Tyfone Connected Smart Card Solution Fixes Cyber Security and Biometric Vulnerabilities

Tyfone Connected Smart Card Solution Fixes Cyber Security and Biometric Vulnerabilities

Tyfone, a mobile financial and security pioneer with more than 80 granted and pending patents, today unveiled its Connected Smart Card (CSC) solution – a combination of hardware products, software solutions and hosted services – that enables financial, government, healthcare and other enterprises to augment passwords and other user ID information used to access sensitive information. Tyfone’s CSC solution uniquely combines centralized data with local, device validation to strengthen and simplify the centralized storing of passwords, credit card numbers and other digital ID credentials, optimally ensuring security to keep passwords, payment and biometric ID information out of the hands of cybercriminals.

Tyfone Connected Smart Card Solution Fixes Cyber Security and Biometric Vulnerabilities

“Criminals have always robbed banks because ‘that’s where the money is,’ but today’s cybercriminals prefer the centralized databases that store individuals’ passwords because with passwords they can loot literally millions of bank accounts and credit card numbers, steal sensitive government and corporate data, and hack critical infrastructure such as power grids,” said Dr. Siva Narendra, CEO of Tyfone.  “Recognizing this threat, Tyfone worked closely with our financial and government customers to implement our CSC technology, a next-generation cyber security solution that enables the locally-secured, hardware-enabled storage of passwords, card preset payment information, biometrics and other ID credentials to keep criminals and hackers at bay.”

Tyfone’s CSC solution operates much like the traditional plastic smart card systems already in widespread use, but has a much smaller physical footprint and uniquely has the ability to connect to any mobile device, tablet or PC. Tyfone’s CSC hardware works with all existing software, smart card applets, password schemes and digital certificates, making it the first truly interoperable solution that secures the device, the identity and the transaction, controlling access to ID information in a unique combination of distributed and local (on device) layers.  This unprecedented approach allows for seamless integration with organizations’ existing smart card-driven security solutions, maximizing investments in security infrastructure.  The end result is that Tyfone’s CSC solution ensures that employees, consumers and other end-users can securely access their bank accounts or email, pay online as a card preset transaction or enter a building without the vulnerability that comes with today’s centralized storing of passwords or biometric IDs. 

New Data Security Approach Necessary for Increasing Cyber Attacks

Cyber security is a critical and growing concern for governments and financial institutions as access to sensitive information and financial transactions are increasingly done via mobile devices and websites, which utilize password protection.  Of particular concern is the security of these passwords, which are stored centrally – and increasingly in the cloud – making these databases vulnerable and tempting targets for hackers.  According to Deloitte, one of the top auditing and consulting firms worldwide, 90 percent of centrally-stored passwords are currently vulnerable.  Additionally, according to Wired Magazine, more than 280 million stored passwords have been compromised over the past 18 months.

Though further bolstering authentication through the use of thumbprints and other biometric IDs has been touted as a solution, the reality is that biometric credentials are unique, sensitive, personal information and therefore actually more vulnerable than passwords, if centrally stored in the cloud.  This greater vulnerability is because a person’s thumbprints and other biometric data cannot be changed if stolen, whereas passwords can be changed after a breach has occurred.

“While cloud services increase productivity by allowing for ubiquitous, anywhere access, centralized data create centralized points of failure,” said Dr. Steve Crocker, Tyfone advisory board member and an Internet Hall of Fame inductee for his work that lead to the development of ARPANET, a precursor to the Internet.

“There are two solutions to this centralization problem. One option, as more services move to the centralized cloud servers is to migrate identity storage to be client centric. This client-centric approach helps prevent a single hack from compromising millions of identities, like recent hacks of Zappos.com or LinkedIn," added Crocker. "The other alternative is to have a completely distributed storage that syncs up between various authenticated clients without any centralized storage. This distributed approach also prevents massive loss of data from a single hacking event. In either case, information and/or control of access to information is distributed, making the authentication solution more robust.”

CSC Availability and Incorporation into Existing Systems

Tyfone’s CSC solution is currently in pilot deployments for strategic customers with general availability planned for the fourth quarter this year. Organizations interested in joining the pilot or integrating Tyfone’s CSC solution with their own security products can contact Tyfone at csc@tyfone.com.

Featured

  • ISC West Is Two Months Away

    ISC West Is Two Months Away

    The annual “vacation” to Las Vegas is less than two months away. I anticipate it will be an amazing show, and furthermore, I expect the show hall to be teeming with interested security professionals. Read Now

    • Industry Events
  • Security Today Launches 2023 Government Security Awards

    Security Today Launches 2023 Government Security Awards

    Security Today is proud to announce the launch of the 2023 Government Security Awards. The Govies honor outstanding government security products in a variety of categories. For this year’s awards program, participants can choose from 38 different categories to enter their product(s) into. Read Now

  • Back to the Basics

    Back to the Basics

    Security is a continuous evolution of practices and procedures. The developments in technology and advancements in threats make security difficult at times. Although security from one location may look different from another location, there is a common goal applied to security measures. The common goal is protection. Read Now

  • The Top Three Security Trends in 2023

    The Top Three Security Trends in 2023

    As security technology has become more widely used, the interest in new capabilities and increased security measures has increased. As we head into 2023, these three trends will shape the security landscape. Read Now

Featured Cybersecurity

New Products

  • Paxton10 CORE Cameras

    Paxton10 CORE Cameras

    The new CORE Series cameras feature edge processing for ultimate scalability, built-in edge storage, and plug-and-play installation. The addition of the CORE Series gives installers new hardware, better choice, and more value than ever before. 3

  • D-Tools System Integrator (SI) Software

    D-Tools System Integrator (SI) Software

    D-Tools Inc. has announced the availability of System Integrator version 16, which adds powerful new project and service management capabilities to its award-winning, end-to-end business management solution. 3

  • ALTO Neoxx Electronic Padlock

    ALTO Neoxx Electronic Padlock

    Built to withstand all access control needs, the tough new SALTO Neoxx electronic padlock takes security beyond your expectations. 3