WHY EVERY BUSINESS NEEDS 2-FACTOR AUTHENTICATION TODAY

What is 2-Factor Authentication?

Have you ever forgotten your password online and you were asked a recovery question or a code was sent to the phone or email you used to register for that particular site/app?

That is a typical example of 2-Factor Authentication.

Two-factor authentication (also known as 2FA) is a type of multi-factor authentication. It is a way of confirming user identity by using a combination of two different factors: 1) something they know, 2) something they have, or 3) something they are.

Another good example of two-factor authentication is the withdrawing of money from an ATM; only the correct combination of a bank card(something the user possesses) and a PIN (something the user knows) allows the transaction to be carried out.

Two other examples are to supplement a user-controlled password with a one-time password (OTP) or code generated or received by an authenticator (e.g. a security token or smartphone) that only the user possesses.

Why 2-Factor?

There are many reasons why you should always opt for 2FA, some are listed below:

  1. 65% of people use the same password on all their login accounts which is like having just one key opening everywhere in your house.
  2. 90% of all staff passwords are hackable in just under 6-hours.
  3. The most common password in the world is the word “password”.

With these, it is not difficult to see why 90% of staff passwords are considered “hackable”.  2FA is a means to keep your accounts safe from cyberhacks.

2FA is compulsory for the following:

  • online banking
  • online shopping(Amazon, PayPal – though it’s only available for a few countries)
  • email(Gmail, Yahoo, Outlook)
  • cloud storage accounts(Dropbox, Box, Sync)
  • accounts on social networks(Facebook, Twitter, LinkedIn, Tumblr)
  • productivity apps(Evernote, Trello)
  • password managers(LastPass)
  • communication apps(Slack, Skype, MailChimp)

So, now that you know, update your apps, systems and servers everywhere for maximum safety. If you need extra layers of security – as an organization or as an individual, the you should definitely check out sidmach’s security portfolio via this link HERE.