The Importance of Multi-Factor Authentication

Cyber attacks continue to rise and we are all looking for ways to secure our accounts and online information. Unique usernames and password alone no longer cut it and adding more security questions will not always solve the problem. Cyber criminals have ways of discovering and storing this information to access your data across multiple accounts. One added method of security is multi-factor authentication.

What is Multi-Factor Authentication?

Multi-factor authentication, also known as two-step authorization or two-factor verification, is usually an opt-in feature for accounts. With multi-factor authentication, you must prove YOU are the one trying to access an account. When you log in to an account, website, or app secured with multi-factor authentication, the account will send you a time-sensitive, unique one-time code or password (typically via text message or email) that you must provide to prove that you are really YOU.

This feature is available on most social media and email platforms, as well as many software programs used by businesses. Some accounts give you the option of using multi-factor authentication every time you log in or you can choose to just use multi-factor authentication the first time you log in from a new computer or device.

Do I Really Need Multi-Factor Authentication?

Absolutely! This is a simple extra step that improves your security. Cyber criminals will not only need to have your account information (username and password) but also have access to your phone or email. Multi-factor authentication makes it more difficult for someone to log into your accounts on a device or computer that you do not have sitting in front of you.

While no cyber security method is totally foolproof, using multi-factor authentication will add another line of defense to securing your online accounts and information.

IBA knows that in order for your business to grow and flourish, it has to be protected. Our cyber liability policies protect you and your business from a variety of modern-day threats. We work closely with you to uncover potential risks and prevent unexpected issues. We help pinpoint where your business can be susceptible to cyber attacks, the processes you can put into place to help prevent them, and the insurance to help you recover financially. Contact us for more information.

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