Tuesday, August 2, 2016
Using Biometrics in Banking?
Scrolling through the page on Room for Debate, one discussion I found quite interesting was "Biometrics and Banking". This particularly interested me because I thought the idea of using one's fingerprints and facial contours for bank security was really fascinating. As I kept reading the debate, I came to the realization that using Biometrics for banking security or any type of security measure used to access an account is bad. However, there was one pro that caught my eye which was convenience. There have been several occasions where it took me an hour to figure out my password for my email or social media accounts. With the use of a fingerprint, it usually takes less than a minute to sign into an account. However, with the amount of security breaches that happen every now and then I realized that using Biometrics is really unsafe. Because everyone has a different fingerprint, if someone were to hack into a bank you'll be put into a really vulnerable position. A debater on the page even said that someone could 3-D print your fingerprint and use it to break into your bank account. With that being said, hackers could even sell your fingerprints and essentially steal/sell your identity. With that in mind, this made me question whether or not I should be using my fingerprint to unlock my phone. I personally would rather use a made up password than to use my fingerprint/facial recognition to log into an account. Should we incorporate Biometrics in banks? If so, how would we make sure it's safe? What are your thoughts?
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At this point in time, I would not use biometrics for something as valuable and sensitive as a bank account due to those kinds of security issues you mentioned. However, that convenience is the reason I'm willing to use it for something such as my phone that really doesn't have anything too delicate on it. What I think is more interesting though, is how this kind of technology could be improved and used in the future. If the industry finds better ways of implementing biometrics, it could potentially be even safer than the current password-based encryption technology we use today. Identity theft is still a problem today with or without biometrics, and improvements in biometrics (or maybe some completely unknown future technology) could possible reduce or even end identity theft in the future.
ReplyDeleteWhen I first began reading your post, I thought 'Why would biometrics be a bad thing?'. It was after my reading that I came to the conclusion that I do indeed agree with you. The fact that someone can 3-D print your fingerprint is scary. Banking security should not be taken lightly in the twenty first century as many store their life savings within the banks. Biometrics should not be incorporated in the banking system because fraudulent activity could become more common and the consequences of tampering with an economic activity could effect families around the world. The only way to make it safe would be to require an additional verification method other than a fingerprint. The use of iris recognition would ensure that banks could stop fraud all while promoting technology in the age of globalization.
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