With technology being the driving factor for how most businesses get things done, it has come to the point where companies need to start having a conversation about having a more secure presence within their company. As the workplace is continuously changing, having a strong security presence is a must so you can keep your company, client and employee information safe and secure. As technology keeps advancing, passwords are becoming more and more outdated, which leads to a great question, have passwords become a thing of the past? It has gotten to the point where your usernames and passwords just aren’t as safe and secure as they once used to be. If you are in the cybersecurity industry, then you probably heard of something called Multi Factor Authentication. Multi Factor Authentication or MFA is a type of security technology that requires more than one type of authentication to log into any device that you may have. It is a fascinating tool that is more than likely going to keep your information safe and secure, yet most companies aren’t investing in it despite the extra layers of security it brings to the table. Cyberattacks such as phishing, malware and identity-based attacks are continuing to be a worldwide problem for just about everyone which means it’s only a matter of time before your business is next. Enabling an MFA for your company not only limits your chances of your accounts getting compromised but it is something that must be considered for any company trying to stay safe from cyberattacks in 2023.
Benefits of Multifactor Authentication
Multi-factor authentication has become such an important tool for online security in 2023. MFA helps protect your accounts from cyberattacks even if they obtain your passwords which makes this type of security unmatchable. Most companies don’t have MFA implemented because there tend to be many misconceptions about being too time consuming or too pricey. Luckily when you set up MFA those misconceptions get shut down right away and leads to numerous benefits which include:
- MFA adds extra layers of security to your accounts while also giving total control over who has access to your files.
MFA takes numerous security measures to make sure you are saying who you really are. Even if cybercriminals gain access to your credentials, they will still need another method to confirm who they are. MFA enables your company to have complete control over who does and doesn’t have access to sensitive data. Using two or more authentication methods guarantees that only people who are supposed to access that specific data are the ones who are authorized to do so.
- MFA secures remote working
Cybercriminals tend to attack remote workers more frequently. When MFA is implemented, it can prevent attacks with adaptive authentication, which is a form of authentication that confirms users’ identities by looking at certain information such as location, device type, behavior and much more.
- MFA meets regulatory compliance
It has come to the point now where MFA is becoming more of the standard for most businesses. MFA assists healthcare providers in complying with HIPPA to protect patients’ sensitive information. Also, many cyber insurance providers have made MFA a requirement to obtain in order to lessen the risk of cyberattacks.
- MFA takes away password risk
Passwords have become a noticeably big risk regarding cybersecurity. It was stated that over 50% of people use the same password for multiple accounts. By adding an MFA not only is your account safe and secure but if you were hacked there is no way for the cybercriminal to authenticate that they are you.
Different Types of Multi Factor Authentication
When Implementing MFA into your company there are 5 different ones you can choose from:
- Text codes
- Biometric verification
- Physical key
- Authenticator App
Take Action Against Cyberattacks
Like all great things, having a secure network within your business takes time. Enhancing some kind of security must be top priority in order to stay safe from all the vicious cyberattacks that could potentially take over your business with the snap of a finger. A great way to start is by adding one of the five Multi-Factor Authentications. Adding one of these not only secures your network but it lessens the chances of you getting hit by a cyberattack. So next time instead of questioning yourself why you need to enable multi-factor authentication, it’s time to ask yourself why you haven’t done it already. Contact All Lines Technology today to see how we can help you move in the right direction with your security journey.