About Us | Contact Us
View Cart

The Risk of Convenience

By Vigilize | Thursday, August 16, 2018 - Leave a Comment

Consolidating passwords and other account information can save time, but expose you to risk…


An article review.


Given the amount of account related information that the average person is expected to keep track of–such as account numbers, passwords, PINs and secret questions–it’s no wonder that a convenience like the Fuze Card was such a success on Kickstarter. Fuze allows someone to select which account they’d like to use (from up to 30 stored in its memory) and then reprograms its magnetic strip automatically–essentially becoming the desired credit or debit card.

There’s only one catch, as detailed in an article submitted by our own Chris Dietrich: anyone who gains physical access to the Fuze card can–along with a program on their smartphone–grab all the account data stored on the card. As of the time of this review the security hole has reportedly been patched, but the story still serves as a reminder of the risks one takes when trying to combine convenience with security.

A similar story plays out when it comes to password safes: something that many people increasingly see as a necessity, but which creates a single point of failure which can expose all of your account data. While this is true even if you use an offline password safe, if you want to increase your convenience with a cloud-based safe you’re also increasing your risk.

For many people that trade-off is worth it, and if a suitably strong master password is chosen and kept secure the additional risk may be manageable. In any case, it’s something that should be considered carefully, especially if it is being used to store corporate credentials.


Original article by Thomas Fox-Brewster writing for Forbes.


same_strip_012513


 

Latest News
    Another awareness poster for YOUR customers (and users).  Now that we have our own employees aware, maybe it’s time to start posting content for our customers! Download the large versions here: Awareness Poster (Portrait) Awareness Poster (Landscape)   You are welcome to print out and distribute this around your office. Interested in one of ours […]
    Millions of phishing emails will get through automated defenses this year, are your employees ready? An article review. With cybersecurity threats such as cryptocurrency miners and ransomware seeming to dominate the news, it can be easy to forget about older threats such as phishing…but a recent report from cybersecurity firm Tessian reminds us that criminals […]
    The FFIEC’s latest guidance: The Architecture, Infrastructure, and Operations, has brought many changes to exactly how a small financial institution may look at their Technology Planning for 2022. Included in that will be the opportunity to write your first Architecture Plan and we intend to show you what may be involved in that! Have any […]
    While we’re not a news service, we often use current events to comment on trends and our services. This blog is intended to get people thinking about topics and trends in Technology Risk Management, through our article reviews, as well as through original blog articles about current events and our MSSP services (such as our […]
    Following the contribution, Have I Been Pwned will host more than 800 million compromised credentials… An article review. Have any of your login credentials been revealed in a breach?  If you’re unsure about that, Have I Been Pwned (HIBP) can help you out by letting you check against over 600 million compromised credentials…and with the […]
    infotex and Log4j We are keeping our Clients’ safety in mind. To all infotex managed security service Clients: On Friday December 10th, infotex became aware of a zero-day vulnerability in the Apache Log4j library that allows unauthenticated remote code execution. We began incident response and took steps to proactively disable potentially vulnerable applications until we […]
    Another awareness poster for YOUR customers (and users).  Now that we have our own employees aware, maybe it’s time to start posting content for our customers! Download the large versions here: Awareness Poster (Portrait) Awareness Poster (Landscape)   You are welcome to print out and distribute this around your office. Interested in one of ours […]
    Trending: Awareness Posters went “Back to Basics” Here are the top seven posters as of the last twelve months! As always, our Awareness Posters were a hit in 2021! So we decided to run some reports to see what our most popular posters were since November 2020. As everybody loves top ten lists and contests, […]
    Dan is joined by a Panel to discuss the FFIEC’s New AIO Guidance and how it may impact Technology Planning in the future.