The cyber world is a perilous place. There are security risks everywhere. Your email can be hacked, data can be stolen, passwords and log in credentials leaked, and Ransomware installed on your computer and company network. If a hacker can get enough personal information, they can even commit identity theft. If your identity is stolen, the resulting mess is often so extensive that it can take several years to clean up – time most people don’t have.
When identity theft occurs, a hacker has access to personal information like your name, address, email, bank account numbers, Social Security number, passwords and log in credentials. They might use your identity to open bank accounts, apply for mortgages, max out credit cards, and put you in thousands of dollars of debt.
To reduce the likelihood of a cyber threat, we recommend you use complex and unique passwords. Unfortunately, that isn’t always enough to protect you. In a world where third-party sites are being breached left and right, no password, no matter how complex, is enough. To fully protect yourself and prevent cyber criminals from using your breached credentials, implement multi-factor authentication (MFA).
Multi-factor authentication (MFA), also known as two-factor authentication (2FA), is a security system that requires multiple methods of authentication to validate your online account. There are three elements that can be used in MFA:
- Something the user knows: like a password or a pin number
- Something the user has: like a device
- Something the user is: like a fingerprint, optics, or voice
By having two or more components to validate your identity, you are adding a layer of difficulty for hackers attempting to steal your data and compromise your identity. MFA significantly reduces the risk of an unauthorized user access your system and data. It adds a layer of security that is hard to breach.
Here are 3 benefits you will get when you use MFA in your business:
- Strengthens Security: MFA/2FA offers an additional layer of protection. The more methods of verification you require, the more difficult it is for a cyber criminal to compromise your account.
- Minimizes Legal Risks: Businesses can implement MFA practices into standard operating procedures at the end-user level to prevent data breaches. For instance, implementing MFA on email accounts reduces the chances of a cyber criminal hacking into your email and stealing sensitive data. Correspondingly, it will reduce the possibility of legal action from your clients.
- Increases Efficiency and Flexibility: Many businesses allow their employees to work outside of the office and when they’re on the go. For instance, at home, a local coffee shop, or in a hotel room when travelling. By using MFA, a hacker would need access to your employee’s cellphone, fingerprint, or security key to gain access to their accounts. MFA allows your employees to work outside of the office without having to worry about a security breach.
If you haven’t already done so, please make sure to enable MFA on all your accounts - before it’s too late! If there is even one security hole in your business a cybercriminal can easily gain access to your company or personal data. To protect yourself enable MFA/2FA!