News and Events

Neustar Introduces New Multi-Factor Authentication Risk Assessment Tool in Time for Upcoming Compliance Deadlines

Jan 23, 2018

Complimentary tool aims to help all types of organizations mitigate risk

Neustar, Inc., a trusted, neutral provider of real-time information services, today announced the availability of its Multi-Factor Authentication (MFA) Risk Assessment Tool. Created to help enterprises more closely consider their programs for compliance with changing regulatory mandates, the free tool quickly identifies gaps, weaknesses and blind spots to help guide their implementation of timely risk mitigation. By assessing inherent risks, adequacy of authentication controls and residual risks, the tool helps organizations increase their ability to understand and address mitigation of certain risks to a tolerable level. 

Beginning March 1, 2018 entities regulated by the New York Department of Financial Services (NYDFS) will be required to perform a MFA risk assessment in order to be in compliance with regulation part 500.12. Organizations that fail to perform a detailed MFA risk assessment, implement proper internal controls and comply with the government-mandated deadline risk loss of license, charter revocation or civil money penalties and may be susceptible to data breaches or fraud, and potential class action lawsuits.

"We are pleased to provide an innovative risk assessment tool focused on multi-factor authentication,” said Sai Huda, General Manager, Risk Solutions, Neustar. “While legal requirements trigger multi-factor authentication risk assessments, until now this type of tool was not available to perform a detailed risk assessment to identify the risks faced and the roadmap for risk mitigation.”

“Unfortunately, recent data breaches have made personally identifiable information and other confidential information ranging from social security numbers, user names, passwords and answers to security questions widely available to fraudsters and cybercriminals. The threat actors are taking over identities and devices and breaking into all types of organizations undetected for financial gain. The mobile, online and contact center channels are especially vulnerable and exposed. Performing a comprehensive multi-factor authentication risk assessment is mission critical for all organizations,” said Huda. 

The Neustar Multi-Factor Authentication Risk Assessment Tool was developed by Neustar’s team of subject matter experts and is based on industry risk assessment methodology best practices, NIST Digital Identity Guidelines, NIST Cybersecurity Framework, FFIEC Cybersecurity Assessment Tool and other authoritative sources. Download Neustar’s free Multi-Factor Authentication Risk Assessment tool.

Neustar will also provide a free educational 60 minute webinar on multi-factor authentication on Thursday, February 8, 2018 at 11 am PT (2 pm ET), for executives and management responsible for operations, digital channels, contact centers, risk, fraud, information security and compliance, featuring special guest speaker, Frank Abagnale, widely acknowledged fraud expert and subject of the DreamWorks film, “Catch Me If You Can.” Other industry-leading risk, fraud and cybersecurity experts will also share risk mitigation best practices. Register for the webinar taking place on February 8, 2018 at 11 am PT (2 pm ET).