Banks Bet on Biometrics

“A world without documents, passwords, magnetic cards, where people are recognized by DNA, the shape of the face, iris, fingerprint, palm, tone of voice, way of walking and talking. This is how the banking industry has been enhanced to combat organized crime, which entered the digital age and enlisted the world’s best hackers to steal passwords and steal millions.

To differentiate customers from fraudsters, banks have chosen the path of biometrics, the statistical study of physical characteristics, decreeing the end of the dictatorship of passwords, access letters and tokens, the electronic key chains that display a password that changes in seconds to access internet banking.

To fight crime, banks have been seeking advice using the other side of the fraudsters intelligence. By hiring “ethical hackers”, converted to good side. This is the story that Toni Sciarretta reveals in Folha on Sunday.

In the video below, see the most advanced biometric technology in Brazil: the reading of the veins in the palm, adopted by Bradesco. At the bank, 10% of ATMs are already equipped with hand readers. Almost all agencies now have at least one reader.” – Source (see video here)

My Take

So basically what they are saying is that theives will now just carry around big machetes. Nevermind that, because I would totally be willing to hand over my DNA to a large corporation! Yay! While they are at it, they can chip me too, in case I get lost…and oh why not, read my thoughts (oops, wait a sec, that’s what ‘status updates’ are for on social networks).

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