“When I was a kid, criminals robbed banks and had guns. Now they’re not even in the same country. They sit in Eastern Europe on a computer and they make large sums of money,” said Richard Clarke, former national coordinator for security and counterterrorism, during a recent talk with Karen Webster.
And the threat and scope of cybercrime have only gotten worse.
The reality is stark and it’s clear that the traditional lines of defense — one-time passwords and SMS sent by banks and other firms — are not effective.
As Nok Nok Labs CEO Phillip Dunkelberger said during the conversation, biometrics are among the best lines of defense against an evolving threat that crosses borders, targets consumers, threatens businesses of all sizes, and disrupts supply chains.
The T-Mobile hack earlier this month is but the latest example of ransomware attacks that are making headlines. Cyber raids on cryptocurrency exchanges are also growing in number and sophistication, all at a time when $9 billion was invested into cybersecurity startups in the first half of 2021 alone.












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