Eliminate Risk Factors and Secure Your Data

March 02, 2011  |   BSI Product Overview   |     |   0 Comment

How do you know if you need to take steps to secure access to your information? The Federal government suggests that you implement a Multi-Factor Authentication (HAK) program like the one available with BioSig-ID™. What are risk factors you should be aware of?

  • > 1 employee
  • You have something valuable on your computer
  • Your computers running slow or erratic
  • You have competitors
  • Your business is moving too fast to keep up maintaining your computers
  • You have secrets that you don’t want others to know
  • You have employees personal health care information anywhere in your company
  • You have multiple company locations or offices or virtual employees
  • Someone purchases goods and services from you online

What is HAK - Multi-Factor Authentication

What is HAK? – Multi-Factor Authentication

Cost of Identity Theft

According to a recent report by Javelin Strategy & Research, the average out-of-pocket expense for victims has increased 63% from $387 per incident in 2009 to $631 in 2010.

The Javelin report also found that “friendly fraud” grew 7%, that’s theft by someone known to the victim and the study shows that the average age of victims is between 25 to 34 years old.

Other Identity Theft Statistics

  • 38-48% of victims find out about the identity theft within 3 months of it starting
  • It can take 4 years or longer for 9-18% of victims to discover they are victims
  • Identity theft victims spend from 3 to 5,840 hours repairing damage depending on the severity of the crime – i.e. a lost credit card versus the use of your social security number
  • The Aberdeen Group has estimated that $221 billion a year is lost by businesses worldwide due to identity theft and that
  • 40% of business costs for individual cases of identity theft exceed $15,000
  • 43% of victims believe they know the person who stole their identity

Information At Risk: Classified, Private, Personal, Healthcare

Organizations that are driving the market to use Multi-Factor Authentification (HAK) Standards:
  • DEA, DHS
  • Education Act
  • FFIEC
  • HIPAA
  • SOX
  • GLBA
  • Specter-Leahy Data Privacy & Security Act 2007
  • Online Child Protection Act
  • 44 State Privacy Laws
  • Age/verification/ for Social networks regulations
  • Payment Card Industry (PCI)
  • 21 CFR Part 1
  • Bill 198 Canada
  • ISO 7099 Best IT practices

Leave a comment









Industry Use Cases

Latest News

  • Jeff Maynard CEO of Biometric Signature ID Participates at IDESG Conference for Online Privacy
    05/10/2013

    Jeff Maynard CEO of Biometric Signature ID Participates at IDESG Conference for Online Privacy  Dallas May 10, 2013. Biometric Signature ID (BSI) CEO Jeff Maynard attended the Identity Ecosystem Steering Committee Group (IDESG) meeting this week to take part in discussions about online privacy and its continuous importance in cyberspace.  The meeting held in Santa [...]

  • NSTIC-led ID plan earmarks $4 million to secure state government services
    04/03/2013

    The two-year-old initiative to create an identity layer for the internet is backing a set of projects aimed at creating identity-based security to support state and local government services online. Read More

  • Gesture Recognition & Touch-less Sensing Market Worth $12.21 Billion by 2018
    04/03/2013

    According to a new market research report Gesture Recognition & Touchless Sensing Market (2013 – 2018): By Technology (RFID, IR, Capacitive); Product (Biometric, Gaming, Smartphone); Application (Healthcare, Consumer Electronics, Automotive); Geography (Americas, EMEA, & APAC), the total touchless sensing and gesture recognition market is expected to reach $15.02 billion by 2018 growing at a CAGR of 34.94% from 2013 to 2018. [...]

  • Two-Step Verification Will End Consensual Impersonation
    04/03/2013

    A couple of months back, I advocated killing your password policies and applying some other techniques instead to make existing use of passwords more effective (including my hobby horse: take the user-experience sting out of rotating ordinary static passwords by pushing them out to users on an alternate channel, à la activation codes and other [...]

  • Click and Go Vote: PA politician proposes online registration
    04/03/2013

    HARRISBURG — It’s possible in these days of instant connectivity to monitor nearly every financial, physical and social transaction using the Internet – from banking to travel, and from dieting to dinner reservations. Read More