The Power of Knowledge Based Authentication In Layered Security

  • Security

After the hacking incidents at Bradstreet, Lexis Nexis and Kroll Background America (three major data aggregators that maintain records on millions of Americans), there has been a rise in concern about KBA and its effectiveness. Knowledge based authentication (KBA) is a tool that verifies an individuals identity. Databases, such as those listed above, become more targeted by criminals as they grow.

These specific hackers specialize in trafficking personally identifiable information on the black market through an operation known as SSNDOB. They provide reliable personal data on U.S. residents and credit checks to customers for an inexpensive cost. With these compromises in data, several industry leaders are saying that organizations shouldnt rely on KBA to verify identity.

There are also concerns that criminals can get their hands on anyones KBA or identity information though various black market exchanges. However, there is nothing being said that KBA has been weakened because of these compromises. The tools and layers of security are what determine protection and fraud prevention. We recommend a combination security strategy that consists of solutions such as dynamic KBA, drivers license verification, high-risk alert, residence verification and history and much more.

Layering fraud and security solutions will enhance your organizations database. If you feel KBA alone may be vulnerable to criminals go beyond compliance guidelines and improve your fraud prevention strategy. Trust us, its worth the investment to protect your data.

[Contributed by EVS Marketing]