The public has spoken and the demand for security has never been greater according to latest IBM Security Study.
Results from the latest IBM Security study “Future of Identity Study” has found that people now prioritize security over convenience when logging into applications and devices. The study, aimed at evaluating consumer perspectives around digital identity and authentication, surveyed 4,000 people around the world.
The increased number of cyber attacks and data breaches over the past few years has damaged the confidence humans have in the security offered by passwords, with many feeling they are no longer sufficient to protect their identities and private information. This in turn has left security ranked as the number one priority above privacy and convenience, especially when logging in to everyday applications, banking apps, online marketplaces and email.
The research also uncovered differences in opinions amongst the generations, as younger adults were found to be putting less care into traditional security methods such as passwords and instead, were more likely to use biometrics, multifactor authentication and password managers to enhance security across their personal devices and applications. Millennials, who now make up the majority of today’s workforce, were more comfortable using biometrics - with three quarters (75 percent) preferring it as a security method to using complex passwords.
However, in 2017 the number of cyber incidents’ doubled and the majority (93%) of these attacks could have been prevented had basic security measures been followed. As a result, news outlets were littered with high profile breaches of personal information like addresses, social security numbers and banking information.
This, naturally, has put immense pressure on organizations to ensure they get security right to gain the confidence of their customers. And, with GDPR looming, it’s time for enterprises to consider implementing additional layers for data security; after all, there is not one single security solution that on its own is completely fool-proof. Once authentication is breached or worked around with stolen or impersonated credentials, it becomes incredibly important to make sure the data itself is protected. Hence, this is the reason why organizations are investing in Cloud Data Protection solutions to meet the demand for comprehensive security.