This study, commissioned by TeleSign and conducted by Lawless Research, benchmarks the status of consumer account security in the United States. The report describes consumers’ account security practices, their exposure to security incidents and their expectations for companies to protect their mobile and online accounts. Data are drawn from an online survey of 1,300 adults conducted in September 2016.
Beyond the Password: The Future of Account Security
Commissioned by TeleSign and conducted by Lawless Research, “The Future of Account Security” report surveyed 600 security professionals across 15 industries in the U.S. and revealed that securing consumer accounts is a top concern for businesses.
Key findings include:
Trust in passwords is waning, most companies plan to do away with them
Poor security can lead to increases in fraud, having multiple impacts
Behavioral biometrics and 2FA increase account security and are on the rise
Meeting EBA Guidelines for Internet Payment Security With Mobile-Based Authentication
It is imperative that Payment Service Providers (PSPs) and financial services providers deploy strong customer authentication solutions that meet the European Banking Authority’s (EBA) guidelines, prevent attacks and provide a frictionless experience for the customer.
This white paper, from research and consultancy company Goode Intelligence, explores the implications for PSPs of European Payment Authentication and Security Guidelines.
The Fraud Report: How Fake Users Are Impacting Business
Together, with privacy and information security research firm Ponemon Institute, TeleSign’s new “The Fraud Report: How Fake Users Are Impacting Business” highlights the average economic value of a company’s user base and the possible financial and brand damage if fraudsters are allowed to create fake users and wreak havoc.
This new report highlights:
How allowing fake users helps sow the seed for other cybercrime
Total cost allocated to respond to spam or fraud by fake users
Difficulty of suspending an account that has been identified as spam
Important factors to an organization’s authentication process
TeleSign has commissioned a study that quantifies consumers’ concerns about online security and their exposure to breaches. This report describes the actions they are taking—or not taking—to protect themselves, and reveals how poor password management and single-factor authentication create the potential for widespread security incidents due to data breaches and other issues in today’s threat landscape.
Online security is a serious issue that is top of mind for consumers
In the wake of hundreds of millions of personal records being stolen through an increasing number of well-publicized hacks:
80 percent of consumers are worried about their online security
45 percent are extremely or very concerned about their accounts being hacked
40 percent have experienced a security incident in the past year
Consumers are primed to fall victim to the domino effect due to poor password practices
One of the most common and dangerous security mistakes is using the same password across multiple accounts. If hacked, it can cause a “domino effect,” allowing all accounts with the same password to be breached.
73 percent of online accounts use duplicated passwords
Password fatigue is common.
More than half of consumers (54 percent) use five or fewer passwords across their entire online life, while 22 percent use just three or fewer
Almost half (47 percent) of consumers rely on a password that hasn’t been changed for five years
People have lost faith in the password to secure their online lives and report wanting more security and advice to stay protected
70 percent of consumers lack a high degree of confidence that their passwords can adequately protect their online accounts.
68 percent want companies to provide an extra layer of security
72 percent would welcome advice on how they can better protect their online accounts.
More than half of people (56 percent) are unfamiliar with two-factor authentication
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