Indirect assertion of identity, science denial and ignored guidance are the cyber world’s climate change. In 2021 when the damage hits $684.5 million per HOUR, will it swallow Wall St. and the world economy? 2021 is just a few years away.
In 2001 authentication guidance recommended Multi-Factor Authentication NOT Multi-Step data gathering Authentication. The failure to follow guidance lead to an average of $68.4 million in cyber damage every hour in 2017.
A method to meet the guidance did not exist in 2001, it was aspirational…but it did in 2007. However, in 2007 solving a problem, that was deemed “manageable”, was not important. Is $600 billion in damage in 2017 still manageable? What about in 2021? The first financial services company to license and deploy an authentication solution that meets guidance has been announced.
Following guidance requires merging the endpoint, server and communication into a single interdependent process divided between the provider and a user’s device. A state-of-existence, “Presence Factor”, plus any other factor meets guidance.
If a scientifically valid authentication process is too much to expect, cybersecurity is doomed.