Why two-factor authentication matters for your business
Enhance your business security with two-factor authentication. Learn how 2FA protects accounts from phishing and data breaches.
Two-factor authentication, or as it’s commonly abbreviated, 2FA, is a way of securing your accounts through multiple authentication steps. In the past, 2FA was a complex to use… but today it’s simple and easy to implement in your business.
Why use two-factor? Passwords are prone to problems. If short enough, they can be cracked within seconds by hacking tools. Passwords can also be stolen through malware, phishing attacks and data beeches. Passwords are often reused, making more accounts vulnerable. 2FA adds the extra layer of security you need to protect your most important accounts and data.
Businesses everyday are barraged by phishing scams and malware attempts, trying to steal sensitive information like user credentials. It’s therefore important to implement 2FA across your accounts such as online banking, email and system admin logins.
How does Two-Factor Authentication work?
Whether it’s called Two-Factor Authentication (2FA), Multi-Factor Authentication (MFA), or Two-Step Verification (2SV), they all work much the same way…
When enabled on your account, a secondary authentication method is required. This can be an SMS PIN, or a code generated within an authenticator app on your phone or other device.
This second step makes it harder for criminals to gain access to your account. With the case of SMS, the hacker would need to also compromise your phone carrier to retrieve the SMS code. This proves a difficult challenge and therefore deters most criminals from proceeding further.
The benefits
Better account security across your organisation
Reduced data and financial theft
Less risk if passwords compromised
How do I set up 2FA?
Step 1. Identify which accounts needs 2FA.
We recommend enabling 2FA on critical accounts including: online banking, emails, accounting software, office365, facebook.
Step 2. Select an authenticator.
Popular apps include Authy, Google Authenticator, Microsoft Authenticator, or the standard SMS option. Each application can vary with compatibility.
Step 3. Navigate your security settings.
Most online applications today accept 2FA and you’ll often find this setting under Account or Security menu.
Step 4. Turn on / Enable 2FA and select your authenticator.
Once you’ve found a 2FA option, enable it and follow the prompts.
Step 5. Verify your authenticator.
Verify your authenticator app or SMS. This is usually done by providing a matching PIN code or scanning a barcode.
2FA Guides:
Risks with SMS authentication:
SMS code authentication poses some problems and can cause headaches to growing businesses. For example; your financial accounts manager goes on holiday and he/she is the only one with 2FA keys. The main threat to SMS authentication is a targeted ‘Sim Swap’. This involves a hacker using social engineering techniques to call up your provider and request to port the phone number to a new SIM card. This is often done when the target is asleep, offline or absent from the phone (i.e international flight).
The other downside to SMS is it relies on mobile reception and a physical phone nearby. If you are overseas without reception, your phone is broken or stolen; you can't authenticate. A cloud-based authenticator app solves this problem (see below).
NOTE: Email verification is the weakest form of 2FA authentication. Emails sometimes fail to deliver, inboxes may be shared with multiple employees, or hackers can gain access to your email and get the code.
Our recommendation:
At ShadowSafe, we often recommend Microsoft’s own Authenticator app. This app fits well within Office 365 environments and allows for a cloud-based backup, making it pain-free to switch/upgrade devices within your organisation. A cloud-backup also allows for multiple-authentication devices (i.e iPad and Android).
Need help implementing 2FA in your business?
Talk to our team today.
