In today’s world, where online identity thefts & phishing attacks are on the rise, the traditional method of using a login password alone is not reliable enough. Today, we constantly hear about data breaches and how companies are scrambling to address this serious business risk.
When breaches happen at a place of business, it is often due to weak identification and authentication mechanisms. For example, a hacker may get hold of an employee’s credentials to break into the company system. When Multi-factor authentication (MFA) has been implemented properly, the risk of these intrusions can be almost eliminated. For you as an end user, MFA creates another layer of protection in the case of data theft or hacking.
How does it work?
Multi-factor authentication (MFA) is one of the most effective ways to keep your business secure from cyber attacks. Multi-factor authentication is an electronic authentication system in which a user is required to provide two or more forms of identity verification before being granted access to a website, network, or application.
Examples of Multi-Factor Authentication include using a combination of these elements to authenticate:
Knowledge (something only the user knows) such as a password, pin, or security questions.
Possession (something only the user has) such as a FOB or smartphone.
Inherence (something only the user is) such as fingerprint, voice/facial recognition or retina scan.
This approach of preventing hackers is so successful because even if the hacker gains access to your username and password, they would most likely be unable to pass the other checkpoints, blocking the cyber criminals attempt to log in to your email or computer. Not only that, but because multi-factor authentication prevents a login attempt that was not initiated by the user, it signals potentially malicious behaviour and may function as a warning sign of cyber criminals attempting to access the network.
According to Ann Johnson, Corporate Vice President of Security, Compliance & Identity Business Development at Microsoft, 99% of hacks have some type of password element. She states that using a strong multi-factor authentication system will be, at the very least, a first line of defence.
Multi-factor authentication, according to Microsoft, works so well that it prevents 99.9% of cyberattacks from gaining access to accounts.
MFA does not require cumbersome resets or complex policies, and due to its remarkably easy deployment, as well as its integration with a wide range of applications, your IT team will have more time to concentrate on more strategic responsibilities.
Stopping all online crime isn't a reasonable goal, but taking a few easy precautions will drastically reduce your chances of being the next victim. When it comes to your most important and sensitive data, such as your primary email, financial accounts, and other records, you should use Multi-Factor Authentication whenever possible. It is time to take the initiative to keep your organization safe from hackers.
If you would like to learn more about Multi-Factor Authentication or how to set it up, please reach out to one of our consultants and we would be happy to help.