Are passwords obsolete? Thoughts from a famous fraudster | Frank W. Abagnale

- When we look at online breaches, about 86 percent of the time the hacks have to do with passwords. Because of this, many security experts believe we need to move away from using them.

- Consequently, we've now developed the technology to do just that. For instance, we now have a technology called Trusona — it stands for "true persona." The technology recognizes the individual, more accurately, based on their device.

- Many industries are already switching to this method of identity verification. Airlines are already switching, banks are switching, universities, too, are switching.

Frank W. Abagnale is one of the world's most respected authorities on the subjects of forgery, embezzlement and secure documents. Mr. Abagnale has been associated with the FBI for over four decades. He lectures extensively at the FBI Academy and for the field offices of the Federal Bureau of Investigation. He is a faculty member at the National Advocacy Center (NAC) which is operated by the Department of Justice, Executive Office for United States Attorneys. More than 14,000 financial institutions, corporations and law enforcement agencies use his fraud prevention programs.