2FA INSIGHTS
The Importance
Of Two-Factor Authentication
As cyberattacks become more and more common , protecting your data is increasingly difficult . In fact , a study from Juniper Research found that by 2023 , cybercriminals are expected to steal an estimated 33 billion data records .
In light of the growing number of cyberattacks , many companies are turning to two-factor authentication ( commonly called 2FA or multifactor authentication ) to enhance their cybersecurity .
While no cybersecurity method is foolproof , using two-factor authentication can add an extra layer of security to your online accounts . So how exactly does two-factor authentication work ?
WHAT IS TWO-FACTOR AUTHENTICATION ?
While complex passwords can help deter cybercriminals , they can still be cracked . To further prevent cybercriminals from gaining access to employee accounts , twofactor authentication is key .
Two-factor authentication adds a layer of security that allows companies to protect against compromised credentials . Through this method , users must confirm their identity by providing extra information ( e . g ., a phone number or unique security code ) when attempting to access corporate applications , networks , and servers .
With two-factor authentication , it ’ s not enough to just have your username and password . In order to log in to an online account , you ’ ll need another “ factor ” to verify your identity . This additional login hurdle means that would-be cybercriminals won ’ t easily unlock an account , even if they have the password in hand .
A more secure way to complete two-factor authentication is to use a time-based one-time password ( TOTP ). A TOTP is a temporary passcode that is generated by an algorithm ( meaning it ’ ll expire if you don ’ t use it after a certain period of time ). With this method , users download an authenticator app — such as those available through Google or Microsoft — onto a trusted device . Those apps will then generate a TOTP , which users will manually enter to complete login .
WHY TWO-FACTOR AUTHENTICATION AND PASSWORD MANAGEMENT IS IMPORTANT
As two-factor authentication becomes more popular , some states are considering requiring it for certain industries . It ’ s possible that as cybersecurity concerns continue to grow and cyberattacks become more common , other states will follow suit .
Even if it ’ s not legally required , ongoing password management can help prevent unauthorized attackers from compromising your organization ’ s password-protected information . Effective password management protects the integrity , availability , and confidentiality of an organization ’ s passwords .
Above all , you ’ ll want to create a password policy that specifies all of the organization ’ s requirements related to password management . This policy should require employees to change their password on a regular basis , avoid using the same password for multiple accounts , and use special characters in their password . +
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