Problems with passwords & PINs (which the fingerprint scanner is intended to replace) are well known. But despite the problems of passwords, they can (& should be) replaced on a regular basis for improved security.
Your fingerprint is fixed, forever. If it is compromised, you can't change it. This has caused concerns over Apple's implementation in the new iPhone 5s.
Has the iPhone's fingerprint system been defeated yet? Not as of this writing, but get a more up to date answer at:
Update: link below now broken, but yes, the fingerprint scanner was hacked.
Further discussion at the Washington Post:
http://www.washingtonpost.com/business/technology/fingerprint-scanner-for-iphone-5s-raises-privacy-security-concerns/2013/09/20/0992cbee-222f-11e3-966c-9c4293c47ebe_story.html / highlight highlights iPhone 5s finger print reader fingerprint scanner facing two concerns Apple cool new feature consumers consumer sale IT information technology department departments employer work company companies authority department government agencies agency employees fingerprint ID IDs unlock iPhones used for work business businesses adopt new technology lawmakers government privacy advocates raised concerns plans plan handle highly sensitive data The iPhone 5s is the first Apple device with a built-in fingerprint scanner on the home button enter entering a four-digit code user needs only to place a finger on the button to unlock the phone store data device encrypted format send sending information own servers block third-party third party apps access accessing company calls iTouch ID senate senator Sen. Al Franken (D-Minn.) sent letter Apple chief executive Tim Cook noting fundamentally different biometric identifiers from previous ID methods passwords secret dynamic fingerprints fingerprint public permanent tell anyone your password hack hacker hacking hacks password change wrote thumbprint thumbprint use identify impersonate technical possibilities Touch ID diagnostic information transmit transmits Apple third parties wants assurances never share fingerprint data tools tool commercial third partiesimportant question considers fingerprint data contents of communication subscriber identity Stored Communications Act particularly important content data require warrant released law enforcement, subscriber ID or number needs subpoena if Apple considers fingerprint data subscriber information company could be compelled to share national security letter respond request for comment privacy concerns, company companies run test tests list of security measures requiredemployee devices Chris Hertz, chief executive IT firm New Signature begin adding fingerprint data existing protocols security community secure Dave Frymier chief information officer Unisys discussed letting employees fingerprints form of identification thoroughly test the sensor first better company security Frymier require passwords four digit four-digit pins device devices employees often choose codes code easy to crack easy to guess Tim Hoechst chief technology officer software security firm Agilex broad appeal new fingerprint technology secure their devicesbconsumers do not even bother to put up a pass code on their phones more secure than nothing enough consumers adopt technology mobile speed adoption enterprise driven by speed of adoption by users Ojas Rege, Vice President strategy MobileIron firm help businesses manage their employees’ employee mobile devices CEO happen faster /
