Panera Bread this week became one of the latest companies to suffer a data security incident. The company names change but the stories remain the same.
Customers have had their information leaked because of the poor security procedures of companies transacting online, who continue to rely solely on plain-text identifiers and static data such as credit card numbers, passwords and even simple customer names and phone numbers.
The most proven and effective solutions for protecting customer are readily available and increasingly widely implemented.
They include multilayered security solutions that incorporate verification via passive biometrics, without adding friction, by evaluating a consumer’s inherent behavior online during the transaction process.
This field-proven approach lets the company confirm that a consumer is legitimate or a would-be fraudster before loss to the company can occur, even if the correct data, perhaps stolen, was used.
And it also prevents the company’s reliance on the sort of personally identifiable customer data that’s once again been leaked.
Ultimately, the shift to more advanced multilayered solutions will, over time, render stolen information valueless to cybercriminals, as passive biometric verification defies use by third parties.