The FIDO Alliance has published a recap of its most recent APAC Marketing Forum (AMF). The organization started hosting the forums in November of 2020 to give identity stakeholders in the Asia Pacific region the opportunity to come together and learn from one another in a manner that will improve cybersecurity for everyday civilians.
The most recent Forum took place on February 15, and welcomed FIDO Alliance members from 12 countries throughout the region. The speaker lineup included representatives from Egis Technology, the MK Group, and Rakuten, amongst several others. Those presenters collectively discussed security best practices, and some of the lessons learned from case studies and technology deployments.
In that regard, the Alliance argued that cybersecurity should be an urgent priority for organizations in the APAC region. Cyberattacks have increased dramatically throughout the area in the past few years, and many of the more high-profile incidents can be directly attributed to poor security practices. For example, SMS phishing resulted in $8.5 million in losses for 470 customers of a Singapore bank in December alone, while New Zealand’s Department of Internal Affairs received a record 114,000 SMS scam reports in September and October. More recently, 35 million customers had card information and biometric data stolen after hackers breached a major payment services provider in January.
With that in mind, the Alliance is continuing to advocate for the use of passwordless authentication technologies, including biometrics. Such technologies are resistant to phishing, and have become increasingly popular amongst those searching for an alternative to passwords.
“FIDO adoption is truly happening now at scale,” said FIDO Alliance Executive Director and CMO Andrew Shikiar. “Asia has always been at the forefront with early FIDO adoptions, and it is wonderful to see a new momentum in Taiwan and ASEAN.”
The FIDO Alliance noted that enterprises are the most common targets of large-scale cyberattacks. The organization is now preparing to host an Authenticate Virtual Summit on March 30 and 31.