While ID and passwords have traditionally been the most popular mechanisms used in user authentication for online services, cyberattacks and associated crimes have been increasing on a global scale and the damage to the financial services sector is also expanding.
One-fourth of the data breaches in 2017 affected financial organizations worldwide 1
81% of hacking-related breaches leveraged either stolen and/or weak passwords
Identity Theft and Financial Access were the most pressing breach incidents in 2017 2
1: 2017 Data Breach Investigation Report
2: Breach Level Index