The Most Important Password Protection Your Business Needs

Password protection services have been in existence since the 1970s. The first system simply stored your passwords to allow users to reassess them if they forget or misplace them. Now, password protection technology has developed into something much safer and secure.

Multi-factor authentication is the latest and most secure system any business can use to secure their assets.

What Is Multi-Factor Authentication?

Multi-factor authentication (MFA) is simply a double wall to get through to access online data. It is similar to a door that has a double lock: you need to be able to open both locks to get through. 

The first layer to multi-factor authentication is your usual password. After entering that, you will be asked to confirm a unique number, sent to a device, like your phone or via email. Both passwords then allow the user to access the data or system they are trying to use. 

The multi-factor authentication adds extra security to your assets and makes your business less vulnerable to cybercrime.

Cody Rivers, the Chief Technology Officer of AIS—an IT company in Lafayette specializing in providing IT support and security for businesses—said, “With the increasingly sophisticated methods of cyber attacks we’re seeing, it’s more important than ever for every business and individual to protect their information through use of strong password hygiene, multi-factor authentication, and other cybersecurity strategies in a multi-layered approach to security.”

How Multi-Factor Authentication Protects Your Business

There are several ways in which cyber attackers commit security breaching crimes. It is essential to know what to look out for and why multi-factor authentication can prevent hackers from breaching your data. 

Their first port of action is usually social engineering. Hackers can gain access to business and personal accounts through phishing. Phishing can occur through email scams, phone calls, or pop-ups. Typically, hackers will aim to trick the vulnerable person into confirming confidential data. 

The second option hackers use brute force attacks, which involves the hacker guessing your passwords. If a hacker does guess the password and requires the number, your device will be flagged, and you will immediately be alerted of a hacking attempt. 

Hence, with multi-factor authentication in place, it makes it much harder for the hacker to intrude into your data as they will not have access to the unique number that will be sent to your chosen device. The authentication system prevents hackers from entering quickly as there are two barriers they need to break down. Even if they break down the first wall with your password, your business will be on the case immediately before they break down the second barrier.

Implementing multi-factor authentication can be fairly simple, but to fully roll it out over a large enterprise, many businesses rely on a trusted IT company to help them implement this and other security measures.

Why Your Business Needs Multi-Factor Authentication

You may question why your business needs an advanced password protection system like multi-factor authentication. Unfortunately, cyberattacks on companies that work online are not going to stop any time soon. No matter your business, security structure, and authority, cyber crime can still occur.

It is estimated that one business is attacked by a cyberattack every 39 seconds. With that said, more than 150 companies are at threat every hour. Upgrading your businesses with a multi-factor authentication will increase security and reduce the risk of data being breached. 

As businesses rely more and more on the online space, it is essential to protect your assets as much as possible. A multi-factor authentication password protection system is a safer way to reduce your business’s vulnerability and improve security.