From the article:
“I’ve been consulted on every major breach in the States in the last 40 years and over 80% of these were caused by stolen or weak passwords. Every breach occurs when someone in a company either fails to do something they were meant to, or does something they weren’t meant to. Hackers just sit tight and wait for that door to open.”
Frank Abagnale, FBI security adviser and former master of identity fraud, spoke at a talk hosted by Pay360 on the importance of putting an end to passwords to ensure payment security and prevent fraud.