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Role of Biometric Authentication in Metaverse Technology

 

As we approach a new era of virtual reality, the digital world is becoming increasingly real. Businesses will grow in this new reality as individuals and organisations soon enter a parallel reality known as the metaverse and show themselves as their avatars, or 3D versions of themselves. 

But, like with every new technology, every invention has two sides. On the one hand, you will be able to completely customise your avatar and appearance in the metaverse. But what about security, on the other hand? How do you safeguard your personal information in such an open virtual environment? How do you protect the security of your identities when connecting with individuals and businesses on a level you've never encountered before? Biometrics holds the key. 

Role of biometrics in the metaverse 

Biometrics is a subset of the larger area of digital identity management. It entails using distinguishing physical characteristics such as fingerprints or facial features to identify people. 

Biometric technology has been used in security systems around the world for years—think retina scans at airports or fingerprints on smartphones—but now we're seeing more companies use it for employee access control as well as customer service applications like digital banking services or e-commerce sites where purchasing specific items requires verification through a scan of your fingerprint or face before a purchase can be completed. 

The growing number of social engineering attacks and other security concerns has a significant impact on how firms verify and authorise their online users. And, when it comes to the metaverse, things are rapidly deteriorating as fraudsters target weak lines of authentication security. 

If a company leaves an opening in the overall authentication process, consumer-facing malware could compromise identities. Although many organisations are concerned about the metaverse's underlying security and authentication vulnerabilities, most aren't taking the necessary steps to mitigate them. 

This is where a strong identity management solution with biometric authentication comes into effect. Users can quickly and securely authenticate themselves using biometric authentication by using face recognition or fingerprint scanning. 

Because no two people have identical biological characteristics, this greatly reduces the likelihood of identity theft. Because it provides an easy means for people to authenticate their identity without having access to passwords or PIN codes, biometrics is at the heart of building safe digital identities in the metaverse. 

Biometrics, as opposed to passwords, is based on unique biological traits such as fingerprints, voice, and facial attributes. No two people can have the same biological parameters. And because it is robust, there is a very small possibility that it will be compromised. 

Biometrics challenges in the metaverse

While biometrics has the potential to improve security and user experience in the metaverse, it is not without its drawbacks and challenges: 

Concerns about privacy: Users in the metaverse may be hesitant to share sensitive biometric data, such as facial recognition or fingerprint scans, for fear of potential breaches or exploitation. Maintaining the security of this data becomes critical, posing a serious privacy concern. 

Security Risks: Biometric data in the metaverse, like in the real world, is vulnerable to hacking efforts. Cybercriminals may target biometric authentication systems, jeopardising users' identities and security. 

Accessibility Issues: Biometric authentication relies on specific physical or behavioural qualities that may not be available to everyone. Some users may require additional technology or have circumstances that make biometric detection problematic, preventing them from having a seamless metaverse experience.

False Positives and Negatives: Biometric systems are not perfect. False positives (recognising an unauthorised user as authorised) and false negatives (failing to recognise an authorised user) can occur, causing authentication challenges and potential user irritation. 

Biometrics' role in the metaverse is a two-edged sword. While technology has the potential to provide greater security, personalised experiences, and seamless interactions, it also poses privacy, security, accessibility, and ethical issues. To establish a secure and inclusive virtual environment, the successful incorporation of biometrics in the metaverse will require careful assessment of these issues as well as a commitment to addressing these challenges. 

Hackers Exploit Action1 RMM in Ransomware Attacks

 

Remote Monitoring and Management (RMM) tools are an essential part of IT management, allowing businesses to remotely monitor and manage their IT systems. However, recent reports indicate that hackers increasingly target RMM tools to launch ransomware attacks against businesses.

One RMM tool specifically targeted is Action1, a cloud-based endpoint management platform. Hackers have been exploiting vulnerabilities in the platform to gain unauthorized access to systems and launch ransomware attacks.

According to a tweet by Kostas Tsartsaris, an information security researcher, attackers have been abusing Action1 RMM to deploy Cobalt Strike and other malicious payloads. Cobalt Strike is a powerful penetration testing tool that has been repurposed by hackers for use in ransomware attacks.

Businesses can turn to Digital Forensics and Incident Response (DFIR) services to prevent and respond to such attacks. These services allow businesses to quickly identify and respond to cybersecurity incidents, including ransomware attacks.

In response to the rising threat of ransomware, Action1 has unveiled an AI-based threat-hunting solution. This solution uses machine learning algorithms to detect and respond to potential security threats in real-time.

While RMM tools are essential for IT management, businesses must be aware of the potential security risks associated with them. By implementing robust security measures, such as DFIR services and AI-based threat hunting solutions, businesses can help to protect their systems and data from ransomware attacks and other cyber security threats.

It is important for businesses to remain vigilant and proactive in their approach to cyber security. By staying up-to-date with the latest security trends and implementing best practices, businesses can help to mitigate the risks of cyber-attacks and protect their valuable data.

Six Steps to Vanish From the Internet and Erase Your Digital Footprint

 


Whenever you do something online, whether it is banking, shopping or simply commenting on social media posts, you leave a digital footprint. A digital footprint is basically a trace of yourself in cyberspace, which can be traced back to your IP address. 

Most people would agree that this is just an inevitable consequence of technological living. However, some are not comfortable with the thought that Google is tracking everything that they do online. This includes people who are concerned about online security or those who are victims of spam, doxxing, or spyware attacks. You may want to know how to hide completely from the Internet if you are in this camp, since you may wish to prevent people from finding you.

There are several steps you can take toward this end. If you are vigilant, committed, and diligent about it, you will be able to do a fairly effective job of cleaning up your online reputation.

If you have had any kind of online identity at all, then there is a high chance that you will always be able to find a trace of yourself somewhere online. As a result, here's how to get rid of 99% of the digital footprints left behind by you.

1. If you use social media, make sure your privacy settings are set to private: According to Beau Friedlander, a cyber security expert and co-host of the podcast What the Hack with Adam Levin, a true cybercrime podcast with Adam Levin, there is no good reason to have your personal information visible on your social media accounts. If you change the settings in your account so that it only shows information about you to close friends and relatives, your data will be able to be used for a variety of identity-related crimes. While you may delete your account completely, Friedlander advises that you should keep in mind that the information that has already been collected about you and sold to third parties will not disappear when you 'leave the building.' In addition, you could consider limiting how much personal information you share in your social media bios so that it only contains the bare minimum amount of information.

2. Choosing to stay away from online directories may be the most effective way to protect your privacy. Several online data brokers provide data on anyone with any kind of public record that is open-source intelligence, or OSINT, Friedlander explains to Yahoo Life. Essentially, what he is referring to is what is commonly referred to as a "people-finder website," which is an online version of the White Pages (Books of Information). It is, fortunately, possible for you to remove your personal information from their website by filling out online forms. You can opt-out of the following company's services by visiting the websites of Acxiom, Epsilon, Oracle, Equifax Information Services, Experian, and CoreLogic. By opting out, you can ensure that your information remains secure from prying eyes. It is advisable to use a service such as JustDeleteMe.com if you would like to simplify the process.

3. The next thing you should do is to close your old accounts: "You might have forgotten all about [social media sites] associated with bygone eras of the web, but in reality, your data may still be out there," warns Friedlander. Check out HaveIBeenPwned.com to see if any of your old accounts have been compromised in data breaches. If the site flags that your passwords are compromised (and, therefore, your personal information) then you need to shut them down immediately. Even better, if you do not need them anymore, shut them down regardless of all things.

4. Create many accounts: Friedlander recommends setting up several accounts so that you can access all the services you need to make your life easier. In addition, you can create multiple accounts for free. There are numerous benefits to setting up separate email addresses and accounts when you are shopping online. These benefits include donating to political causes and keeping a private account that is just for your close acquaintances. So think about it!

5. Do regular privacy audits for your personal information: There may be a time when you want to undertake a personal privacy audit for your personal information (wants to think you have it set up as tight as possible) if you think your privacy is as tight as it can be. The first step is acquainting yourself with the privacy features offered by the services. This is regardless of whether you have been using them for years or if this is your first time using them. Make certain you know what privacy features they provide and what controls and settings they provide.

6. Check out what comes up when you search your name on a search engine: Try to find out what comes up when you search your name. It is always possible to request the removal of your name and/or photo from third-party sites where you appear, whether for reasons of a community event or a quote you provided to a local reporter.

Moody's Intensifies its Scrutiny Of the 'Riskiest' Sectors Of the Economy

 



According to Moody's Investors Service, nearly $22 trillion of global rated debt has a "high" or "very high" level of cyber-risk exposure. This includes electrical, gas, and water utilities, as well as hospitals, which are among the sectors with the greatest risk of cyberattacks.

In total, Moody's has rated nearly 80 trillion dollars in debt across 71 different sectors across the globe. This represents a quarter of Moody's $180 trillion in debt that Moody's has rated across 71 different sectors worldwide. This represents an increase of nearly a billion dollars from the firm's 2019 numbers.

According to Moody, the Cyber Heatmap takes into account two factors, namely exposure and mitigation. It weighs both equally across all the sectors that it rates for this report.

A major component of exposure is the industry's "systemic role" - the fact that it is appealing from an attacker's perspective in terms of disrupting a wide array of industries, along with its interconnectedness with other sectors. It has also been emphasized that "digitalization" has increased the attack surface by extending its digital footprint.

The mitigation plan will include measures to reduce perimeter vulnerability as well as basic cybersecurity practices based on financial loss estimates. While determining perimeter vulnerability, Moody's takes into account at-risk open ports and patching cadence, which it gathers from data and metrics provided by cyber-ratings company BitSight, in which Moody's owns a minority stake, which provides data and metrics about open ports and patching schedules.

"It has been mentioned before that poor patches can have a significant impact on a company's risk of ransomware, as well as reports of a high rate of ransomware instances," BitSight chief risk officer Derek Vadala said in a press release.

According to Moody's, this year's Heatmap provides insight into cyber risk within the 71 sectors. The information is based on exposures and mitigations, which Moody's has categorised as "low," "moderate," "high" and "very high" risk. Utility companies were found to have high levels of cyber risk.

In this sector, which has a total amount of $2.5 billion in collective debt rated by Moody's, there are both regulated and self-regulated electric utilities operating in the generation, transmission, and distribution of electricity and gas. There are also unregulated electric and power companies, as well as water and wastewater companies. Moody's noted, "this does not mean the issuers within these sectors have weak cybersecurity practices."

Most economists believe that it has more to do with the "multiplier effect across an economy," as per the report. Cyberattacks that knock out a regional power grid, for example, will have far more consequences than simply for the utility itself. Hospitals may be unable to provide life-saving surgery or critical medicine to patients if a cyberattack knocks them out of service. For assisted living facilities, it would be extremely challenging for them to keep their elderly residents comfortable during heat waves or cold snaps. This is because they cannot provide heat or air conditioning.

There is no doubt that this is why critical infrastructure has become such an attractive target for cybercriminals seeking to cause the most damage, as evidenced by the seemingly constant barrage of government warnings regarding nation-state threat groups targeting power systems and infrastructure.

As far as cyber risk is concerned, non-profit hospitals also ranked extremely high when it comes to the threats they face. In Moody's view, non-profit hospitals are particularly attractive targets for attackers because of the huge amount of data that these institutions possess, as well as the average mitigation measures, they have in place to reduce the impact of potential cyber threats. 

Banks, the technology sector, telecommunications, and midstream energy are some of the sectors with the highest levels of risk. Meanwhile, in the Heatmap, some sectors have moderate levels of risk, such as advanced economies and emerging regions, regional and local governments, manufacturing, retail, and apparel, and integrated oil.

In conclusion, low-risk sectors include structured finance, real estate, independent exploration and production, mining, and public housing, which are all low-risk sectors. The analysis evinces how there has been a significant increase in the number of ransomware attacks against hospitals and healthcare organizations over the last few years which in turn calls for strict cyber security measures.