On a Monday morning after a good weekend, you try logging into your computer, only to be prompted for a code. You reluctantly take your phone out, tap on the notification, and enter the passcode shown on your phone into your computer.
This may seem like an unnecessary step, but that 10 to 15 seconds of time can be the difference between safety and becoming part of the 15 billion stolen credentials around the world as of 2021, according to Forbes.
Multi-factor authentication (MFA) is the multilayered security your business can implement and benefit from. By requiring more than just a single password, multifactor authentication verifies your identity by connecting with other devices or access or knowledge that’s unique to you.
How does MFA work?
There are three distinct layers to MFA that go into the most secure networks – something you know, something you have, and something you are. For example, you can know a password, have a personal device for authentication, and use a fingerprint or facial recognition for additional protection.
One of the most common examples of MFA involves using a debit card at the store. Oftentimes, you are required to input something you know like a PIN number for your card.
Why is this important?
Having MFA in place is important for two reasons: avoiding cyber incidents and compliance with regulations. In a growing digital age, both are just as important for maintaining your business.
Over 80 percent of hacking-related cyber breaches are caused by weak or stolen passwords according to Verizon investigative report into the leading causes of security breaches as reported by cloud-based identity management service Okta.
Preventing your business from becoming one of those statistics starts with MFA. As more and more passwords are required, users have become lazier while hackers become more efficient. MFA overcomes this risk and adapts your business to the future in one easy step.
Compliance standards such as the National Institute of Standards and Technology (NIST) require sophisticated security policies on a national basis. Businesses partnering with any federal organizations must follow them or risk fines or potential legal action.
Where can I use MFA?
Multiple websites and platforms already use MFA and can sync up with other programs for MFA if you do not use it. Microsoft, Google, and many other programs can easily implement MFA into your business, strengthening your security.
Contact Golden West Technologies for more information or for a no obligation consultation and quote to implement MFA for your business. Schedule a consultation with one of the Golden West Technologies professionals today.
Sources: Okta, Cybersecurity and Infrastructure Security Agency (CISA), Forbes