2-Factor Authentication is Paramount
As we have been preaching lately, 2-Factor Authentication is simply too important to ignore any longer. As experts in cybersecurity, without it, you are just inviting criminal activity to happen sooner rather than later. With it, you have a fighting chance and that is still not necessarily a guarantee, as criminals are swift and unfortunately clever. Below, you will find additional information about 2-Factor that we only hope you will read and have some good takeaways.
A Complete Guide to Two-Factor Authentication (2FA):
Cybersecurity is becoming more critical by the minute and second. A cyber attack happens every 39 seconds. Unfortunately, small businesses are one of the main targets of these hackers because they often don’t have proper security and dedicated IT personnel, making them more vulnerable to larger companies that have dedicated IT personnel responsible alone for security. You and your employees, as well as your clients or customers, must be protected from these attacks.
One way to keep your data and business secure is to utilize Two-Factor Authentication or 2FA. 2FA is a type of multi-factor authentication that increases account security by using two verification methods. 2FA adds another layer to hopefully deter or stop a breach.
You are probably already familiar with it and have been asked by personal accounts to use two-factor authentication for social networking, as well as many of your personal online accounts.
Factor One
So, how does it work? It is all in the name. 2FA uses two unrelated authentication methods to secure your account. The verification process usually starts with a password. While using only a password may seem secure, hackers have developed skills that allow them to decode your password and access your accounts. If you’ve ever used a public WIFI, you’ve probably opened yourself up to hackers that are there just waiting for you to log on and snipe a password. This is just one way they can crack your data, and there are plenty of others.
Factor Two
The second part of the process is either something you have or something you are.
Something you have refers to a physical object. This could be a phone, an app, a card, etc.
Something you are refers to biometric information – facial recognition, fingerprint, eyes, etc.
For example, you need your ATM card and a PIN code to withdraw money from your bank account.
Why is it important to implement 2FA?
As technology advances, so do cybercriminals. It is easier and easier for hackers to figure out passwords and access data and information from not only your company and employees but also your clients.
Companies can suffer severe financial losses. In 2021, the United States was ranked as the country with the highest average total cost of a data breach which was $9.05 million. What’s more, these financial losses, even if insured, can take a long time to recover – putting additional strain on your finances. We’ve talked to many company owners that have had to stop paying themselves until insurance kicks in, and we all know that can be a fight in and of itself.
Almost worse than a financial loss is the loss of clients’ trust or corresponding business. When a company is hacked and information about clients is leaked, the odds are that there will be apprehension to work with the company even if and when data is recovered.
Customers who are victims of a company’s breach can face identity theft, their accounts can be drained, and their credit rating can be affected. In 2016, over $16 billion was taken from 15.4 million U.S. consumers.
Implementing 2FA
Two-factor authentication can seem high-tech and complicated, but it is pretty simple to set up!
Most websites that require a password or log-in of some kind also offer 2FA. Keep it easy and use SMS authentication. This means that the website will send a code of some form after you enter your password to verify your identity. This code is texted, hence SMS, and you simply enter the code for access.
Most smartphones also offer an option for 2FA in the security settings, but you can also download an app to provide the security you may need. Authy is a reputable and well-reviewed app.
Keep you and your company safe from breaches and cyberattacks by implementing the use of two-factor authentication. Restech can help you secure all of your data and maintain security for your business. Call us today to get a free IT evaluation.
If we’ve impressed anything on you today, hopefully, it is the fact that you and your company need two-factor authentication now. It’s another added responsibility, but well worth it if you are hacked.
