In October of 2023 Group-IB (https://group-ib.com) researchers released a report regarding a newly discovered Android Trojan which they named “GoldDigger”. Subsequent to that report, Group-IB’s threat intelligence unit identified a cluster of aggressive banking Trojans targeting the APAC region. On
Scott Francis, Trust Stamp’s Chief Technology Officer commented, “Although these specific Trojan attacks currently appear to be confined to the APEC region, cybercrime is global and we have to assume that these attacks will spread very quickly. With fast evolving attacks such as these Trojans, being a good steward of biometric data demands systems that do not require that data to be stored on potentially vulnerable devices. Until the emergence of these Trojans, we worried about Android vulnerabilities, and iOS device security was treated as unquestioned, but now that has to be reconsidered.”
Scott Francis went on to say, “The work of organizations such as Group-IB is critical to countering sophisticated cybercriminals. As a D-Seal labeled company; we take data security and responsible use very seriously and we have developed AI-powered, privacy-centric systems to counter attacks such as those implemented by these Trojans. These include both our Stable IT2 TM technology and biometric multi-factor authentication. The Stable IT2 is revolutionary in that it does not save or retain any biometric data anywhere, in addition to which, no identifying data is stored on the user device. As a biometric cryptographic system, it provides authentication without leaving biometric breadcrumbs that could later be used by criminals. Biometric MFA combined with device authentication not only uses biometric authentication with proof of life but also ensures that the user is in possession of the authorized device, disrupting the transaction flow utilized by the attackers behind these Trojans”
Stable IT2 is a groundbreaking facial recognition technology designed for identity authentication, secure system access, and account protection. It derives a cryptographic token generated from a user’s facial biometrics to respond to cryptographic challenges and authenticate messages, enhancing security and user control over personal information.
At registration, Trust Stamp’s binding process combines a cryptographic key and biometric information to produce sketch and helper data that can be stored anywhere, including on edge wallets, mobile devices, or a distributed ledger. During authentication, the stable token is derived directly from a live scan of biometrics as opposed to storing the biometric template. The ultra-secure feature of Stable IT2 means that neither the secret nor the biometric information about the user is ever stored therefore it cannot be stolen. This process is highly efficient, providing quick and accurate identity verification thereby reducing the risk of account takeover by attackers.
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Source: Trust Stamp
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