Security should be very high up on all business owner’s priority lists right now, this is because cyber attacks are becoming more ruthless and harder to prevent. Having more security measures in place will keep your business safe and encourage it to grow. So, what is Multi Factor Authentication?
Multi Factor Authentication explained
One security method you can use is Multi Factor Authentication. You might already be using MFA for your online banking, social media, or even some of your shopping accounts. This is where you may be asked to enter a code along with your password to access your account. MFA requires you to provide two forms of confirmation, to confirm that you are who you say you are eg; text message or face ID to gain access to an account. Yes, it’s really as simple as that – the name just sounds slightly techy.
Different multiple authentication modes
There are many different modes of MFA, some you may have previously experienced when opening personal applications. They are the following:
This mode is when you receive a text with a one time passcode that you will have to input.
Very similar to phone verification, you may receive a one time passcode or a one time link via email.
A fingerprint or facial recognition is called a Biometric verification, which I’m sure you are used to when using your smartphone.
Why should you use Multi Factor Authentication?
When logging into an application, all that sits between anyone and your information is your login username and password. If someone has access to this, they can get hold of your information very easily – a hacker’s dream. The scary thing is, it is very simple for a hacker to use a password cracking tool to guess various combinations of usernames and passwords until they finally get it.
You want to make it as complicated as possible for someone else to get access to your account, by just having a password it can be easily found or deciphered by cyber criminals. By having MFA set up the criminals would need the extra application in order to enter your code. We class this as “something you know (your password) and something you have (MFA code)” the criminal needs both to gain access to your account.
It is also worth checking to see if any of your information has been leaked on the dark web using “Have I been Pwned”, we recommend you check this on a regular basis.
Benefits of Multi Factor Authentication
Overall, the primary function of MFA is to provide extra security layers and prevent someone from hacking into your accounts, however, there are a few other benefits that you should be aware of…
Meets compliance regulations
Some industries require businesses to have MFA implemented to comply with particular industry regulations. You will keep you ahead of your competitor by already having MFA implemented, showing potential clients how innovative your business is.
Simple to use
As previously mentioned, you will most likely have used MFA before in your personal life, and therefore you will understand how easy it is to use. It shouldn’t be different for your work.
Increase trust with clients
Everyone likes knowing their data is secure. Your customers will appreciate knowing you’re taking serious steps to protect not only your business data but also any client information you have access to, just by using MFA.
Password scams are constantly evolving. Your passwords are in imminent danger of being stolen, just having a password isn’t enough anymore. With MFA you gain an extra layer of protection by having a second form of identification proving it’s actually you when trying to log in.
Hackers send out thousands of phishing emails to business‘s of any size, this includes you. They only have to get it right once, where as you have to get your protection right all the time.
Hackers hunt down businesses similar to yours, knowing that the majority of them wont have adequate security measures in place to stop them. Around 44% of people have experienced a phishing attack in the workplace. Just because it hasn’t happened yet, doesn’t mean it won’t in the future. It’s never too late to act and put something in place to prevent it from happening.
If you are interested in MFA for your business, get in touch and see how we, security experts, can help you.
Contact us on 01273 806211 or email [email protected]