Are passwords obsolete? Thoughts from a famous fraudster.

In the next two to three years we'll see passwords go away in a way that's long overdue.

  • When we look at online breaches, about 86 percent of the time the hacks have to do with passwords. Because of this, many security experts believe we need to move away from using them.
  • Consequently, we've now developed the technology to do just that. For instance, we now have a technology called Trusona — it stands for "true persona." The technology recognizes the individual, more accurately, based on their device.
  • Many industries are already switching to this method of identity verification. Airlines are already switching, banks are switching, universities, too, are switching.
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The hackable technology that worries even a legendary con man

Before we release new technology into the ether, we need to make safeguards so that bad actors can't misuse them.

  • Right now cybercrime is basically a financial crime — it's a business of stealing people's money or stealing their data. Data has value.
  • We develop a lot of technology — we need to always ask the question how the new innovation can be misused and make safeguards so that it cannot be done.
  • Because we currently don't do these things, we have hackable vehicles, pacemakers, and laptops.
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