“Please enter the one-time-password (OTP) that has been sent to your registered mobile number.” The next time you see a statement like this remember that there is a definite reason behind it.
IT administrators utilize a variety of security methods, including hardware and software solutions, to secure network data against unauthorized access and other threats. These mechanisms are a preventive measure that ensure network security. Examples of security methods include OTPs, tokens, biometrics, voice and facial recognitions, personal identification numbers, as well as debit and credit cards that verify user identities.
In the contemporary world where data leakage is commonplace, it is crucial for individuals and organisations to exercise extreme caution to protect sensitive information from cybercriminals.
The encryption and decryption algorithms are the key components of cryptography. These methods help prevent disclosure of confidential information and unauthorized access. The secret to deciphering encoded data is held by both the sender and the receiver, making it the most effective method for concealing communication.
The digital signature, combined with other measures, provides a non-repudiation service to guard against the denial of actions.
It provides evidence and existence of a message, making it very difficult for the parties associated with the communication to deny their involvement. It further ensures that only the people or processes authorized to view and use the contents of a message or transaction have access to the content.
Global ransomware damage costs are predicted to exceed $265 billion by 2031, according to the estimates from Cybersecurity Ventures. Thankfully, we have authentication, which serves as the first line of defence against access to unauthorized data.
The main motive of cybercriminals is to gain access to systems, steal your data and money, or spread malware. To do this, they pretend to be individuals, businesses or entities, and strive to gain trust. They are more than capable of manipulating modern technology, including email services, communications, or the internet’s fundamental protocols. Techniques, such as MAC and digital signatures in cryptography, focus on protecting information against spoofing and forgeries, and stopping hackers in their tracks.
A Singapore-based cybersecurity start-up, Silence Laboratories, has recently raised $1.7 million in seed funding with the intention of building better authentication schemes. The start-up solves issues with institutional asset managers, exchanges, and crypto wallet security. It uses layers of proofs based on signal processing and cryptography to secure digital wallets, exchanges, and login services for Web 3.0 and Web 2.0 products.
Data integrity is a complete package that ensures the accuracy, completeness, consistency, and validity of an organisation’s data. This enables enterprises to guarantee the integrity of data and ensures that the information in its database is accurate.
The General Data Protection Regulation (GDPR), that came into effect in May 2018, definitely changed the perspectives on what individuals and entities think about data breach or privacy. Increasingly, people have realized the impact of data leakage.
The mathematical algorithm and cryptographic hash functions play a vital role in assuring users about data integrity. They are extremely useful and are utilized by most information security applications.
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You can’t expect everything to be faultless, and this is no different for cryptography. There are a lot of places where it has failed. Here’s an example:
On September 16, 2022, one of the leading transport companies, Uber Technologies Inc., confirmed that it had fallen victim to a cyberattack. A multi-factor authentication (MFA) fatigue attack is the purported social engineering tactic the hacker employed to enter the account of an Uber employee and wreck havoc, ultimately placing the data of 93 million active Uber users at risk.
If this story leaves you perplexed, or prompts you to rethink your decision to adopt cryptography, I only have one question for you: Would you not build a door to protect your home, assuming a robber is going to break in anyway?
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