Why Multifactor Authentication is a must…

September 30th, 2019
Why  Multifactor  Authentication is a must…

You can’t afford to lose business data. It takes away the trust of your clients, leading to loss of revenue. As cyberattacks become more prevalent, vulnerabilities created by poor password and authentication practices lead to attacks such as phishing.  Using a complicated password to secure your system is no longer an effective way to solve the issue of cybersecurity. The vulnerability of passwords is the main reason Multi-factor Authentication (MFA) is necessary. It is becoming the new standard for boosting digital security.

  • Identity theft is an easy, low-risk, high-reward type of crime and a threat to all businesses. It is the fastest-growing type of crime and is now more profitable than drug-related crimes.
  • Weak or stolen user credentials are used by hackers' the most, used in 95 percent of all Web application attacks.
  • Headlines focus on the household-name companies, but they are not the only companies being targeted. Of all targeted attacks, 31 percent are aimed at businesses with fewer than 250 employees.
  • Anti-virus systems and advanced firewalls are necessary security elements, as are vulnerability tests. Without user authentication, though, the front door is wide open to intruders.
  • 44% have experienced a phishing attack at work
  • $5.2 million is the estimated cost to organizations annually
  • 90% of passwords can be cracked in less than six hours.
  • Sophisticated cyber attackers have the power to test billions of passwords every second.

MFA adds an extra layer of security for your systems and accounts by requesting for another method to verify your identity… it can be biometric verification for devices that you own, or a time-sensitive auto-generated code that is sent to your mobile phone. This security feature works in the same way websites would require you to confirm your email address.  The second layer could ask for the name of your cat, a secret code, a push notification sent to your phone, or a fingerprint scan.

MFA has low complexity, which makes it an easy addition. It can be rolled out quickly without busting the budget.  To take the stress out of installing a MFA solution call us today.