Freely subscribe to our NEWSLETTER

“The embarrassing hack of PayPal/iTunes accounts once again highlights the weakness of fixed passwords and shows how vulnerable these services are to attack. It is clear that hackers are using increasingly sophisticated methods to steal account details yet amazingly these high profile brands just seem to shrug their shoulders and simply ask users to change their password. This does nothing to prevent the same thing happening again in the future and keeps playing into the fraudsters hands.

“If these online service providers want to stay at the forefront of industry innovation they must look at implementing more secure, easy-to-use and cost effective solutions such as software-based one-time passcode systems, which help avoid the embarrassment caused by attacks such as this and the associated loss of user confidence. These systems ensure that if a user inadvertently enters their details into a phishing site the fraudster cannot use the stolen password or PIN because it has already expired.”

Stephen Howes, CEO of GrIDsure