A recent breach of customer accounts at Neiman Marcus puts spotlight on the vulnerabilities created by relying only on usernames and passwords for online authentication. Until businesses and banking institutions start forcing consumers to use other types of authentication methods, such as biometrics, mobile verification codes and geo-location, merchants and banks can expect more hackers to breach customer accounts. Cybersecurity expert: “This type of fraud will only grow more pervasive as criminals recognize and take advantage of the opportunity presented by on file accounts protected by weak authentication””]
Source: https://www.cuinfosecurity.com/neiman-marcus-reports-new-breach-a-8843