As we become more mobile in our computing activities from banking, shopping, working and education, cyber crime is also increasing and costing individuals and businesses billions of dollars each year. According to the DOJ, in the past two years, it is estimated that over 11.7 million Americans were victims of identity theft.
Even the FBI reports that “identity theft has emerged as a dominant and pervasive financial crime that exposes individuals and businesses to significant losses and undermines the credibility and operation of the entire U.S. financial system.”
One of the reasons this is happening is the security and management, rather lack of management, of passwords by only requiring a single layer to protect data which makes it very easy for cyber criminals to gain access to systems and devices. The White House has created a new program, National Strategy for Trusted Identities in Cyberspace (NSTIC), where they are working to create an Identity Ecosystem which will utilize trusted credentials to prove the identity of the person gaining access.
Creating a secure environment for protecting data from physical assets to cloud computing also creates a higher level of needing security-related statutory and regulatory requirements, standards and best practices. Over the past two decades, IT management has paid more attention to protecting the systems that store the data than identifying “who” is accessing them.
BSI offers a scalable solution for mobile and cloud computing vendors by authenticating the “who” is using credentials to log into the system or device as demonstrated in this illustration.
There are numerous laws and regulations that require a “stronger” password, i.e. Multi-factor Authentication(MFA):
- DEA, DHS
- Higher Education Act
- HIPAA, SOX, GLBA
- HSPD 12, M11-11, FICAM
- 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
- Federal Information Security Management Act (FISMA) certification for cloud computing
Biometric Signature ID has met such standards and requirements for providing a multi-layer, credential that exceeds the national standard by a factor of three. Following the guidance standard found in the US Electronic Code of Federal Regulations 21 C.F.R. 1311.116 regarding two-factor identification, BSI meets the requirement:
“Any biometric that meets the criteria found in 21 C.F.R. 1311.116 may be used as the biometric factor in a two-factor authentication credential used to indicate that prescriptions are ready to be signed and sign controlled substance prescriptions. The use of biometrics as one factor in the two-factor authentication protocol is strictly voluntary, as is all electronic prescribing of controlled substances.”
Third party testing by The Tolly Group also reports that their “Testing demonstrated that BioSig-ID accuracy rates meet or exceed key industry standards for authentication such as US electronic code of federal regulations 21 C.F.R. 1311.116.”
Jeff Maynard CEO of Biometric Signature ID Participates at IDESG Conference for Online Privacy
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 [...]
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