in-q3/150778/
Taylor Swift using facial recognition https://www.nbcnews.com/tech/tech-news/facial-recognition-tech-used-scan-stalkers-taylor-swift-show-report-n947581
Vimeo law suit over facial recognition https://threatpost.com/vimeo-slapped-with-lawsuit-over-biometrics-privacy-policy/148695/
Researchers bypass Apple Face ID https://threatpost.com/researchers-bypass-apple-faceid-using-biometrics-achilles-heel/147109/
Another bypass of Face ID https://www.usenix.org/conference/usenixsecurity16/technical-sessions/presentation/xu
Android face unlock features suck https://9to5mac.com/2018/03/23/face-id-premium-android-fingerprint-sensors/
U.S. Office of Personnel Management data breach https://www.opm.gov/cybersecurity/cybersecurity-incidents/
1 million fingerprints lost in a UK data base https://www.theguardian.com/technology/2019/aug/14/major-breach-found-in-biometrics-system-used-by-banks-uk-police-and-defence-firms
Airline data breaches https://www.cpomagazine.com/cyber-security/airline-data-breaches-worrying/
False rejection and false acceptance https://biometrictoday.com/10-advantages-disadvantages-biometrics-technology/
and this: https://protonmail.com/blog/biometric-authentication/
Passwords are better https://securelist.com/biometric-data-processing-and-storage-system-threats/95364/
Government can abuse Face ID, Touch ID

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