Account takeover and fraud schemes are costing consumers, banks, retail organizations, healthcare and other online businesses billions of dollars each year. What’s more, the cost of these attacks is on the rise—according to Riskified, losses from account takeover rose 122 percent from 2016 to 2017 and increased by 164 percent the following year.

Data breaches are threatening the security of more U.S. consumers, according to a survey released by The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re, with more than a third reporting that their personal information was exposed.

According to the Department of Homeland Security's 2018 Fiscal Year Report, they will be implementing facial recognition technology to identify approximately 97 percent of airport passengers departing the country. 

A new Biometric Consumer Sentiment Survey reveals an increased appetite for biometric authentication technology, with 70 percent of respondents reporting that they would like to expand the use of it into the workplace.

Colombian digital bank Nequi plans to offer account access completely through a user’s mobile device by using biometric authentication. 

To better protect proprietary or sensitive data, enterprises can utilize this fingerprint-area scanner, which plugs into a USB port and can be used to authenticate users at the device.

The wristband would identify a customer's unique heartbeat to verify his or her identity when using a banking app on a smartphone.

Biometrics can play a significant role in facilitating faster and more secure travel while protecting borders, according to survey respondents from Australia, France, Germany, Japan, the United Kingdom and the United States, and 89 percent of the citizens surveyed say they are willing share their biometric details when traveling across international borders. However, 69 percent of the 3,000 respondents say they have not shared any biometric data to date.

For high-traffic locations, this biometric identification system can be integrated into existing security systems, adding face capture and dual-iris recognition components to turnstiles, infrastructures or entrances.

The FIDO Alliance has released a public draft of new security standards that could someday make user passwords obsolete, Forbes reports. The FIDO Alliance, a security-minded industry consortium that includes Google, Netflix and PayPal, is drawing the support of major tech companies looking for login alternatives with greater security, which easing the authentication burden on consumers, who must create and manage passwords and credentials for the numerous sites they visit.