Older, more traditional digital security systems use the familiar technique of password authentication. As long as the correct password is given, access is granted. However, in today’s business world, password systems are increasingly more vulnerable and prone to theft and intrusion. Fortunately, passwordless authentication systems are now widely available, and there are four major benefits, according to Entrepreneur.

Theft Reduction

When businesses use passwords, this system, especially if there is only a single point of authentication, is more vulnerable and can lead to more intrusions. Phishing and even brute force attempt like guessing at commonly used passwords all lead to break-ins which can result in identity theft and even stolen data or funds.

Passwordless authentication systems significantly reduce this chance of theft.

Negate Password-Based Attacks

Some of the most common forms of digital crime include “phishing,” which tricks victims into giving up their password, and “keylogging,” which is spyware that monitors what keys are being pressed on a keyboard. Passwordless authentication, however, completely nullifies any criminal attempts reliant on password-based activity.

Techniques such as biometrics that use facial, fingerprint, voice recognition, and passkeys, which rely on encrypted keys embedded in specific devices, are part of the new multifactor authentication system that repels all password-based attempts at theft.

Lower Expenses

Little things add up over time and the amount of time. The expense of handling issues related to password-based security is an unnecessary expenditure that can be reduced or eliminated through passwordless authentication.

Password storage and, more importantly, password administration can be costly. There are also time and financial expenses involved with password resets, password recovery, and dealing with the fallout of password theft when criminal activity occurs. Passwordless authentication reduces these expenses.

Improved User Experience

Customers prefer speed, efficiency, and convenience, but older password-based systems can impede all this. Having to remember complex passwords or managing a number of them can slow down log-ins, especially when customers can’t remember and need a reset to access their own data.

Passwordless authentication is faster, safer, and more convenient. Biometric authentication, for example, requires only what a user always has, such as their voice, fingerprint, or face. This means there is never a question of forgetting an important security element. With additional redundancies, such as passkeys for multifactor authentication, these systems can also be much more secure for everyone.

Increasingly more secure systems are evolving thanks to adopting FIDO technologies that use passwordless authentication systems. If you’re interested in how you can upgrade to passwordless authentication systems, read here to learn more.

Virtual private networks, or VPNs, offer a convenient technology solution for some computer users. With VPNs, users can create private, encrypted “virtual networks,” which are more secure than standard open networks and also provide a measure of anonymity. 

For example, one of the most common uses of VPNs is for global users to disguise a VPN as an American network and sign up for American versions of services that may differ from their local offerings. Similarly, using VPNs to fool a computer into believing the user is in another location unlocks different pricing tiers and schemes for airfare, resulting in paying lower airfare if an online vendor believes a user resides in one country versus another.

However, while this anonymity and extra level of control do provide additional cybersecurity, according to TechTarget Network, VPNs are still a less secure option to new protocols such as SDPs and zero-trust networks.

What Is An SDP?

SDP stands for software-defined perimeter. A typical network defines its “border” or “perimeter” through hardware. Printers, phones, security cameras, and even appliances are all detectable hardware that can be discovered and used to define and attack the perimeter of a network. A software-defined perimeter or SDP is like software “invisibility,” that hides all the hardware aspects of a network, rendering them invisible to conventional means of network detection.

As a result, typical cybersecurity threats such as server scanning, SQL injection, and denial of service are largely negated because these techniques can’t see or exploit an SDP. This is a big differentiator from a normal VPN, which, while encrypted, still runs on normal, unencrypted networks that are vulnerable to conventional cybersecurity attacks.

The Zero Trust Difference

In older cybersecurity practices, one verification is typically required at the beginning of a session and, once authenticated, grants full access. “Zero-Trust networks,” however, work on a different philosophy. Multiple authentications can be required for various interactions, and access to other parts of a network is often very limited, mitigating the amount of damage an unauthorized user can inflict, even if barriers to entry are bypassed.

This combination ensures that an SDP with a zero-trust network protocol is much more secure than a VPN alone. However, an SDP system is flexible enough to accommodate VPNs within its own network, adding even greater layers of cybersecurity for those needing it.

These measures and others, such as FIDO technologies that use passwordless authentication systems, are improving security, and you can read here to learn more.

Kevin Mitnick was a hacker that was eventually charged and prosecuted for wire fraud crimes. However, he left that life behind and began a career as a cybersecurity consultant for clients as prestigious as the US government and as well-known as Microsoft. He used those years of experience as a criminal to show others how to defend themselves against digital intrusions. According to CNBC, he has three important strategies for anyone interested in better cybersecurity.

Disciplined Password Management For CyberSecurity

For anyone that is still relying on passwords, while it may be inconvenient, the best way to increase security while still using these systems is to use “strong passwords.” Strong passwords are random strings of alphanumeric characters, making them impossible to guess.

The best way to handle multiple strong passwords is to use a password management system. Relying on an easy-to-remember or guess password or using the same strong password repeatedly leaves the user vulnerable to password theft.

Upgrade To NextLevel Multi-Factor Authentication

For those who want to take things a step further, switching to multi-factor authentication systems adds extra security layers. Traditional passwords have only one point of access. Producing the correct password grants total access. Multi-factor, as the name implies, adds additional layers of verification.

Multi-factor authentication can use additional variables, such as requiring an extra code inputted that is sent via text over a phone. Or it can eliminate passwords and codes, relying on biometrics such as voice, face, or fingerprint recognition and encrypted passkeys tied to a specific device such as a phone or laptop.

Isolated Devices

For the ultimate in security, a final tip, specifically relating to financial or other confidential data, is investing in specific devices used only for that purpose. This means buying a phone, tablet, laptop, or desktop computer and using only that device to access financial data, store confidential data, or even exclusively log into financial or confidential accounts on these devices.

While this is a more drastic method, having dedicated devices for protected data increases security by 98%. If these devices are never used for everyday computing activity and only ever activated and utilized for important data-related interactions, the odds of theft are dramatically lower. However, this does require more time and investment.

For most people, the more practical system is upgrading cybersecurity to a multi-factor authentication system, such as the standardized protocols used and offered by the FIDO alliance. If you’re interested in using the FIDO protocol and moving to a passwordless authentication system, read here to learn more.

Since the dawn of business, banking has been one of the services that have required the most security. Whether preventing physical cash from being robbed or ensuring that cheques are legitimate, banking relies on trust and security to facilitate financial transactions.

Now, in a digital age, where identity theft is an ongoing concern, the traditional password system is losing its luster, and more banks are turning to more advanced security systems like passkeys.

What Is A Passkey?

A traditional password is a single security point. If a user knows the required password and inputs it correctly, access is granted to a device or account. A passkey is a multifactor authentication system that uses more than one means of verification. Passkeys are password free, usually requiring a device such as a smartphone or a laptop to act as a primary interface and Bluetooth proxy when needed. This means that a user will first access their phone using different means, such as facial recognition, a fingerprint, voice recognition, PIN, or even a swipe pattern to validate their device. 

Once this is done, the device then uses additional verification through a Bluetooth connection that sends a unique “public key” to the account associated with that device and matches it with a “private key.” This portion of the verification is done automatically, with no additional actions required from the user. Once the keys have confirmed validity, the user may now access the account from that device. If the user needs to use another device, the QR code is required to transfer verification processes to that new device instead of using the primary one.

More Safety

The convenience and security of a passkey system is an effective alternative to traditional password systems. Groups like the Fast Identity Online or FIDO alliance have worked closely with major technology companies such as Apple and Google to integrate the standards and protocols for passkey systems and make multifactor authentication an easier and more secure means of securing data. 

The use of more than one verification system, combined with password-free authentication systems like biometrics, means users no longer have to memorize long, difficult strings of random alphanumeric characters. Storing the biometric data on a device such as a phone or a laptop also ensures that the data itself remains private and the credentials can’t be stolen online. If you’re interested in passkey systems for agile, increased security integrating a more convenient password-free verification system using FIDO standards, read here to learn more.

The United States relies increasingly on mobile devices like smartphones to send and receive data, and this meant that a need for wireless data transmission similar in volume to wired Internet connections has come into greater demand. The result is that the 5G wireless network, the latest, fastest, and largest data transmission standard, continues. The largest telecommunications companies, such as Verizon and AT&T, continue their rollout, with an estimated coverage of 175 and 100 customers. However, this also means that more security will also be required as more data is transmitted across 5G networks. And zero trust policies, with convenient password-free authentication systems, will be critical to this success.

What Is Zero Trust?

As the name implies, “zero trust” security means making no assumptions about the validity of a person or device attempting to access data and requiring multiple stages of verification and authentication throughout every step of login and transaction. This has become even more prevalent in recent years as the pandemic forced many companies to keep workers at home, using home devices, and in some cases, even their own smart devices, to remotely access data. This meant that some of the usual trust mechanics, such as knowing a valid user was correctly accessing the network because they could be physically seen at their desk, on their office computer, accessing data locally stored on that device, could no longer be taken as givens. Now, workers needed to be able to access data remotely from any number of locations and devices, making authentication of legitimate users a priority.

One of the hallmarks of zero trust protocol is constant verification. It is not enough to accept a password of biometric authentication once and then turn a blind eye to whatever that user does for the remainder of the transaction period. Verification is an ongoing process for different actions; thus, password-free authentication systems are important in streamlining this process.

Another important aspect of the zero trust approach is “limiting the blast radius.” A security protocol is extremely vulnerable if it assumes no breach will ever happen and thus has no contingencies in place if one occurs. Zero trust protocols take breaches of some kind as a given and compartmentalize access and activities so that even if a breach occurs, it can be quickly contained and quarantined, rather than allowing a single breach to gain complete, centralized control of an entire system.

If you are interested in zero trust security concepts and incorporating FIDO protocol into a password-free authentication system, read here to learn more.

While passwords and knowledge-based access (KBA) were once the herald of cybersecurity, the evolution of technology and the proliferation of digital connectivity are slowly making passwords a thing of the past. Passwords have become a nuisance for both users, employees and IT personnel, causing frustration as users struggle to remember passwords that they need to update regularly, while costing organizations millions of dollars in OPEX and lost productivity and revenue during password recovery and resets – both behind and outside the enterprise perimeter. Passwordless authentication can help avoid this.

4 Tips For A Frictionless Transition To Passwordless Authentication

NokNok Inc has been a pioneer of passwordless authentication, encouraging organizations and enterprises to shift to improve their cybersecurity. Plenty of enterprises have started to invest in passwordless authentication but this transition can be challenging. The following tips can help for a smoother enterprise transition for everyone involved.

Manage Passwords As Best As You Can

Don’t rush the transition. If your organization must use passwords for the next few years, simply do your best to keep passwords safe. Password managers continue to be funded and enterprise versions can help prevent password loss while keeping passwords safe. Password managers offerempowering features that help employees create unique and complex passwords without the fear of forgetting them . Many offer extensive support for both web and mobile app authentication as well – including web browsers.

Multifactor Authentication Is Important

Multifactor authentication (MFA) is a great way to ease employees into passwordless technology. MFA is the next natural step for enterprises who cannot entirely shift users and employees to passwordless yet. Most passwordless platforms can be integrated into existing security infrastructure and can offer MFA combined with modern biometric authentication since most devices already offer native biometric features.

Use True SSO To Centralize Authentication

True SSO is another step that can ease the transition to passwordless authentication while improving security. True single sign-on (SSO), offered in the cloud, allows users to log on to devices and platforms using only a single set of access credentials. Modern passwordless systems also provide wide support for SSO infrastructure.

Be Realistic With Passwordless Authentication

While passwordless is definitely the future and now here to stay, it will likely take many more years before the world’s digital services become fully passwordless. Don’t expect your entire organization or your customer base to go fully passwordless in a matter of years because many are still not comfortable with biometric-based authentication. Be realistic about the changes that you can make because it is fully possible to improve security with a move toward passwordless authentication without burdening IT departments with sudden changes to their security infrastructure.  Most enterprise infrastructures and the complex ecosystems with which they are connected, are still entirely based on password and KBA. Digital transformation projects can last years to finish migration.

Nok Nok Inc offers a range of passwordless authentication, payments and transaction verification feature that meet your organization’s B2C passwordless needs where you are. We support for and integration with existing multifactor authentication for customers who are not yet ready to entirely adopt biometric-based passwordless authentication. Organizations who have shifted to our services saw 50% reduction in customer onboarding time and a staggering 78% increase in sign in customer sign-inspeed. Harness the phishing-resistant customer security offered by NokNok’s passwordless technologies. Learn more about Nok Nok Inc’s products here.

2022 has been a tough year for crypto investors as blockchain platforms have been targeted by cyber attackers left and right. A total of $1.4 billion has been lost due to these attacks. Ronin, a bridge that supports Axie Infinity, has lost $615 million; Wormhole, a bridge backed by Jump Trading, lost $320 million; Horizon, a bridge by Harmony, lost $100 million; and around $200 million was stolen from Nomad.

How Were Blockchain Networks Hacked?

Cyberattackers exploit vulnerabilities in blockchain technology, specifically blockchain bridges and humans. Blockchain bridges are a type of software through which people send out tokens from one blockchain network to another. Bridges, being the piece of code that enables smart contracts to execute without human intervention, typically hold large values being transferred from one network to another. Without adequate security, these bridges are easy targets.

Although transactions must first be approved by validators to become successful, hackers are able to manipulate validators into handing over their private keys or compromise only a few accounts to withdraw funds. Bridges are central to blockchain technology, which is why their increased vulnerability is a major cause for concern.

Another way hackers steal funds is through human vulnerability. Some rely on social engineering tricks to convince a victim to send funds to them. Another method is by simply stealing cryptographic keys or private digital signatures, the access for which they gain  through apps, wallets, and other third-party vendors that authenticate users to their digital services via legacy authentication. In other words, password-based authentication.

Eliminating The Human Risk Factor With Passwordless Authentication

Cryptocurrencies are continuously expanding, and blockchain technology grows with it. Despite the advanced technology with which blockchain technologies operate, cybercriminals are still able to find ways in through something as basic as a password login.

Passwords have long been a favorite vulnerability of cyber attackers. Both methods used by cyberattackers of blockchain networks succeeded through compromised phishing and man-in-the-middle attacks resulting in stolen passwords. With the increased interconnectedness of systems nowadays, even a technology as sophisticated and secure as decentralized blockchain requires strong, passwordless authentication,  because of its distributed access.

Unphishable, key-based passwordless authentication is one way to elevate the security for blockchain networks across all platforms, especially third party applications. Nok Nok Inc, along with the global industry group (FIDO Alliance) they founded are on a mission to reduce people’s reliance on extremely vulnerable legacy password and knowledge-based system access.

Passwordless authentication is a possession-based and biometric authentication technique that relies on public-private cryptography. It generates a public-private key pair—the public key is shared with a service while the private key remains safe in the user’s device, protected by a PIN or biometrics. This system is incredibly convenient for end-users, as well as safe.

You can strengthen your cybersecurity with Nok Nok’s passwordless authentication system. To learn more about Nok Nok Inc’s industry-leading FIDO platform, contact us here.