The Better Identity Coalition appreciates the opportunity to provide comments to the Department of the Treasury on its Request for Information on Uses, Opportunities, and Risks of Artificial Intelligence (AI) in the Financial Services Sector.
As we detail in this response, AI is increasingly being used by adversaries to attack the identity and authentication controls used by many firms in financial services. However, the impact of AI is not all negative, and AI is also one of our most powerful tools to defend against these newer, more sophisticated attacks. We dive into each of these issues – as well as where we believe more strategic attention is required from Treasury, the executive branch, and Congress on issues at the intersection of identity and AI – in the pages that follow.
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Is it Time for Mandatory Multifactor Authentication?
In the wake of the Change Healthcare breach – caused by compromised credentials and no multifactor authentication (MFA) on a remote access server – is it time for government to mandate MFA for critical infrastructure organizations?
Is Phishing-Resistant MFA Table Stakes?
A token with a six-digit code was the ultimate in MFA but with the rise of AI and other sophisticated attacks organizations need to look at phishing-resistant authentication.
