When large organizations like LinkedIn, Twitter and Facebook report password hacks, it throws some light on how vulnerable current systems are, as well as the need for multi-factor authentication. However, multi-factor authentication is shrouded in myths that may prevent organizations from adopting it.
Here, we have addressed a few of the most common myths surrounding multi-factor authentication.
Multi-factor authentication (MFA) is one of the most highly recommended security measures in this age of brute-force attacks, data breaches and other such cyber attacks. And while some off-the-shelf SaaS applications may already come with a built-in MFA feature, when it comes to a custom-built application or website, businesses have to make the tough decision between reinforced security and the high cost at which it comes.
As mobile phones became more sophisticated, their usage shifted from being communication oriented to application oriented. But phone numbers were never intended to be used as secure identifiers – their purpose is to simply act as subscriber identifiers during call routing. When applications use phone numbers in their login processes, it can give attackers and hackers an advantage.
Here are a few ways in which your OTP can be intercepted by hackers:
Ever heard of the butterfly theory? A single flap of a butterfly’s wings in Australia has the potential to cause a tsunami in Indonesia. Similarly, a minor tweak in your IT infrastructure has the potential to make every node of your network vulnerable to serious attacks, irrespective of their relationship. To ensure that network security remains as streamlined as possible through any number of changes to your IT systems, it is crucial to add a virtually unhackable component to your network security.
Is the only thing standing between your business’ critical data and a cyber attack a set of usernames and passwords? If yes, then it’s definitely time for a security upgrade for your cloud and on-premise applications.
We are increasingly using applications on our smartphones for business and personal purposes. Everyday activities have become much easier and more efficient to perform; what used to take us days to process can take us seconds today.
Adaptive authentication, method for enforcing the right authentication factors depending on users profile and tendencies. It acts to balance the level of trust against risk.
Adaptive authentication is the way that two factor authentication or multi factor authentication can be configured or deployed.
Whether or not you know what it is called, you have likely used 2FA at least once in your life online.
Remember the time you tried logging into your email account from a new device and your email service provider sent you an SMS with a PIN (OTP), to re-validate that it was actually you attempting to login? You would have been allowed access to your inbox only after you entered the correct OTP.
Or the time you tried to transfer money to someone through internet banking. Even though you already entered your customer ID and password, your bank’s application would want to make sure that someone else hadn’t stolen your credentials. They do this by sending you an email with a PIN or a link to click on, for additional validation.
