Tag Archives: otp
Could A One Time Password Already Be Securing Your Industry?
Technology affects every aspect of our life, especially our security. Luckily there is always new technology being created to help keep our lives more secure. As our lives become digitized it seems that more and more sensitive information is being added to databases connected to networks or accessible from the web. This raises a red flag to anyone who has been affected by identity theft or fraud. With all of our personal data being stored in so many places it would seem that we more vulnerable to malicious attacks than ever. However this is not true, as technology begins to change the way we interact and share information it is also changing the way we secure our data.
Two- factor authentication utilizing a one-time password is technology that has been around for decades although the need for such security has risen lately. With many industries going paperless and wireless it opens the gate for hackers to siphon private data. Industries such as education, financial services and healthcare are all in need of higher security since they deal with important information that must be kept confidential.
OTP in Education
The education industry has been utilizing electronic records for a long time to manage students. These records are stored on a computer that is connected to a network for administrative use, the very same network that students are accessing from their laptops, tablets and smartphones.
Even on a password secured network these records are vulnerable since you do not need to be extremely computer savvy to use a key logger. Any student could simple attach a device to their teachers computer or install malicious software that operates discreetly behind the scenes to log keystrokes. Potentially stealing their teachers login credentials and gaining access to confidential information.
Any agency collecting, maintaining and storing sensitive information is responsible for managing that data responsibly as stated in “The Family Educational Rights and Privacy Act” also known as FERPA. With security being their government appointed responsibility and malicious attacks becoming easier to perform, many education agencies are securing their confidential information with two-factor authentication through a one-time password.
OTP for Financial Services
Identity fraud is most apparent in the financial services industry for a good reason, it deals directly with money. Just like everything technology has affected the way we bank with online banking being offered by almost every bank. However this poses a threat to client identities. To keep account holders secure a one-time password is used to keep online banking customers safe by authenticating a user when they log in from different IP addresses. Two-factor authentication is also used to identify an account holder at almost every point of transaction through a bank card and PIN.
OTP in Healthcare
The healthcare industry is facing many changes in the future from regulations demanding increased security of patients confidential information. With more sensitive data being readily available over the internet for physicians the need to secure that information is extremely critical. Authorization to access a patients medical record is crucial and a one-time password provides that security by identifying the physician, issuing the OTP and allowing a single sign on. Even on mobile devices such as laptops and tablets, zero footprint security can allow access to records without leaving any data on the device.
Transmitting data securely is the future of security in almost every industry. Info is power and with almost every industry moving over to wireless interaction between tablets, laptops and smartphones hackers are using technology against us to gain power. Securing that information through two-factor authentication and one-time password services is the future of technology in order to protect the same users it was put in place to help.
Could A One Time Password Already Be Securing Your Industry?
Technology affects every aspect of our life, especially our security. Luckily there is always new technology being created to help keep our lives more secure. As our lives become digitized it seems that more and more sensitive information is being added to databases connected to networks or accessible from the web. This raises a red flag to anyone who has been affected by identity theft or fraud. With all of our personal data being stored in so many places it would seem that we more vulnerable to malicious attacks than ever. However this is not true, as technology begins to change the way we interact and share information it is also changing the way we secure our data.
Two- factor authentication utilizing a one-time password is technology that has been around for decades although the need for such security has risen lately. With many industries going paperless and wireless it opens the gate for hackers to siphon private data. Industries such as education, financial services and healthcare are all in need of higher security since they deal with important information that must be kept confidential.
OTP in Education
The education industry has been utilizing electronic records for a long time to manage students. These records are stored on a computer that is connected to a network for administrative use, the very same network that students are accessing from their laptops, tablets and smartphones.
Even on a password secured network these records are vulnerable since you do not need to be extremely computer savvy to use a key logger. Any student could simple attach a device to their teachers computer or install malicious software that operates discreetly behind the scenes to log keystrokes. Potentially stealing their teachers login credentials and gaining access to confidential information.
Any agency collecting, maintaining and storing sensitive information is responsible for managing that data responsibly as stated in “The Family Educational Rights and Privacy Act” also known as FERPA. With security being their government appointed responsibility and malicious attacks becoming easier to perform, many education agencies are securing their confidential information with two-factor authentication through a one-time password.
OTP for Financial Services
Identity fraud is most apparent in the financial services industry for a good reason, it deals directly with money. Just like everything technology has affected the way we bank with online banking being offered by almost every bank. However this poses a threat to client identities. To keep account holders secure a one-time password is used to keep online banking customers safe by authenticating a user when they log in from different IP addresses. Two-factor authentication is also used to identify an account holder at almost every point of transaction through a bank card and PIN.
OTP in Healthcare
The healthcare industry is facing many changes in the future from regulations demanding increased security of patients confidential information. With more sensitive data being readily available over the internet for physicians the need to secure that information is extremely critical. Authorization to access a patients medical record is crucial and a one-time password provides that security by identifying the physician, issuing the OTP and allowing a single sign on. Even on mobile devices such as laptops and tablets, zero footprint security can allow access to records without leaving any data on the device.
Transmitting data securely is the future of security in almost every industry. Info is power and with almost every industry moving over to wireless interaction between tablets, laptops and smartphones hackers are using technology against us to gain power. Securing that information through two-factor authentication and one-time password services is the future of technology in order to protect the same users it was put in place to help.
How Can an Out of Band One Time Password Secure Information
Usually during the two-factor authentication process a one-time password is used to verify the users identity. This secures authentication by asking for multiple criteria to be met such as something you know and something you have. Something you know being your traditional username and password and something you have being your OTP or one-time password. However during transmission of this one-time password a hacker could still intercept the data to gain access if the OTP is not sent to an out-of-band network.
One-time passwords come in many forms from something as simple as a sheet of codes to the more advanced propriety key generating tokens. Many times for information that is not an extremely high security risk the OTP will be sent via email to the user for identification. This is not an out-of-band solution because the email can be received on the same network as the login panel.
The problem with sending the second factor in the authentication process to a solution that is not out-of-band is that easy to use and readily available software makes it easy to intercept information including the users one-time password. With an out-of-band solution the user would need to receive their OTP on a separate network than their login panel. One way is through proprietary tokens that generate dynamic one-time passwords. However tokens be pricey and can create havoc when lost or misplaced.
Another less expensive and more reliable device would be the users mobile phone. Since we are a society who must be connected to our mobile phones constantly a user will not forget their device and the chances of the device being broken are much lower. Also the devices network is completely out-of-band from any login panel.
Securing authentication by sending the one-time password through an out-of-band network protects the user from malicious software as well as misplacement of their device. This makes it very hard for a novice hacker to gain access to confidential information or networks and ensures the user will receive their OTP when they need it.
The only way to become more secure once you already utilize an out-of-band OTP for two-factor authentication is if it is a zero footprint solution. Zero footprint authentications allow the one-time password to be sent without leaving any trace of the authentication or password behind on the device. Ultimately securing the authentication process completely from internet or network based attacks.