Online security pointing at fingerprints

In just one year almost ten million American adults were victims of identity fraud/theft. Over 12 months this activity cost the US $52.6 billion. With hackers and fraudsters becoming more aggressive and sophisticated isn’t it about time that banks and financial institutions consider how biometrics really can help in the war against identity theft fraud?

When signing into online banking you are asked for a series of unique codes created by you or the bank. Each organisation has different ways in which they will ask for this information – whether it be the whole code or just several random digits from it. A customer is usually asked for their date of birth or a memorable word they have chosen. Once this information is given the customer has full access to their account details, balance and many other things as well as the option to transfer funds. Although the information may be unique to the person it is not hard for other people to find these questions out and simply have full access to your account details. Banks know that their customers’ account login information can be vulnerable and they seek to improve security, but can they do more now?

UK and international banks have added additional security measures for their online banking customers. For example HSBC gives all of their customers the choice of downloading Rapport, their personal anti-virus software which authenticates websites and their security certificates and warns you if they are unsafe before you submit your password. Barclays, NatWest and Lloyds have given all internet banking customers ‘card readers’ meaning that the card being used to transfer money has to be entered into this and the customer has to enter their pin number before any money can be transferred. Many customers see these as an inconvenience but agree to use them because they believe they are using their personal details more securely.

With all these security measures in place why are there still high levels of identity theft and fraudulent activities happening? It’s simple because pin numbers, card readers, secret answers and unique codes can all be stolen.  Thieves will continue to find ways around even the strongest of security measures except the only thing that can’t be stolen, you. By finding the genuine article of authentication there will be no need for pins, codes and questions – only your fingerprint.

Which of these seems the likeliest to protect your information securely?

·         Something you may know – a pin code, a sequence of numbers and letters, a password?

·         Something you may have – an ID card, a token, a passport?

·         Something you are – a fingerprint, your voice, your signature?

A fingerprint, a voice, a signature can be copied, but with effective sensor and reading technology forged copies can be detected and rejected. The Connective Touch range of fingerprint reading solutions from Global Bio Tec can identify a forged or fake fingerprint and will deny access to fraudsters and thieves.

The logical application linked to governmental imperatives to minimise welfare benefit fraud is to consider introducing fingerprint biometrics to make sure that welfare payments are paid to those who are entitled to them. The savings on fraud and administration costs could be immense!

Are Biometric ATM Machines The Answer To Identity Theft?

Skimming involves the use of devices that fit on the ATM card slot and read information off a card’s magnetic strip. A small camera on or around the ATM records PINs as customers press the keypad.

Skimming is the latest threat in the identity theft war. Two men in Chicago have recently been arrested for rigging bank ATMs. ATM’s that usually have a fake cover or card slot put into them are more often found more commonly in stand-alone ATM’s or ATM’s in convenience stores.  In an article on tampabay.com John Joyce, special agent in charge of the US Secret Service Tampa field office advises, “Use legitimate bank ATMs. If possible go inside the bank and use the one inside the bank.”

But should we take after Poland’s BPS SA bank who set a European, and Western milestone, by installing a biometric ATM in Warsaw? Given the financial situations in Greece, Spain and Portugal in recent weeks the Euro Zone has plenty of reasons to be down on itself but Poland is showing a financial-sector first this week, becoming the first European country to install a biometric ATM.

The machine reads your fingerprint as opposed to the magnetic strip on a cash card. All that is needed to withdraw money and access personal information is your fingerprint and your pin number. Is this the answer to identity fraud involving ATMs?

The biometric ATM has been designed to only accept the fingerprint of a living human being. This makes it impossible for people to use a copy. As shown in many movies and often mentioned in tests of biometric devices a copy of a fingerprint, fake hand containing the fingerprint of someone else, or in extreme cases the hand or finger of a dead person cannot be used. Not only do these machines take a copy of the fingerprint they also detect the pulse from the finger which is recorded with the image.

The sensor technology employed by Global Bio Tec in its Connective Touch range of fingerprint

reading access control systems can't be fooled as it takes a scan several layers underneath the skin. The fingerprint often associated with criminality is turned the tables on those engaged in identity theft.