The CEO of Norwegian mobile authorisation firm ENCAP, Thomas Bostrøm Jørgensen, has accused the US enterprise sector of having "no security at all". He described the resulting level of economic losses in the country as "absolutely monstrous".
Speaking to Computing during a visit to London, Jørgensen decried the state of the US authentication market when compared to organisations in Europe and the UK.
"We've started looking at the US market, which is really interesting because they have no security at all," said Jørgensen.
He described how the US is "a country of high security standards" but, conversely, "their enterprise sector is very poorly secured, on average".
The reason for this apparent disregard for security, suggested Jørgensen, is legislation. "They sort of leave it up to the individual institution or enterprise, whereas in Europe it is a more mandated exercise," he told Computing.
He continued: "The money lost is absolutely monstrous, so they have to start to secure themselves. But typically, they haven't implemented anything, it's just user name and password. To double security they use two usernames and passwords, which doesn't provide any extra security at all."
Jørgensen is hoping that his authentication solution, which is widely used in Norway's corporate and banking sectors, won't just crack America, but will become "the standard" in authentication and digital signing as he takes it into a "wide range of geographies".
"I think we're the world's leading authorisation technology and solution, and it can be adopted across any number of sectors," said Jørgensen.
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A discussion of the "risk perception gap", its implications and how it can be closed