Security Magazine logo
search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Security Magazine logo
  • NEWS
    • Security Newswire
    • Technologies & Solutions
  • MANAGEMENT
    • Leadership Management
    • Enterprise Services
    • Security Education & Training
    • Logical Security
    • Security & Business Resilience
    • Profiles in Excellence
  • PHYSICAL
    • Access Management
    • Fire & Life Safety
    • Identity Management
    • Physical Security
    • Video Surveillance
    • Case Studies (Physical)
  • CYBER
    • Cybersecurity News
    • More
  • BLOG
  • COLUMNS
    • Cyber Tactics
    • Leadership & Management
    • Security Talk
    • Career Intelligence
    • Leader to Leader
    • Cybersecurity Education & Training
  • EXCLUSIVES
    • Annual Guarding Report
    • Most Influential People in Security
    • The Security Benchmark Report
    • Top Guard and Security Officer Companies
    • Top Cybersecurity Leaders
    • Women in Security
  • SECTORS
    • Arenas / Stadiums / Leagues / Entertainment
    • Banking/Finance/Insurance
    • Construction, Real Estate, Property Management
    • Education: K-12
    • Education: University
    • Government: Federal, State and Local
    • Hospitality & Casinos
    • Hospitals & Medical Centers
    • Infrastructure:Electric,Gas & Water
    • Ports: Sea, Land, & Air
    • Retail/Restaurants/Convenience
    • Transportation/Logistics/Supply Chain/Distribution/ Warehousing
  • EVENTS
    • Industry Events
    • Webinars
    • Solutions by Sector
    • Security 500 Conference
  • MEDIA
    • Videos
      • Cybersecurity & Geopolitical Discussion
      • Ask Me Anything (AMA) Series
    • Podcasts
    • Polls
    • Photo Galleries
  • MORE
    • Call for Entries
    • Classifieds & Job Listings
    • Continuing Education
    • Newsletter
    • Sponsor Insights
    • Store
    • White Papers
  • EMAG
    • eMagazine
    • This Month's Content
    • Advertise
  • SIGN UP!
Security NewswireAccess ManagementIdentity ManagementCybersecurity News

72 Percent of Companies Plan to Ditch Passwords by 2025

cyber 4 responsive default
June 29, 2016

A study has found that 69 percent of security professionals believe usernames and passwords alone no longer provide sufficient security and a majority (72 percent) predict passwords will be phased out within nine years.

The TeleSign report also shows that security professionals are increasingly turning to effective, easy to implement technologies such as behavioral biometrics and two-factor authentication (2FA) to secure user accounts.

“The vast majority of security professionals no longer trust the password to do its job,” said Ryan Disraeli, Co-Founder of TeleSign. “Thankfully, most companies aren’t resigning themselves or their users to password-only account security. They are implementing two-factor authentication in droves and newer technologies such as behavioral biometrics are emerging to address many of the concerns developers have around adding new tech to their applications.”

More findings from The Future of Account Security Report include:

Trust in passwords is waning, most companies plan to do away with them

  • Sixty-nine percent of security professionals believe usernames and passwords alone no longer provide sufficient security
  • Seventy-two percent believe their company will do away with passwords by 2025.

Poor security can lead to increases in fraud, having multiple impacts

  • Ninety percent of companies experienced fraud in the past 12 months, of which 97 percent felt the impacts.
  • Seventy-nine percent are extremely or very concerned about account takeovers (ATOs), and with good reason. Costs were higher for companies who had experienced ATOs in the past year — with 51 percent experiencing financial losses, 42 percent experiencing loss of customers or users, 42 percent experiencing damage to the company brand and 45 percent experiencing increased employee time to correct the fraud.

Behavioral biometrics and 2FA increase account security and are on the rise

  • Nine in 10 companies say behavioral biometrics would be extremely or very valuable for increasing security and 8 in 10 say it would increase security without degrading the user experience.
  • More than half of companies (54 percent) plan to implement behavioral biometrics in 2016 or later.
  • Eighty-five percent of companies will be using 2FA within the next 12 months, with four in ten already using it for their consumer accounts and another four in ten planning to adopt it in the next year.
  • Ninety-two percent of security pros agree two-factor authentication significantly increases account security on top of passwords.

Online fraud remains a top concern for companies, with 86 percent reporting they are extremely or very concerned about authenticating the identity of web and mobile app users. In the past year, 9 in 10 companies have experienced fraud and almost 8 in 10 (79 percent) are concerned about account takeovers (ATOs), which occur when unauthorized access is gained to a web or mobile end-user account – often due to stolen credentials, weak passwords or bot-based attacks. Overall, the impact of fraud remains high, with 42 percent of companies saying they experienced financial losses and 45 percent experiencing increased employee time to correct the fraud.

“The business of fraud has become public enemy number one for mobile and online companies,” Disraeli added. “Cybercrime such as account takeover is affecting businesses of all sizes by incurring financial losses, loss of customers and users and ultimately brand damage. In order to address the failing password, enterprises need to add additional account security technologies to keep user accounts safe. Behavioral biometrics technology and two-factor authentication are emerging as leading candidates to bridge the gap.”

Read more: www.telesign.com

KEYWORDS: cyber security data security passwords

Share This Story

Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!

Recommended Content

JOIN TODAY
To unlock your recommendations.

Already have an account? Sign In

  • Security's Top Cybersecurity Leaders 2024

    Security's Top Cybersecurity Leaders 2024

    Security magazine's Top Cybersecurity Leaders 2024 award...
    Security Leadership and Management
    By: Security Staff
  • cyber brain

    The intersection of cybersecurity and artificial intelligence

    Artificial intelligence (AI) is a valuable cybersecurity...
    Cybersecurity
    By: Pam Nigro
  • artificial intelligence AI graphic

    Assessing the pros and cons of AI for cybersecurity

    Artificial intelligence (AI) has significant implications...
    Cybersecurity Education & Training
    By: Charles Denyer
Manage My Account
  • Security eNewsletter & Other eNews Alerts
  • eMagazine Subscriptions
  • Manage My Preferences
  • Online Registration
  • Mobile App
  • Subscription Customer Service

More Videos

Sponsored Content

Sponsored Content is a special paid section where industry companies provide high quality, objective, non-commercial content around topics of interest to the Security audience. All Sponsored Content is supplied by the advertising company and any opinions expressed in this article are those of the author and not necessarily reflect the views of Security or its parent company, BNP Media. Interested in participating in our Sponsored Content section? Contact your local rep!

close
  • Sureview screen
    Sponsored bySureView Systems

    The Evolution of Automation in the Command Center

  • Crisis Response Team
    Sponsored byEverbridge

    Automate or Fall Behind – Crisis Response at the Speed of Risk

  • Perimeter security
    Sponsored byAMAROK

    Why Property Security is the New Competitive Advantage

Popular Stories

Rendered computer with keyboard

16B Login Credentials Exposed in World’s Largest Data Breach

Verizon on phone screen

61M Records Listed for Sale Online, Allegedly Belong to Verizon

Security’s 2025 Women in Security

Security’s 2025 Women in Security

blurry multicolored text on black screen

PowerSchool Education Technology Company Announces Data Breach

Half closed laptop

Sudo Vulnerability Discovered, May Exposes Linux Systems

Events

August 7, 2025

Threats to the Energy Sector: Implications for Corporate and National Security

The energy sector has found itself in the crosshairs of virtually every bad actor on the global stage.

August 27, 2025

Risk Mitigation as a Competitive Edge

In today’s volatile environment, a robust risk management strategy isn’t just a requirement—it’s a foundation for organizational resilience. From cyber threats to climate disruptions, the ability to anticipate, withstand, and adapt to disruption is becoming a hallmark of industry leaders.

View All Submit An Event

Products

Security Culture: A How-to Guide for Improving Security Culture and Dealing with People Risk in Your Organisation

Security Culture: A How-to Guide for Improving Security Culture and Dealing with People Risk in Your Organisation

See More Products

Related Articles

  • Security newswire default

    60 Percent of US Businesses Plan to Hire in 2018

    See More
  • Security newswire default

    Forty Percent of Employers Plan to Hire Full-Time, Permanent Employees in 2017

    See More
  • coronavirus

    72 Percent of Americans Say They'll Hit Mental 'Breaking Point' if Stay-At-Home Orders Continue

    See More

Related Products

See More Products
  • 9780367221942.jpg

    From Visual Surveillance to Internet of Things: Technology and Applications

  • A Leaders Guide Book Cover_Nicholson_29Sept2023.jpg

    A Leader’s Guide to Evaluating an Executive Protection Program

  • 9780367259044.jpg

    Understanding Homeland Security: Foundations of Security Policy

See More Products
×

Sign-up to receive top management & result-driven techniques in the industry.

Join over 20,000+ industry leaders who receive our premium content.

SIGN UP TODAY!
  • RESOURCES
    • Advertise
    • Contact Us
    • Store
    • Want More
  • SIGN UP TODAY
    • Create Account
    • eMagazine
    • eNewsletter
    • Customer Service
    • Manage Preferences
  • SERVICES
    • Marketing Services
    • Reprints
    • Market Research
    • List Rental
    • Survey/Respondent Access
  • STAY CONNECTED
    • LinkedIn
    • Facebook
    • YouTube
    • X (Twitter)
  • PRIVACY
    • PRIVACY POLICY
    • TERMS & CONDITIONS
    • DO NOT SELL MY PERSONAL INFORMATION
    • PRIVACY REQUEST
    • ACCESSIBILITY

Copyright ©2025. All Rights Reserved BNP Media.

Design, CMS, Hosting & Web Development :: ePublishing