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: have, and improve the process of securing the people part of information-centric security. Passwords and PINS are generally something that people either make too simple so that someone can guess them. Or they make them too complicated in which case they write them down and compromise the security,”says Vinesh Menon.
These tokens or hardware devices, that generate a new password at a pre-decided frequency, are normally used to fortify IT networks by corporate bigwigs, banks and defence establishments. And companies like RSA Security expect about 10% of the employee base of large IT services companies (employee base over 5,000) and 15% of the employees of BPO firms to use these. Besides, telcos, banks and government organisations like ministry of finance and defence and utility firms are investing in these tokens.
Interestingly, these solutions can be implemented without the hardware devices as the technology can be extended to software-based approach. Portals like Just trade are also toying with the idea of generating passwords to authenticate traders online though their smartphones. Nevertheless, tokens seem to be popular simply because these can be a great branding vehicle. And these might not be restricted to login, but some innovative brokerages could later use these to identify callers at the call centre. There will be no need to identify yourself then, but one can simply give the dynamic number and the call centre will know who the callers is.
Adoption of dynamic passwords seems to have encouraged security experts to advocate adaptive security. Trading sites can start studying unique behavioural patterns to identify anomalies. For instance, if someone always trades in late evenings and suddenly an increased level of activity is seen in that account in the morning or if the trader logs in from a different IP address, the portal could check through an alternate channel, like a pre-registered mobile phone number to authenticate that the transaction is indeed genuine. “Behavioural patterns, device recognition and nature of transaction could be good indicators, but it is early days yet as the user base is small in India,”argues Bijral. Many are also apprehensive that this could slow the speed of transactions, thus affecting traders. Clearly, brokerages need to play smart as they add security rings to draw more traders online....
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