Reliance Authentication

How it is used

Captcha is a response question that helps determine whether or not a user is a robot or not

Reliance Authentication uses multi-step inputs to ensure that the user is not a fraud. Everyone uses it now, even if you are not aware of it. ^[1] Some examples include:

When using a credit card- Swiping a magnetic stripe or Inserting a chip followed by a signature. (In some cases, the last 4 digits of your Credit Card is taken)^[1]
Answering a Captcha question to prove you are not a robot.
Security Keys
Verifying an online account via SMS or email.
Time-based One-time Password algorithm.

Disadvantages

The use of low cost chips as a reliance authentication device has led to easy targets for fraud and theft

Disadvantages of reliance authentication methods are:

the reliance on low-cost authentication methods like computer chips, incite hackers to steal information. ^[2]
the absence of effective tools to monitor fraud, particularly since the transition from magnetic stripes to computer chips. ^[3]
extra time for admins to upload additional software and users to input their information.^[3]
its inability to support mobile devices.
poor password practices allow frauds to steal information from multiple platforms. ^[2]

References

1. ^https://www.kansascityfed.org/publicat/econrev/pdf/13q1Sullivan.pdf

2.^www.academia.edu/34026412/Social_Networking_and_Identity_Theft_in_the_Digital_Society.

3. ^https://medium.com/@mshelton/two-factor-authentication-for-beginners-b29b0eec07d7

[:0-1] "The U.S. Adoption of Computer-Chip Payment Cards: Implications for Payment Fraud" (PDF).

[:1-2] Eric. “Social Networking and Identity Theft in the Digital Society.” Academia.edu - Share Research, www.academia.edu/34026412/Social_Networking_and_Identity_Theft_in_the_Digital_Society. "Social networking and identity theft in the digital society". {{cite web}}: Check |url= value (help)

[:2-3] "Two-Factor Authentication for Beginners".

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