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Apr 18, 2023 | Cybersecurity

Is multi-factor authentication important?

by

Log-ins and passwords alone just aren’t secure anymore. Hackers have successfully developed methods to gain unauthorised access to accounts, such as phishing – fraudulently gaining information from the victim, keylogging – recording the keys used on a keyboard, and pharming – the installation of malicious code onto a device. These methods have enabled hackers to hack 90% of passwords within 6 hours!

Last year, Microsoft reported that 99.9% of account compromises could have been blocked by multi-factor authentication (MFA) – an extra layer of security to your accounts or apps on your phone, computer or tablet. The term multi-factor authentication can also be referred as two-factor authentication or two-step authentication – all offering better protection than a password alone.

Often, the process of this extra login authentication comes in the form of a text message being sent to your phone, a notification you approve, or opening another app such as an Authenticator app to confirm the login. Whilst it means that accessing your accounts can take a little longer, all of these are adding extra protection, but the question is, is it that important?

The short answer, yes. Why? Using MFA will enhance your security both personally and for your business, or the business you work for. With devices often shared between business and personal use, it’s no longer sufficient to build security perimeters around corporate networks. Using an additional layer of authentication will reduce the likelihood of a successful cyber-attack. And when the passwords ‘123456’ and ‘qwerty’ are worryingly among the most commonly used passwords in the world – MFA couldn’t be more important!

If that’s not enough to make you implement multi-factor authentication on your devices or throughout your business, here are some (not so) “fun facts” that just might convince you;

·      2 out of 3 people use the same password, or same set of passwords across all platforms they use – once one account is hacked, many others with the same password are at risk.
·      43% of cyber attacks target small businesses with one small business in the UK being successfully hacked every 19 seconds!
·      33% of UK organisations have reported a loss of customers after a data breach.

These are just a few data breach statistics that prove to us that our online security is even more important now than it has ever been before.
Multi-factor authentication can help keep your business secure and here at Computer Care we recommend using SAASPASS.

SAASPASS is a simple, robust security solution that removes the risk of weak links in your security system, allows complete password management securely from your mobile or other enabled device and is fully secured with changing dynamic passcodes and multi-factor authentication.

To discuss having SAASPASS installed or to discuss your business’ security need please get in touch with us for a chat.

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