28 Nov 2008

Demand for data security technology

IT firms developing data security software could experience high levels of demand as more organisations are looking at ways to improve online security.

There is growing talk within the business world about two-factor and three-factor authentication systems related to sensitive data which is hosted online, noted a spokesman for Equifax.

"If this data is out there, the one way you can actually prevent it from being used is to have an extra level of security," the spokesman said.

Many card operators are looking at enhanced security tools, such as card readers which generate random numbers for their owners to use for online transactions, he continued.

There is a "general view in the industry" that new technology is needed to tackle online credit fraud, the Equifax official added.

Tony Neate, managing director of Get Safe Online, recently advised firms which hold sensitive data belonging to other companies and customers to be vigilant when it comes to data security.