3 reasons your business can't ignore two-factor authentication

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Login security breaches have become commonplace in recent years.

Phishing attacksMalware that collects all of your keystrokes

Account Hacked

Your account has been broken into and hacked

42%

Stolen passwords

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However... research has shown that 2/3 of all breaches are specifically the result of weak or stolen passwords.

The once reliable password has become the weakest link.

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Two-factor authentication is a simple, yet powerful way of increasing security via the user login sequence, by simply adding a second factor of authentication to the standard username and password.

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To fully understand the power of two-factor authentication, we need to have a basic understanding of authentication itself.

Authentication - the process of verifying your identity - boils down to 3 simple elements:

Something the user owns (mobile phone, device)

42%

Something the user is (biometric, retina, fingerprint)

Something the user knows (PIN, password)

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Two-factor authentication is a combination of 2 of any of these unique identifiers and frequently includes information about something the user owns and something the user knows.

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The use of biometric information is less common since fingerprint or retina recognition software is expensive and difficult to implement.

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With two-factor authentication, the login sequence requires a password and an authentication code which is sent directly to the user’s device.

42%

3458

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Although incredibly simple, incorporating these two separate identifiers in the user login process, creates a level of protection and security for the user that even the most complex password can no longer allow.

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The brilliance of two-factor authentication is that it provides a seamless and cost effective solution by simply leveraging something the user already has.

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So this is good news for online security but what are the other benefits?

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Using two-factor authentication not only adds an extra layer of protection to your accounts but also acts as a deterrent.

Although an attacker may be able to compromise one layer of your authentication, it is incredibly difficult to compromise both.

An attacker is far more likely to move to an easier target with just one layer of authentication to login credentials.

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With two-factor authentication, the risk of your data being breached is less, even if you are subject to an attackOnce you are also using something you have or something you are, as additional layers in your authentication process, your identity and data should be safe even if passwords or other personal data have been exposed in an attack

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Two-factor authentication has the added advantage of alerting you to unauthorized attempts to access your account, for example, receiving a text message with a passcode when you aren’t using your account.