I had a very interesting conversation with a colleague recently. He had a disturbing take on the state of information security and, particularly, practitioners (of which he is one). He took the position that security professionals who have been around a while are becoming – no, making themselves – dinosaurs. Having been in this field well over 20 years myself, I, of course, found that a disturbing notion. You know what happened to the dinosaurs. Not a pretty thought.
Three or four years ago Howard Schmidt commented that we should have moved away from username and password as an authentication mechanism years before. I recall nodding in agreement with his statement. So I was hardly surprised when the The Federal Financial Institutions Examination Council (FFIEC) issued its guidance calling for the use of second-factor authentication in online banking. In the view of many vendors, this guidance — after an earlier FDIC advisory on internet banking security — “represents a definitive step toward eliminating single-factor authentication by financial institutions.” There are alternative views.