What is 2FA and why is it good for cyber security?
Two-factor authentication is popping up everywhere, from online banking to social media accounts. What is it and why is it so effective in securing online accounts?
WHAT IS 2FA?
Simply put, two-factor authentication (2FA) is a way of securely accessing any computer systems or online accounts by asking for two distinct pieces of information.
Username/password is still the most common security method. However, if a username is an easily accessible email address or recognisable name, then most accounts are really only using single-factor authentication. They are only secured by a password.
With 2FA, not only do you need a username/password pairing. You'll also need to prove your identity separately. Most 2FAs will ask for something you know ie: a password or personal piece of information, with another factor of a completely different kind, such as:
- Something you have (smartcards, physical security keys or your smartphone etc.)
- Something you are (retina scans, fingerprint biometrics etc.)
You'll need both to get access to your account or computer system
WHY HAS 2FA BECOME IMPORTANT?
- Passwords have become increasingly less secure
With more cyber hacks and data breaches occurring every day, passwords aren't as reliable and secure as they once were.
If someone has the same passwords across multiple accounts AND is involved in a data breach, a hacker can enter their details into various sites and see where they get results!
Using the same password or a weak password massively increases the risk of security breaches.
- Security questions alone aren't enough to prevent a breach
We've all seen these: "What was your mother's maiden name?" or the "Name of your first pet?" These are knowledge-based authentication or security questions that ONLY the user should know.
However, following the rise of social media platforms, personal information is often publicly available and readily accessible. It doesn't take the most dedicated hacker to search social media for personal information. Even less so, if you've posted a "Get to Know Me" quiz!
WHAT ARE THE BENEFITS OF 2FA?
- STRENGTHEN YOUR IT SECURITY
Undoubtedly, 2FA adds an extra layer of security to all your devices and immediately decreases the chances of a hacker gaining access to online accounts or corporate devices.
When used in combination with a password, your company gains increased protection from cyber breaches and also awareness of any hacking attempts. You must report these straight away to your IT team.
2. INCREASE PRODUCTIVITY & FLEXIBILITY
After everyone working from home during the lockdown, there has been a rise in Bring Your Own Device policies. These aim to improve productivity and flexibility by letting users access corporate accounts through their personal devices.
Implementing 2FA for all users and their devices gives increased mobility AND security. You can be confident that your team are securely accessing their corporate accounts from ANYWHERE, without jeopardising your corporate network or any sensitive data.
3. LOWER YOUR IT SECURITY MANAGEMENT COSTS
As an IT helpdesk provider, we know that password resets are one of the most common issues reported! Don't get us wrong, we're always happy to help whatever the issues...
...But using 2FA could actively help reduce password resets, which are time-consuming and frustrating for your team. With another factor authentication, your users can reset their own passwords and just get on with their day.
4. REDUCE FRAUD & RISK OF CYBER BREACHES
All kinds of cyber crime are on the rise: Hackers are always looking for new ways to exploit weaknesses. It is the best practice to use whatever security methods are available to protect your business.
As above, using 2FA actively increases the security of all your accounts, whether that's personal or professional.
5. MAINTAIN CUSTOMER TRUST & LOYALTY
A cyber breach can be unbelievably damaging to a business and not just through the loss of data. It can ultimately lead to a loss of customer trust and permanent damage to your brand's creditability.
By using 2FA, you can protect their data and ensure a secure online experience. With increased security, you'll continue to build loyalty with your customers - both new and old.
More and more people are switching to 2FA in their personal and professional lives. Of all the changes you could make, this is a simple one and easy to put into effect across all of your users. Speak to us about setting up 2FA for your business.
