Bradley attorney Erin Illman was quoted in the Credit Union Journal on the security risks associated with biometric technology. More and more financial institutions are becoming interested in techniques such as facial recognition and fingerprint scans to reduce the risk of fraud. However, there are still cyber risks with biometrics.
Illman explained that hackers can still cause problems with the additional layer of security.
“If someone is able to hack a system and get in between the security layer between the biometrics and the system that the end-user is accessing, there could still be vulnerabilities there,” Illman noted.
To guard against this, she recommends that additional security protocols be implemented such as dual-authentication, multi-factor authentication and even multiple biometric authenticators.
Illman also cautions institutions to be conscientious in disclosing to consumers how personal data will be collected.
The complete article, “Want to Compete With the Big Banks? It’s Biometrics or Bust,” first appeared in the Credit Union Journal on January 30, 2019.