Since time immemorial, passwords have been the cornerstone of cybersecurity, but sadly, their relevance is fading. With the rise in cyber-attacks, scams, and money laundering, our trusty old passwords just won’t cut it anymore. They are either being reinforced with extra security measures or phased out altogether.
Thankfully, new, smarter ways to protect your data are stepping in, offering a more secure and reliable alternative to traditional passwords.
Passkeys
A passkey is a password-free login that’s simpler and safer than your usual password. Unlike a password, which can be compromised by hackers, passkeys are created using encryption and safely stored on your device.
When you log into an app, your phone or trusted device acts as the authenticator, verifying who you are without exposing any personal info. It works with two cryptographic keys: one public, stored on the website, and the other private, locked away on your device.
Authentication happens only when you approve it with biometrics or a PIN. Thanks to this feature, passkeys are usually resistant to phishing. Plus, you won’t have to go through the hassle of keeping track of your complex passwords.
Multi-Factor Authentication (MFA)
When you log into a site or app, you usually need a username and password. However, with multi-factor authentication, security is significantly enhanced. You’ll have to jump through one or more hoops to prove who you are before getting access. This is especially common in avenues where cash transactions are prevalent.
With the rise of gaming and the ownership of in-game assets, this security measure is becoming increasingly common on these platforms. It’s particularly useful in online gambling, where players spend on games and criminals are eager to take advantage.
Cybercriminals often exploit weaknesses in online casino systems through brute-force attacks, credential stuffing, phishing, keylogging, and man-in-the-middle tactics. Many trusted online casino sites are boosting their security through this authentication method.
Typically, they combine several authentication methods, including a password, an SMS or email code, and biometric options like a fingerprint or retinal scan. With this extra layer of protection, even if a hacker gets your password, they won’t get far without proof, like a one-time code sent to your phone.
Behavioural Biometrics
Thanks to behavioural biometrics, your small interactions with your device can now grant you access to certain applications. These vary from keystroke patterns, to swipe and touch analysis, and even mouse interactions.
We all have our style when it comes to using different platforms, and this becomes the baseline for building trust. If something feels off in a session, like it’s not quite the way you normally interact, it gets noticed and dealt with quickly.
It may sound like something out of science fiction, but it has already been implemented and is widely regarded as one of the safest authentication methods. In fact, companies like Atos and LexisNexis Risk Solutions are already pouring loads of cash towards this avenue and selling these solutions to major financial institutions.
Single Sign-On (SSO)
Single sign-on (SSO) makes logging in a breeze by letting you sign in once and gain access to multiple apps without needing to log in to each one separately.
It saves you from the hassle of remembering countless usernames and passwords, making life a lot easier. With fewer logins to deal with, you’re more likely to create stronger passwords too.
From an IT point of view, SSO boosts security by letting administrators enforce advanced authentication methods across multiple apps without having to update each one individually. Plus, using trusted vendors’ authentication systems means better protection for your data. That said, some older apps may not support SSO, which can make things tricky.
One-Time Passwords (OTP)
A one-time password (OTP) works much like single sign-on, but with a twist. You create a username once without a password, and every time you log in, a one-time token is used to verify your identity. This makes it far more secure than regular passwords, since these tokens can’t be reused.
Most tokens are time-sensitive, changing every 30 to 60 seconds, keeping you one step ahead of potential threats. Add in push notifications, and you’ve got an extra layer of defense.
Whenever you log in from a new device, you get a notification, giving you the chance to approve or deny the login.
Google Authenticator is a prime example, generating these time-based passwords and offering a level of security far beyond SMS-based two-factor authentication, which is more vulnerable to SIM-swapping attacks.
A Safer Online Space
We spend most of our time online, and our experience must be as seamless as possible. While passwords are unlikely to disappear in a flash, it’s clear we are headed towards a password-free future, and we should embrace it.
