Biometric is a Good Security Measure, But It Could Be More Than You Think
Since biometric was brought to light, most companies want to use it as it is considered one of the safest methods of authorizing payment deals, and it’s true.
Now, the reason why biometric is considered one of the new and safest payment authorization is that you can’t guess it, forget it, or you can’t lose it as you have usually lost your passwords every time.
Even though the biometric system is safe, there are smarter fraudsters who will always do anything to find a better way to defraud people. These fraudsters rely on the latest technologies to hack your privacy. If you feel insecure, try using cash advance – it’s better than the other methods of payment.
You might think that the unique features that a biometric system has like your voice, fingerprint, faces, and irises to protect your privacy is fool-proof. Sadly, they are not. Fraudsters will always find their way out.
Are you safe with your iPhone 5s? Recently, a high-profile hack was revealed where some fraudsters caricatured an iPhone 5s touch ID within a few days after it was released. The fraudsters used a high-resolution photo to unlock the iPhone 5s soon after it’s release. It’s something that has shocked many, with questions still being asked.
After this incident, it means your privacy isn’t guaranteed, especially with the paper trail of information that you always leave behind. In such cases, fraudsters can obtain biometrics and use it to defraud you when you did not think of it. So, you need to be your keeper too.
Even though new features are coming up to make biometric usage safe, fraudsters are always prepared with better alternatives. They will stop using the old-school methods people already know and start using more advanced hacking methods to defraud people. In short, the more technology is advancing, the more fraudsters are becoming smarter. Below are some biometric hacks you should know:
Coercion: Yes, biometric may work in most cases, but fraudsters may opt to charm or brute force you to make transactions when you didn’t mean to.
Impersonation: One of the examples was presented above – the case of fraudsters using biometric to spoof someone. This is, therefore, one of the best ways fraudsters will use to complete their mission.
Impersonation using body parts: Maybe they will switch to it if payment channels have become a hard nut for them to crack. But, some tests now show that this method may not work for the fraudsters in most cases – unless on less advanced systems. So, financial institutions must upgrade their systems.
Biometrics should not be viewed as a direct replacement but as an additional solution. It’s convenient, but still not perfect because it has some loopholes that the fraudsters are already aware. It is, therefore, your responsibility to be your keeper as the first caution.
Author Bio: As the FAM account executive, Michael Hollis has funded millions by using cash advance solutions. His experience and extensive knowledge of the industry has made him finance expert at First American Merchant.