As web applications and cloud services continue to proliferate, identity theft, cyber fraud, cyber bullying, and simple misuse of confidential information online expand to chronic levels. Yet cloud providers are expected to ensure high security while maintaining a convenient user experience. MasterCard and Visa spend over $1 billion each year to fight identity theft and web companies are increasingly the subject of class action lawsuits due to online security breaches. Still, hundreds of cloud applications and portals are being hacked monthly leaving millions of passwords and confidential records in the hands of cyber fraudsters.
Recently, many cloud users have started to realize that security in the cloud is, indeed, a serious issue. This trend led ASPs, cloud providers, and enterprises to actively search for more convenient methods of securing the identity of their cloud users with strong authentication. While there are a number of such solutions in the market today, not all “strong” authentication methods are strong enough to stop hackers.