Many financial services firms stopped kidding themselves about passwords a long time ago
"The march toward really effective user authentication has taken much longer than it should have. And that is true for all industries.
Just last year about 85% of data breaches were enabled by compromised passwords. Most attacks were external, but nearly 25% of them came from inside the organization.
Early replacements for passwords or methods of fortifying passwords helped for a while, but fraudsters quickly found ways of getting around them. In fact, the relentless ingenuity of cybercriminals in spoofing new security measures continues to frustrate firms that are still attempting to cope with what I would call half-measures..."
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