Why Multifactor Authentication is Essential for All Businesses
In 2022 we have seen an alarming number of devastating cyberattacks throughout the world, including in the UK and Ireland.
An example of this in the UK includes the ransomware attack on KP Snacks, the manufacturer of Hula Hoops, Nik Naks, Tyrells, and many other snacks. This ransomware attack was carried out by a Russian cybercrime group, and resulted in approximately 2 months of supply chain issues, costing the organisations millions in damages.
However, whilst this attack received national news coverage, there were many attacks on smaller businesses that were harmful but did not make news headlines.
As we come to the end of 2022, it is more obvious than ever that all businesses are at risk of falling victim to a cyberattack and must be taking steps to reduce their cyber risk. Most businesses understand this, but some are still lacking simple security controls, such as multifactor authentication.
In this blog, we will explain what is multifactor authentication, and why it is essential for all businesses.
What is Multifactor Authentication (MFA)?
Multifactor authentication, or MFA, is an authentication method that requires the user to provide two or more forms of identification to log into their account.
These forms of identification typically include something the user knows (such as a password or PIN), something the user has (such as a trusted device or hardware key) or something that the user is (such as biometrics information, including fingerprints or facial recognition).
In terms of the user experience, if MFA is enabled, an employee will enter their username and password into an application or service, and then it will ask for the second authentication method. If they are using an authentication app on their phone it will provide a 6-digit number they must enter to access their account.
Some businesses have even removed the need for passwords altogether, only using the identification methods of something a user has and something that they are.
Why Multifactor Authentication is Essential