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Cybercriminals are evolving and using advanced technology to attack your systems. Being proactive with your approach to security helps businesses reduce their risk. One very effective method for protecting your organization is by implementing Multi-Factor Authentication or MFA into your cybersecurity plan.
What Is Multi-Factor Authentication (MFA)?
MFA, also known as two-factor authentication is an additional layer of security placed on top of your standard login procedures meant to verify a user’s identity to access an account.
MFA is effective because it requires additional information outside of the basic username and password so that even in the event those credentials are exposed, your information stays safe behind separate access controls because it’s not very likely for a hacker to have access to your phone and it is nearly impossible for them to obtain your fingerprint.
How Multi-Factor Authentication Reduces Cyber Risks.
Multi-Factor Authentication works by using a combination of two or more independent credentials:
– Something you know, like a password or PIN
– Something you have, like a smartphone or security token
– Something you are, like your fingerprint or voiceprint
With these credentials, a user can prove their identity and gain access to systems, data, or networks. So, even if one of the credentials is compromised, the attacker would still need to have the other credential(s) to gain access.
Does Multi-Factor Authentication Really Stop Cyberattacks?
Multi-Factor Authentication is one of the most effective ways to prevent cyberattacks. It’s even been proven to stop 99% of cyberattacks.
MFA also has the added benefit of being more cost-effective than other security measures, like data encryption. It’s also much easier to use and implement than other security measures, making it a great choice for SMBs.
What Are The Benefits of MFA?
Using MFA to bolster your password security policy within your organization is proven to keep hackers out of your systems! According to Microsoft, MFA can “ prevent 99.9% of attacks on your accounts”. Here are a few additional benefits of implementing the security super tool;
- Reduces the risk of compromised password or login credentials. 61% of breaches in 2020 were executed using unauthorized credentials. People are creatures of habit and often reuse the same login credentials for multiple accounts and devices and once one account is compromised the rest are in danger.
- Regulatory Industry Compliance. Many organizations across multiple industries require 2fa or MFA on their accounts while handling sensitive data such. MFA helps healthcare organizations meet HIPAA compliance and financial industries meet PCI-DSS compliance.
- Cyber Insurance Requirements. The impact and cost of cyber attacks are increasing and with small to mid-sized businesses being a big target for cybercriminals organizations are purchasing cyber insurance, however, MFA is a basic requirement needed to establish any type of cyber insurance coverage.
Implementing Multi-Factor Authentication In Your Business
Having a strong cybersecurity plan in place to protect your secure information and assets is imperative in today’s cyber threat landscape. Multi-factor authentication is a vital first step toward boosting your cyber posture, but this should be combined with other security measures.
Attain Technology provides comprehensive cybersecurity solutions for organizations in Boston and the New England area and we can work with your team to implement MFA, managed backups, and security awareness training. Reach out to one of our cybersecurity experts today.
