Why is Multifactor Authentication so Important?

Multifactor authentication, commonly referred to as MFA, is a vital tool to reduce malicious threats and minimize fraud. MFA keeps online businesses safe by avoiding and preempting security breaches and keeping all logins safe. Static passwords are a thing of the past when you consider the vital added layers of security required in today’s risky digital world. 

The fact that Multifactor authentication is able to prevent almost 100% of account takeover attacks makes it a must-have security step for just about everyone. Essentially, MFA ensures that users are who they say they are, by making them complete multiple levels of verification to prove their identity. While online criminals have savvy and sophisticated ways of stealing passwords, hacking accounts without the additional secondary or tertiary authentication information required makes it nearly impossible.     

As a security credential, authentication factors verify the identity of users wishing to access, send communications, or request data from secured networks, systems, and applications. 

Here are the primary authentication factor categories: 

  • Knowledge Factors – Users need to provide information such as passwords or pin numbers  
  • Possession Factors – Users need to provide specific information such as a one-time password sent to their specific device (hence possession) 
  • Inherence Factors – Users need to provide credentials unique to them such as fingerprints, and voice or facial recognition
  • Location Factors – Users need to comply with location factors such as permitted IP addresses 
  • Behavior Factors – Users need to comply with preset authentication factors based on specific behaviors, including things like lock-screen grids or picture passwords.

Other Benefits of MFA

In addition to increasing security overall, MFA reduces risks associated with hacked usernames and passwords. MFA is also compatible with Single Sign-On (SSO) as it can be embedded into applications and integrated simply. When combined, SSO and MFA save time and hassle overall and also improve efficiency. MFA is also highly adaptable, saving resources and money for companies as it’s very helpful for keeping employees’ login processes up-to-date and streamlined.  

In addition to assisting healthcare providers to comply with various regulatory compliance issues, the Payment Card Industry Data Security Standard (PCI-DSS) calls for the implementation of MFA in some circumstances, especially when it comes to preventing unauthorized parties from accessing payment systems. As such, not adhering to current MFA protocols simply isn’t an option these days. In most cases, a simple user name and password for authentication isn’t enough, making MFA an absolute must. 

As well as protecting against phishing and password attacks, MFA is vital to stave off would-be hackers and online criminals, especially when it comes to ransomware threats and the stealing of personal information and payment details. There can be no question that implementing Multifactor authentication is the first port of call for security for preventing cyber attacks and other unwanted threats. 

Why do you need strong passwords?

One of the most vital things for any online company is strong passwords. Strong passwords are the first line of defense against fraudsters and are one of the most common ways for security systems to be breached. Passwords that are hard to guess make it more difficult for hackers to bypass systems and steal payment data or personal information. 

Staying Secure

Why is it so vital to have strong passwords across all accounts, especially when it comes to online banking and shopping? The answer to that question might appear obvious, but it’s more complex than one might think. Just about anything and everything these days needs a user name and password, whether it’s to access email, social media, chatting apps, and other platforms, and that’s before we even talk about passwords associated with bank accounts. 

Another part of most people’s online experience today is trying to choose a password that actually works, fitting the increasingly stringent criteria required for things like online purchases. For that matter, keeping one’s social media passwords as safe and secure as possible is probably even more critical. Just think of all the sensitive and personal information a person has on their Facebook or Instagram accounts, then change your passwords for something more robust. 

While strong passwords are a must for website owners and, more importantly, e-Commerce websites, they keep hackers at bay and reduce the risk of malicious attacks – either human or bots. That applies equally to private users who want to feel safe when entering sensitive credit card information and other personal details to a website they’ve never visited before. Even though passwords these days are hard to remember as they need to be so complex to be secure, it’s worth the extra few minutes of hassle to ensure safety. 

Strong Password Tips

The main thing to remember is that passwords generally need to be long and (almost) impossible to remember. That’s because hacking complicated passwords require substantially more resources and effort than simpler ones. Mixing brackets, uppercase letters, and lowercase letters are also good, and it’s even better if you add special characters and numbers. A password containing at least 10 characters is also advisable. Bear in mind that online criminals want people to have the same password across all their devices and resources they access. 

Using a password manager is the best way to reduce the risk of hackers accessing details, and they offer peace of mind as passwords are saved in the most convenient way. With a password manager, instead of needing to enter login information for each website, a master password is entered automatically populating the user name and password in seconds. When creating new accounts, password managers can generate a random, strong password, saving time and hassle.

In a perfect world, one simple password would be enough, but sadly the reality is different, and that means using complicated passwords and changing them routinely. Using password generators is a good idea, and changing passwords should be done every couple of months. As well as keeping personal information secure, strong passwords ward off would-be hackers and malicious bots, among other potential threats. Strong passwords are even more important for online businesses and e-Commerce websites, as hackers find new ways to hack, the need for stronger passwords is very much a feature for the future.