Getting Started With Two-Factor Authentication (2FA)
Security Boulevard, Wednesday, September 20,2023
Each year, businesses spend over $15 billion on cyberattack recovery costs. Cyberattacks can be devastating in the short and long term for several reasons, including loss of productivity, decreased revenue and damage to reputation.
It is absolutely critical for businesses to not only be aware of the risk factors for and the signs of a cyberattack, but to be proactive in mitigating these threats. User credential compromise is one key attack vector used by threat actors and businesses must guard against this threat. One way to achieve that is with two-factor authentication (2FA), where users are required to provide two different methods of verification, such as a password and an SMS code.
With 2FA, the threat of being hacked can be almost entirely eliminated. But just one-third of organizations use 2FA or have any policies in place. While businesses have been slow to adopt 2FA, consumers' expectations have risen when it comes to the technology, as almost three-quarters use the technology on a regular basis to protect their personal information.