Biometrics security risks lie in data vulnerability

The use of biometrics is growing in the financial services sector, making the security of the technology behind these mechanisms increasingly important. For financial institutions the primary goal of digitisation is making banking simpler and more intuitive for customers, says networking company F5 Networks senior systems engineering Martin Walshaw. However, the real risk is the chance that a hacker could gain access to the digitised record of biometric data. The UK National Fraud Authority estimates that £3.3-billion is currently lost through identity crimes each year. Imagine how this could increase if hackers could access biometric data.