adminMulti-Factor Authentication Improve Information Security
As digital business grows, so does the risk of unauthorized access to critical systems and assets. Whether it’s a bank app, confidential database or remote work environment, cybercriminals can use stolen credentials to gain entry and steal data, infect systems with ransomware and cause monetary damage.
To thwart these threats, organizations need to deploy stronger information security. That’s where multi-factor authentication comes in. Unlike traditional passwords, MFA requires more than one form of verification to confirm a user’s identity. This multi-layered defense can thwart phishing, social engineering and password brute-force attacks that have become commonplace.
A 2020 study by Digital Shadows Photon Research Team found that 15 billion stolen credentials were available for sale on the dark web, including username-password combinations for online banking and social media apps. Those same logins could also be used to breach other systems and access sensitive information, and even smuggle away encrypted files or ransomware. Having a strong MFA system in place helps to mitigate these risks by ensuring that even if an attacker does manage to acquire a user’s password, they will not have the second factor required for access.
Traditionally, MFA has been composed of three factors: Something you know (passwords, PINs, answers to security questions), Something you have (codes sent via text message or authenticator app) and Something you are (biometric scanners, facial recognition, retinal scans). This gives organizations the flexibility to tailor MFA requirements based on specific levels of risk and user profiles. For example, a highly secure banking application might require both knowledge and possession factors while a low-risk internal login might only require one of each.
How Does Multi-Factor Authentication Improve Information Security?
MFA is not only a powerful information security against cyberattacks but also a significant driver of user accountability. It’s a great deterrent to phishing and other forms of social engineering that have been responsible for many data breaches and loss of personal information. And, when integrated with single sign-on, MFA can reduce the friction and time needed to log on to applications while providing an additional layer of authentication that helps to prevent unauthorized access.
While the benefits of MFA are clear, some users may find that the extra steps involved can be inconvenient. After all, no one wants to have their shopping or banking interrupted by being asked for a code or a fingerprint scan every time they log on. However, MFA solutions have evolved over the years to offer a seamless and user-friendly experience while still offering a high level of security.
In fact, new MFA techniques like push notifications and fingerprint recognition on smartphones have made the solution more convenient while making it easier to verify your identity. This is especially important for enterprises that have employees working remotely or from home, where the MFA process can be even more challenging. By integrating MFA with zero trust, organizations can streamline the authentication process to reduce the number of potential points of failure while improving productivity. This is a crucial element in reducing the risk of phishing, social engineering and password brute-force hacks that can compromise data, systems, networks and reputations.
