A Definitive Guide to Multi-Factor Authentication (MFA)

According to cybersecurity reports and statistics, a ransomware attack occurs about every 10 to 11 seconds. This shows how widespread ransomware threats are and emphasizes the need for strong cybersecurity measures.

If that’s not scary enough, consider how Artificial Intelligence is used in ransomware to give it superpowers!

By 2025, cybercrime is forecast to cost $10.5 trillion.

Thankfully, tech businesses are hot on the tail of cybercrime in all its forms, so you can protect your business and its data and help your staff stay safe online.

One great combatant to cybercriminal activity is multi-factor authentication (MFA). This type of security proves you’re honest, i.e., not a bot and the legitimate user requiring access.

MFA goes a long way in preventing easy access to networks and data.  In short, it can stop opportunistic hackers from stealing your credentials.

What does multi-factor authentication mean, and why is everyone adapting it? This article provides more details on how MFA works.

What Is Multi-Factor Authentication?

You’ve probably heard of 2-factor authentication when signing into your email. Well, multi-factor is the same thing.

It’s a security enhancement requiring users to use multiple forms of identification. For example, when you log into an email account, you use a username and password.

With multi-factor identification, users must supply another piece of evidence. Your email account may text a number code to your smartphone. Once you receive the code, you must enter it to retrieve your emails.

This is a significant enhancement when your business uses enterprise password management.

How Does MFA Work?

There’s more than one type of MFA: Application and Device MFA. Application authentication allows a user to gain access to multiple applications, while device MFA activates at a single log-in point.

Both require authentication factors.

A user must pass identity verification before accessing an application or network. Identify verification accesses three types of authentication factors to give users a pass:

Knowledge

The knowledge factor concerns something the user already knows. In most cases, it’s their username, password, ID numbers, SSNs, etc. Users would first use these combinations when they attempt to sign in to the application or device.

Possession

A user has possession—a token, device, or key. Some great examples of possession are USB devices, key fobs, and smartphones. If an MFA system sends a temporary sign-in code, users will access it on their phones.

The smartphone demonstrates that the user possesses a phone that no one else does. This helps secure identity in the verification process.

Inherent

Inherent factors concern the user’s identity and physical body. Basic authentication recognizes someone by sight or sound. Some examples include photo identification, face ID, and fingerprint scans.

Some other inherent factors include retina scans and diagnostic work like blood tests.

Consider Enhanced Sign-on Security

Cybercrime, by the numbers, is frightening, and ignorance is no excuse. You can improve security in many ways when you access any site online.

Multi-factor authentication protects your private computing data, and you’re no longer the weak link for cyber attackers. Consider the process and implement this enhanced feature to upgrade your internet security. While it’s easier not to do it, the cost of having an MFA could be your identity.

We have more ideas, tips, and information for you and your business to help you stay cyber-secure. Check out our security category for the latest tips.