ShoCard’s Platform Combats Mobile Hijacking
Recent news shed light on a new data breach trend: mobile hijacking. Hackers are finding new ways to exploit phone numbers that are being used in two-factor authentication (2FA), exposing the weaknesses of two-factor authentication, and unveiling the need for a more secure way to protect data.
If you’ve ever used your mobile phone number to help reset a password, you’ve used 2FA. Essentially, hackers will call Verizon, T-Mobile U.S., Sprint and AT&T, asking them to transfer a person’s phone number to a device the hacker has in their control. With this powerful tool in hand, the hacker can then reset the passwords of every account that uses the phone number as security backup – such as Google or social media accounts.
Unfortunately, 2FA is essentially a band-aid over the existing 40-year old, long outdated username and password paradigm. It was only a matter of time until hackers found a way to compromise and circumvent 2FA as well.
ShoCard’s platform utilizes both multi-factor authentication and blockchain technology to protect personally identifiable information (PII) in a way that is virtually unable to be compromised or hacked. The technology is especially useful to call center authentication, as call centers, such as the ones contacted for hijacking purposes, require know your customer (KYC) checks prior to being able to assist a customer.
– Using public/private key encryption and data hashing, ShoCard securely exchanges identity information.
– Out-of-band communication and data matching, along with implementing multiple private keys and hashes throughout the process creates a strong multi-factor authentication process that is immune to mobile hijacking.
– Blockchain allows ShoCard to create a secure, distributed trust system that cannot be hacked, modified or deleted.
Businesses aren’t immune to mobile hijacking, either. ShoCard’s new enterprise solution, ShoBadge, offers information verification and employee authentication through its revolutionary platform.
For even more information on ShoCard and ShoBadge, request a demo by contacting [email protected].