The fact that plain passwords are no longer safe to protect our digital identities is no secret. For years, the use of two-factor authentication (2FA) and multi-factor authentication (MFA) as a means to ensure online account security and prevent fraud has been a hot topic of discussion.
Technological advances, especially in the mobile industry, have created new possibilities, and manufacturers and vendors are offering various multi-factor solutions in the domain of biometrics, physical tokens, software tokens and mobile codes.
Qatar National Bank has admitted that its systems were hacked but said that the information released online was a combination of data picked up from the attack and from other sources such as social media.
The incident would not have a financial impact on the bank’s customers whose accounts are secure the bank said, without providing details of how its systems were hacked, the possible identity of the hackers, and what information was harvested.
The number of reported breaches of organizations' data has been growing hyperbolically over the past few years, based on data in Verizon's 2016 Data Breach Investigations Report (DBIR). And a major reason for that is that many organizations are still doing security like they were decades ago. The leading cause of reported data breaches, as documented by Verizon, is "miscellaneous errors"—mistakes made by employees—that open the door to attackers.
You may want to change your Spotify password now.
A list of hundreds of Spotify usernames, passwords, account types, and other details showed up on Pastebin.com, a text-sharing site, on April 23.
The data is specific to Spotify, and TechCrunch verified that it could, in fact, log into a few of the compromised accounts. While the first possible explanation that came to our minds was "hack", Spotify denied such a data breach occurred.
With the connected world of the Internet of Things (IoT) on the rise, and expected to be an increasing focus for malware attacks in enterprises, Gartner believes worldwide spending on IoT security will reach $348 million in 2016, up 24% over 2015 spending, according to an April 25 report.
Over the next few years, IoT security spending will initially be "moderate," according to Gartner, and will rise to $547.2 million in 2018. Then it will gain real momentum after 2020, "as improved skills, organizational change and more scalable service options improve execution."