Bolster account security with new solutions

Traditional passwords were a quintessential step in developing the different methods we use to access our accounts today. World Password Day, marked last May 4, serves as a reminder to organizations that although passwords were reliable in the past, it is time to bolster security solutions with more secure and robust authentication methods, like biometric authentication, to ensure that the user accessing an account is the authorized user. For example, Netflix’s seemingly controversial new password sharing policy is a best practice that all organizations should follow.

Most organizations and consumers do not realize the risk that comes with sharing passwords. If a user shares their password and the person they shared their password with falls victim to a cyberattack, that password is now compromised and can lead to the cybercriminal potentially accessing their data or their company’s data. This inadvertently causes costly data breaches and damages consumer trust.

For consumers, sharing a password may seem like a harmless way to help friends or family save money, but the best practice when it comes to passwords is to never share them. Consumers fail to realize that although they trust these individuals with their passwords, cybercriminals may gain access to their devices along with usernames and passwords that could lead to identity theft, financial fraud, and phishing attacks. World Password Day highlights to consumers and organizations alike the need to implement newer, more secure methods of authentication to safeguard their data.

Stuart Wells,

Chief Technology Officer,

Jumio