Solution for OTP frauds: IIT Mandi develops authentication system based on behaviour patterns
New Delhi (PTI): Do the rising number of OTP frauds and password hacking instances concern you? Researchers at IIT Mandi have developed a revolutionary system which will capture unique user biometric-based behaviour patterns for secure authentication, eliminating the use of conventional methods.
The system called "adapID" has been developed in collaboration with Deep Algorithms with Amit Shukla from the Center for Artificial Intelligence and Robotics (CAIR) at Indian Institute of Technology (IIT) Mandi and J P Mishra from Deep Algorithms, spearheading the development of the tool -- a behaviour biometric-based authentication system leveraging haptics data.
Deep Algorithms is an IIT Mandi and IIT Kanpur incubated company with its head office in Hyderabad, Research and Development office in IIT Mandi and partner office in the USA.
The system has already been granted a patent and has been deployed at a bank and a forensic company. The team is currently in talks with the Ministry of Electronics and Information Technology (MEITY) to use it for authentication in government schemes.
Those involved in the development of the system explained that in today's digitally driven landscape, organisations encounter the daunting challenge of safeguarding sensitive data against relentless cyber threats while ensuring a seamless user experience.
"Conventional authentication methods relying on passwords and static security measures prove inadequate, leaving organisations susceptible to breaches and burdening users with cumbersome access processes.
"The escalating instances of cyber fraud, notably attributed to OTP compromises, have spurred organisations to seek robust solutions to fortify against unauthorised access and data breaches," Shukla told PTI.
"Traditional authentication methods, dependent on passwords and OTPs, increasingly succumb to phishing attacks and brute force breaches, thereby compromising security and user satisfaction. adapID will herald a paradigm shift in secure authentication by harnessing the potency of behavioural and physiological biometrics, offering unparalleled security measures," he added.
Shukla explained that the innovative approach will obviate the necessity for passwords and OTPs, streamlining user access processes while bolstering defences against emerging threats.
"The adapID AI adaptive authentication integrates behavioural and physiological biometrics, presenting a multi-layered authentication framework that dynamically adapts to evolving user behaviour. This password-less authentication system will employ advanced technology, encompassing invisible keyboard features and decentralised web protocols, to establish a novel standard in secure authentication," he said.
"Our groundbreaking behaviour biometric-based system will redefine secure authentication, effectively eliminating the reliance on passwords and introducing seamless continuous authentication.
"With adapID, we not only aim to revolutionise security protocols but also empower organisations to navigate the complexities of the digital age with unwavering confidence," he said.
Deep Algorithms' J P Mishra explained that adapID addresses an array of cyber threats, including fraud, unauthorised access and phishing attacks, spanning across industries such as financial services, government, technology and critical infrastructure.
"By furnishing the most robust form of authentication and discerning anomalies in user behaviour, adapID equips organisations with a dynamic and adaptive security posture. As organisations navigate the intricate landscape of cybersecurity threats, adapID will emerge as a pioneering solution, presenting a dynamic, adaptive and secure authentication framework.
"With its innovative integration of behavioural biometrics and continuous authentication, the innovation will establish a new benchmark in secure authentication, empowering organisations to safeguard sensitive data," Mishra said.
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Sensex, Nifty nosedive over 5 percent in early trade in tandem with global markets meltdown
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Mumbai (PTI): Stock market benchmark indices went into a tailspin in early trade on Monday, with the Sensex and Nifty crashing over 5 percent, mirroring a sharp fall in global equities, after US President Donald Trump's tariff hikes and retaliation from China fanned fears that a full-blown trade war will impact economic growth across the globe.
The 30-share BSE benchmark Sensex crashed 3,939.68 points or 5.22 percent to 71,425.01 in early trade. The NSE Nifty tumbled 1,160.8 points or 5.06 percent to 21,743.65.
All the Sensex firms were trading in the negative territory. Tata Steel dropped over 8 percent, followed by Tata Motors which cracked more than 7 per cent. HCL Technologies, Tech Mahindra, Infosys, Larsen & Toubro, Tata Consultancy Services and Reliance Industries were the other big laggards.
In Asian markets, Hong Kong's Hang Seng tanked nearly 11 percent, Tokyo's Nikkei 225 plunged nearly 7 percent, Shanghai SSE Composite index dropped over 6 percent and South Korea's Kospi index sank 5 percent.
US markets ended sharply lower on Friday. The S&P 500 plummeted 5.97 percent, Nasdaq composite slumped 5.82 percent and the Dow tumbled 5.50 percent on Friday.
"Both China and Japan index declined by 10 percent and 8 percent, respectively. This escalates the stakes in the ongoing trade war and raises concerns about a potential global recession that could affect everyone. On Friday, the US S&P 500 dropped by 6 percent, and the Dow Jones fell more than 2,000 points, marking its worst week since the COVID-19 crisis. This came after China announced it would impose reciprocal 34 percent tariffs on all US imports starting April 10," Vikas Jain, Head of Research at Reliance Securities, said.
The sharp increase in tariffs by both the US and China could lead to higher inflation, slower global growth, and intensify trade tensions, he added.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,483.98 crore on Friday, according to exchange data.
Global oil benchmark Brent crude dropped 2.74 percent to USD 63.78 a barrel.
On Friday, the Sensex tumbled 930.67 points or 1.22 percent to settle at 75,364.69. The Nifty declined 345.65 points or 1.49 percent to close at 22,904.45.
Last week, the Sensex tanked 2,050.23 points or 2.64 percent, while the NSE Nifty declined 614.8 points or 2.61 percent.
