The world has seen the demand for rapid digital transformation in the past years. At the same time, it increased the reliance of businesses on digital networks and other technology tools. However, cybercriminals have become motivated to commit fraudulent deeds such as breaching corporate accounts and stealing sensitive personal data.
While companies heighten their attention on cybersecurity measures and infrastructures by IT teams, cyberattacks remain a threat as criminals become more sophisticated in committing cybercrimes. This Identity Management Day 2022, individuals and entities must remember how vital properly securing and managing the digital identities of employees and customers is.
Identity Management Day was established to educate leaders, business leaders, IT decision-makers, and the public about the significance of managing and securing digital identities. Its importance is further heightened with the growth of threats and their complexities at an alarming rate.
As the world takes on a more intricate digital ecosystem, the security industry approaches related to protecting its assets are also shifting. Considering the dynamic digital environment and the increase in devices, applications, and other digital tools, ensuring a secure online identity verification became more difficult, especially when protected by traditional solutions.
Having said that, organizations must leverage strong customer authentication solutions to access and verify digital identities. The use of traditional knowledge-based verification methods like passwords is similar to openly inviting cybercriminals to commit fraud.
Furthermore, as digital identity comprises unique and sensitive data, it makes sense to consider a knowledge-based authentication alternative like biometric verification making it harder for criminals to bypass security measures. Biometric authentication is by far the most accurate and secure way to verify identity and to know if the person behind a transaction is legitimate.
Accordingly, biometric authentication also protects digital identities from cybercriminals hoping to steal identities through smishing, phishing, and other social engineering attacks.