Cybercrime has become one of the most persistent and costly threats today. According to a report by Cybersecurity Ventures, the global cost of cybercrime is expected to reach $10.5 trillion annually by 2025, reflecting an increase of more than 15% compared to 2020 costs.

A large percentage of these attacks are related to the use of weak or compromised passwords. In 2023, more than 80% of security breaches were attributed to compromised credentials, according to the Verizon Data Breach Investigations Report.

A large percentage of these attacks are related to the use of weak or compromised passwords. In 2023, more than 80% of security breaches were attributed to compromised credentials, according to the Verizon Data Breach Investigations Report.

Passwords, which have long been the primary authentication tool, are extremely vulnerable to a wide variety of cyberattacks. Some of the most common include phishing, brute force attacks, and the use of leaked password databases, all of which allow cybercriminals to gain unauthorized access to accounts and systems.

Eliminating Passwords: A Response to Vulnerability

Passwordless solutions offer a much more secure and efficient alternative for authentication. These technologies eliminate the need for users to create, remember, or manage passwords, drastically reducing the risk of vulnerabilities in systems.

Passwordless solutions primarily rely on:

• biometric authentication methods (such as facial and fingerprint recognition).

• device-based authentication (such as mobile phone usage).

• authentication using cryptographic keys.

• multifactor authentication (MFA) which also plays a crucial role by adding additional layers of security.

According to a study by FIDO Alliance (Fast Identity Online), the use of passwordless solutions can reduce the likelihood of phishing attacks and other authentication-related threats by up to 99.9%.

B-FY: A Passwordless Solution for Human Authentication

B-FY is a passwordless IDaaS solution that eliminates fraud and protects privacy by authenticating real people at any digital or physical access point.

It is the first solution on the market that guarantees completely transparent access, preventing unsupervised anonymous logins from current digital identification protocols. Additionally, it offers the simplest authentication process in the market—100% password-free, account-risk-free, and extremely user-friendly.

Unlike other systems, B-FY does not analyze human behavior; instead, it focuses on precise and secure authentication based on unique biometric characteristics.

Prevention Is Key

Adopting passwordless solutions is not only a preventive measure against cybercrime but also an investment in improving security and user experience. By eliminating reliance on traditional passwords, organizations can significantly reduce the risk of cyberattacks and better protect users’ sensitive information.

With innovative solutions like B-FY, the future of cybersecurity is moving towards more secure, efficient, and fraud-resistant authentication.

For more information on how to implement passwordless solutions in your organization, visit B-FY.