With today’s sophisticated technology come new and inventive ways for fraudsters to access databases. A 45 percent rise over 2019 saw 4.8 million allegations of fraud, identity theft, and other cyber risks submitted to the Federal Trade Commission’s (FTC) Consumer Sentinel Network.
By the end of 2021, it is predicted that cybercrime will have cost the world $6 trillion in losses, with that figure expected to increase by as much as 15% annually over the next five years. By 2025, this might balloon to $10.5 trillion if effective cybersecurity measures are not taken.
Q5id has put together the following infographic which is a guide to authentication factors.