Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

Fighting Biometric Fraud on the Blockchain

By Alastair Johnson
October 01, 2018

Biometrics may seem like a high concept to many people. Retina eye scanners and handprint door locks evoke images of Netflix sci-fi dramas, but biometric technology is taking place right now. From facial recognition airport security, the latest iPhone fingerprint sensor to desktop computer software, biometric authentication uses unique facial, retinal or fingerprint recognition to confirm a user's identity, and is being increasingly used to establish bank payments and online transactions.

From an online security perspective, the days of weak passwords such as “Password123” and “qwerty2018” are nearly over. Single-factor authentication is vulnerable to phishing attacks and malicious malware, even two factor SMS authentication is proving insecure. From this perspective, not only are traditional passwords obsolete and inefficient, but they also pose a huge cybersecurity risk.

The Decline of the Password

Weak online security has led to severe data breaches in the past few years. With hackers operating on the dark Web for serious money, card data theft is a commonplace occurrence. In 2013, retail giant Target Corporation was subject to a malware hack that compromised 40 million customer credit and debit cards. Hackers were able to gain access to Target's internal network by infiltrating a third-party contractor. The data breach ended up costing the corporation a reported $148 million, according to The New York Times.

This premium content is locked for Cybersecurity Law & Strategy subscribers only

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473

Read These Next
The DOJ's Corporate Enforcement Policy: One Year Later Image

The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.

The DOJ's New Parameters for Evaluating Corporate Compliance Programs Image

The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.

Use of Deferred Prosecution Agreements In White Collar Investigations Image

This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.

Bankruptcy Sales: Finding a Diamond In the Rough Image

There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.

Compliance Officers: Recent Regulatory Guidance and Enforcement Actions and Mitigating the Risk of Personal Liability Image

This article explores legal developments over the past year that may impact compliance officer personal liability.