Technology affects every aspect of our life, especially our security.
Luckily there is always new technology being created to help keep our
lives more secure. As our lives become digitized it seems that more and
more sensitive information is being added to databases connected to
networks or accessible from the web. This raises a red flag to anyone
who has been affected by identity theft or fraud. With all of our
personal data being stored in so many places it would seem that we more
vulnerable to malicious attacks than ever. However this is not true, as
technology begins to change the way we interact and share information it
is also changing the way we secure our data.
Two- factor
authentication utilizing a one-time password is technology that has been
around for decades although the need for such security has risen
lately. With many industries going paperless and wireless it opens the
gate for hackers to siphon private data. Industries such as education,
financial services and healthcare are all in need of higher security
since they deal with important information that must be kept
confidential.
OTP in Education
The education industry
has been utilizing electronic records for a long time to manage
students. These records are stored on a computer that is connected to a
network for administrative use, the very same network that students are
accessing from their laptops, tablets and smartphones.
Even on a
password secured network these records are vulnerable since you do not
need to be extremely computer savvy to use a key logger. Any student
could simple attach a device to their teachers computer or install
malicious software that operates discreetly behind the scenes to log
keystrokes. Potentially stealing their teacher’s login credentials and
gaining access to confidential information.
Any agency
collecting, maintaining and storing sensitive information is responsible
for managing that data responsibly as stated in "The Family Educational
Rights and Privacy Act" also known as FERPA. With security being their
government appointed responsibility and malicious attacks becoming
easier to perform, many education agencies are securing their
confidential information with two-factor authentication through a
one-time password.
OTP for Financial Services
Identity
fraud is most apparent in the financial services industry for a good
reason, it deals directly with money. Just like everything technology
has affected the way we bank with online banking being offered by almost
every bank. However this poses a threat to client identities. To keep
account holders secure a one-time password is used to keep online
banking customers safe by authenticating a user when they log in from
different IP addresses. Two-factor authentication is also used to
identify an account holder at almost every point of transaction through a
bank card and PIN.
OTP in Healthcare
The healthcare
industry is facing many changes in the future from regulations demanding
increased security of patient’s confidential information. With more
sensitive data being readily available over the internet for physicians
the need to secure that information is extremely critical. Authorization
to access a patient’s medical record is crucial and a one-time password
provides that security by identifying the physician, issuing the OTP
and allowing a single sign on. Even on mobile devices such as laptops
and tablets, zero footprint security can allow access to records without
leaving any data on the device.
Transmitting data securely is
the future of security in almost every industry. Info is power and with
almost every industry moving over to wireless interaction between
tablets, laptops and smartphones hackers are using technology against us
to gain power. Securing that information through two-factor
authentication and one-time password services is the future of
technology in order to protect the same users it was put in place to
help.
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