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<p><img src="/assets/images/miracl-blog-hacker.jpg" alt="Hacker" title="Hacker"></p> <p><strong>Last month I highlighted the concerning rise in fraudulent log-ins and the huge increase we have seen in credential stuffing. Not good. Today we consider account fraud take-over. Juniper Research estimates the total cost of account takeover will have reached $25.6 billion in 2020. This is over a 50% increase from the $16.9 billion loss of 2019 and a 500% increase from the cost of $5.1 billion in 2017.</strong></p>…

<p><img src="/assets/images/miracl-blog-cryptography-keys.jpg" alt="Secret Keys" title="Secret Keys"></p> <p><strong>Cryptography is all about keys, and it is usually assumed that a large random number would make a good key. Your cryptographic security depends on how hard it is for an enemy to guess this key. If you consider a password as a cryptographic key, we all know that large and random is best - the National Cyber Security Centre (NCSC) recommends using 3 random words.</strong></p> <p>Clearly an obvious class of weak keys would be keys that are simply too short. For this reason the commonly used AES (Advanced Encryption Standard) uses at a minimum 128-bit keys, far too big to be guessed. And the AES has no weak keys, each possible key is as good as any other.</p>…

<p><img src="/assets/images/miracl-blog-210128-data-privacy-day.jpg" alt="210128 Data Privacy Day Logo" title="210128 Data Privacy Day Logo"></p> <p><strong>Today, Thursday 28th January is International Data Privacy day. Historically, this has caught little attention but I hope and believe that its significance and profile might grow in the future.</strong></p> <p>For the last two decades, online media has focused on the development of ever more intrusive and detailed online user profiling. Its purpose was both to ensnare users in a dopamine-craving bubble and then empower advertisers to exploit the resultant glued audience with micro-targeted messages precisely optimised to convert.</p>…

<p><img src="/assets/images/miracl-blog-intergence-systems-limited-logo.png" alt=""></p> <p><strong>This month we’re delighted to announce details of a brand new partnership with Intergence Systems Ltd – a Cambridge based IT Infrastructure consultancy.</strong></p> <p>The deal will see MIRACL Trust® integrated into Stratiam – Intergence’s well-regarded IT platform, which works by providing the user with a bird’s eye view of an organisation’s entire IT infrastructure whilst enabling them to delve into specific elements as needed.</p> <p>Using AI to solve complex problems much faster and more cost-effectively, Stratiam correlates data from multiple sources and presents a unique, single view of a companies IT infrastructure. Users can literally access their data at the push of a button, but having the right authentication process in place – that is both secure but seamless to use – is a must.</p>…

<p><img src="/assets/images/miracl-blog-hacked.png" alt="You Have Been Hacked Terminal Text" title="You Have Been Hacked"></p> <p><strong>In my previous blog last month, I highlighted how easily our credentials were sold on the dark web – and shared some alarming stats in relation to online consumer fraud and identity theft, particularly in relation to account takeovers. Today we assess the current rate of credential stuffing and question why this is continuing to increase at an alarming rate.</strong></p> <p><strong>What is the current rate of credential stuffing?</strong></p>…

<p><img src="/assets/images/miracl-blog-solarwindsbuilding.jpg" alt="SolarWinds Building" title="SolarWinds Building"></p> <p><strong>When it comes to Cyber Sec the old saying runs true - You shouldn’t put all your eggs in one basket.</strong></p> <p>Sometimes that advice is ignored, with very poor outcomes - such as a basket full of broken eggs. In the world of Cyber Security this advice is particularly important, and is precisely why all expert opinion converges on recommending multi-factor authentication. If one basket gets compromised, you still get an egg for breakfast.</p>…

<p><img src="/assets/images/miracl-blog-agt-2020-logo-v.2-web.png" alt="MIRACL & AGT Logos" title="MIRACL & AGT Logos"></p> <p><strong>MIRACL announces new international Partnership with AGT</strong></p> <p>MIRACL today announces a new, exciting partnership with AGT – a leading cyber security solutions provider with a significant presence in the Middle East and Africa. Forging this new agreement will provide exciting opportunities for both organisations – MIRACL to reach out to new geographical regions, and AGT to capitalise on providing the ultra-secure MIRACL passwordless authentication solutions to its customers.</p>…

<p><img src="/assets/images/miracl-blog-for-sale-sign.jpg" alt="FOR SALE - CREDENTIALS" title="FOR SALE: Hacked online identities - get started for free!"></p> <p><strong><em>The last few months have seen some truly alarming stats in relation to online consumer fraud and identity theft, particularly in relation to account takeovers. In this three part series we’ll take a closer look at Credential Stuffing, a very common, high volume, automated bot attack.</em></strong></p> <p><strong>It’s all about authentication</strong></p> <p>Across new account registrations, payments fraud and attacks on the account login, two thirds of attacks are now directed at account login. Authentication really is the battleground in safeguarding the security and data privacy of online consumers.</p>…

<p><img src="/assets/images/miracl-blog-cohort-18-social-media-graphic.jpg" alt="Mayors International Business Programme Participants and Partners" title="Mayors International Business Programme Participants and Partners"></p> <p><strong>MIRACL are pleased to announce that they have today been accepted onto London & Partners ‘Mayor’s International Business Programme’ for 2020, as part of cohort 18.</strong></p> <p>Rob Griffin, CEO at MIRACL comments, “To have the opportunity to be part of this latest cohort is ideal timing for MIRACL and we are delighted to have been accepted onto the Mayor’s International Business Programme. The increased risk to businesses as regards cyber security off the back of the pandemic this year has really accelerated the need for organisations to re-asses their authentication processes. To be able to use the network from the Mayor’s International Business Programme will help us accelerate our provision to organisations across the globe as we head towards 2021.”</p>…

<p><img src="/assets/images/miracl-blog-authentication.jpg" alt="Authentication Collage" title="Authentication Collage"></p> <p><strong><em>Are you in the process of reviewing your authentication procedure for your customers? Struggling to determine the most effective solution for your needs? Need top notch security but an easy experience for your customers? Look no further. We’re here to help.</em></strong></p> <p>We’ve liaised with our team of cyber experts, including the very credible cyptographer Dr Michael Scott, to come up with a shortlist of good things to consider as you do your research.</p>…

<p><img src="/assets/images/miracl-blog-biometric.jpg" alt="Eye Scan Biometric"></p> <p><strong><em>Biometrics are increasingly popular as a method of authentication. But are we all aware of the threat they bring. Could the Biometric Apocalypse one day become a reality? I hope not.</em></strong></p> <p>Biometrics are all the rage. They displace passwords and PINS, and all you have to do is smile at your device to be recognised and allowed immediate access to all kinds of Internet based services. User Experiences don’t get any better than that. For improved security a biometric is most often part of a multi-factor authentication scheme.</p>…

<p><img src="/assets/images/miracl-blog-secret.jpg" alt="Three People Keeping A Secret" title="Three People Keeping A Secret"></p> <p><strong><em>Today’s blog is written by our Chief Crypto Officer and expert Dr Michael Scott who shares his thoughts on to how to keep a secret - and more importantly how it assists when it comes to reliable and highly secure authentication.</em></strong></p> <p>Many people think that cryptography is just about encryption. But saying that cryptography is just about encryption is rather like saying that geography is just about mountains. (What have mountains got to do with cryptography? See below…). At a second attempt people might say that cryptography is about keeping secrets. But that is not strictly true either. For example a blockchain doesn’t encrypt anything, and requires no secrets. But a crypto currency is certainly an application of cryptography.</p>…