Advantages of 2-factor authentication: Double protection of sensitive company data
Hackers don't necessarily go after large companies, but those whose systems are vulnerable. Statistics say that around 70% of affected companies are hacked by compromising credentials. Large or small, companies need to take proactive measures to efficiently protect their networks. Among the most successful measures is the use of two-factor authentication (2FA).
What is 2-factor authentication?
The term 2-factor authentication (2FA) refers to securing online accounts with two layers of security. In addition to your password, you need another credential, through your email inbox, phone, fingerprint, or similar.
Your identity is thus verified by two independent factors, so that your account remains protected even if your password falls into the wrong hands.
Why 2-factor authentication?
Preventive IT protection against cybercrime
Data security
Passwords are very easy to hack, especially if they consist of easily guessable word and number combinations. With 2FA, it is no longer enough for the attacker to decrypt the credentials - he would also need to be in possession of the second factor (e.g., the email account) to access the attacked system or account.
Flexibility and mobility
The recent shift to remote work has increased the risk of attack because employees are no longer connected to the company's secure network infrastructure. With 2-factor authentication, employees can securely access corporate systems and documents from any location without compromising confidential data.
Reduction of support costs
Companies spend a lot of money notifying customers about suspicious activity on their accounts and helping them reset their passwords. With 2FA, there is less suspicious activity on customer accounts and therefore less support effort. In addition, 2FA can be used to easily reset forgotten passwords without requests to the support team.
Internet crime in figures
Hacker attack statistics
Increase in cyberattacks and data breaches in 2021 vs. 2020
of companies are hacked by compromising credentials (mainly due to the use of simple passwords)
of large companies have more than 500 employees who have never changed their passwords
of cyberattacks are carried out against small businesses
Conclusion
Two-factor authentication is a useful tool for any organization. Considering the potential financial, legal and reputational consequences of a hacker attack, the cost of 2FA implementation is relatively low.
If you want to protect your software and your company against hacker attacks, book a no-obligation 30-minute workshop with our experts. Call us on +41 43 255 68 68 or send us a message.