In today's cybersecurity landscape, where cyberattacks are increasingly frequent and costly for businesses and individuals, data breach incidents reveal that data and enterprise system security can be compromised by something as simple as a compromised password. 

Despite the growing availability of new authentication methods and the aspirational goal of a password-free future, passwords remain a popular method of authentication and a frequent target for cybercriminals. 

Solutions like B-FY, which do not require the use of passwords, are an effective ally in preventing online identity fraud. B-FY bases its security protocol on biometric data that the user has stored on their mobile device, and which always remains in their hands. 

Credential theft: a growing problem 

The Google Cloud Threat Horizons 2023 report revealed that 86% of security breaches involve stolen credentials, and credential issues account for more than 60% of compromise factors. 

According to the 2023 Verizon Data Breach Investigations Report 2024, 68% of all breaches include the human element, with people involved either through error, misuse of privileges, use of stolen credentials, or social engineering. The report also found that 14% of breaches involved the exploitation of vulnerabilities as an initial access step, nearly triple the amount from last year's report. 

The vulnerability of passwords 

The data is clear: passwords are vulnerable. Whether due to improper management or simply because employees use easy-to-guess and common passwords (123456, password, qwerty, etc.), there is a real need to effectively mitigate credential-based security breaches. 

Compromised passwords are those that have been exposed, stolen, or accessed by unauthorized individuals, often through security breaches or hacks. 

With the rise of remote work, the need for external provider access, the adoption of mobile devices, and cloud implementations, the traditional network perimeter has blurred and now centers on identity. 

With the increase in human and machine identities in recent years, attack possibilities have expanded considerably, and poorly managed credentials are a prime target for cybercriminals. 

B-FY: secure, passwordless biometric authentication 

B-FY is an Authentication as a Service (AaaS) solution that uses offline decentralized biometrics and eliminates the need for passwords, thus preventing online identity fraud. B-FY addresses this critical challenge through: 

1. Passwordless Authentication: Unlike traditional methods, B-FY does not use passwords. This completely eliminates the risk associated with compromised passwords, as there are no passwords to steal. 
2. Decentralized Biometrics: Users' biometric patterns always remain with them and are not stored on any central server that could be hacked. 
3. Innovative Identification Protocol: B-FY's protocol ensures that authentication is performed securely and privately, using biometric data that cannot be forged or reused by malicious actors. 
4. Passwordless: Since passwords are not used, the risks associated with phishing attacks, malware, and the misuse of shared or weak passwords are eliminated. B-FY ensures that each access attempt is unique and verifiable only by the legitimate user. 

Password management and compromised credentials remain a critical issue in today's cybersecurity landscape. Statistics show that credential-based attacks are a significant threat to organizations. 

However, with solutions like B-FY, which offers passwordless and decentralized biometric authentication, it is possible to eliminate the risk associated with compromised passwords and better protect sensitive data and systems within organizations. 

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