Securely protecting your organization’s data and network has never been more important. Our primary line of defense for doing this, especially as companies start to really lean on cloud solutions to bring a level of cost control they hadn’t established before, is the password. The less secure the password, the less secure your data. If you are going to rely on passwords as the priority safeguard for your business accounts, you need to be using two-factor authentication (2FA).
Today, we will discuss why 2FA or multi-factor authentication (MFA)—or whatever the application calls it—is mandatory today for most business and personal accounts to help keep them secure.
What is 2FA, Anyway?
2FA is a security strategy that requires you to provide two different types of credentials to verify your identity. The first is almost always a password. You are told that you need to come up with complex, unique passwords for every account you have. This is a best practice for most digital users. These typically fall into three categories:
- Something you know - Your password.
- Something you have - A physical token, your phone (for codes), or a hardware key.
- Something you are - A biometric like a fingerprint or facial scan.
So, instead of just entering your password, you might also enter a code sent to your phone, or tap a security key. This significantly raises the bar for anyone trying to access your account.
2FA Gives Your Accounts a Significant Boost in Security
For the vast majority of users, 2FA provides a substantial increase in security compared to just using a password. Not only does it reduce unauthorized access from compromised passwords, it stymies brute-force attacks and even reduces the overall impact of phishing attacks that are getting more and more sophisticated by the day.
Google and Microsoft, two of the most important technology companies for businesses, have consistently reported a dramatic reduction in successful account takeovers for users who enable 2FA. This real-world data strongly supports its effectiveness.
Is 2FA a Fail Safe? Not Quite.
While 2FA is a powerful security measure, it's not quite a steel trap. No security system is 100 percent foolproof, and 2FA does have its vulnerabilities, though they are deliberately more complex to exploit. Let’s take a look at a couple of ways scammers and hackers can get around 2FA.
MitM Phishing
We just told you that 2FA works to reduce the impact of would-be phishing attacks; which is true. Advanced phishing attacks, sometimes called man-in-the-middle (MitM) attacks, can trick users into entering both their password and 2FA code on a fake website. The attacker then relays these credentials to the legitimate site in real-time, gaining access. It’s sophisticated, but hackers will do anything they have to to gain access to the account they target.
SIM swapping
In a SIM swap attack, criminals trick your mobile carrier into transferring your phone number to a SIM card they control. This allows them to receive your 2FA codes sent via SMS. Again, a lot of effort initially, but once they control your SIM, they have freedom of unlocking any 2FA-connected account.
Malware
Certain types of malware can be designed to intercept 2FA codes on your device or even control your device to bypass 2FA prompts. This is scary, but malware usually is.
Social engineering
Attackers can sometimes use social engineering tactics to convince customer support representatives to reset your 2FA or grant them access should they get enough relevant information about you. It’s important to be conscientious about how and where you share personal information to avoid having it used against you.
Physical theft of your device
If an attacker gains physical access to your phone or hardware security key, they could potentially bypass 2FA if your device is unlocked or your key is unprotected.
Not All 2FA Is Created Equal
It's important to understand that the security of 2FA can vary depending on the method used:
- SMS-based 2FA - While convenient, SMS is generally considered the least secure form of 2FA due to vulnerabilities like SIM swapping.
- Authenticator Apps (TOTP) - Apps generate time-based one-time passwords (TOTP). These are generally more secure than SMS as they don't rely on your phone number.
- Hardware Security Keys (FIDO/U2F) - These devices are considered the gold standard for 2FA. They offer strong protection against phishing and malware because they cryptographically verify the website's authenticity before providing a second factor.
- Biometrics - Fingerprint or facial recognition can be convenient and relatively secure, but they are tied to the security of the device itself.
2FA Is an Essential Tool
Just how secure is 2FA? It's incredibly secure in preventing the vast majority of account takeovers and is an absolutely essential tool in your cybersecurity arsenal. It's not an impenetrable fortress. You should:
Always enable 2FA wherever it's offered; opt for stronger 2FA methods when possible (authenticator apps or hardware keys over SMS); be vigilant against phishing attacks, even with 2FA enabled; always double-check URLs and be suspicious of unexpected requests for login credentials; and, keep your devices secure with strong passwords and up-to-date software.
If you would like some help getting started with 2FA, give the IT professionals at Trailblazers Tech Solutions a call today at (281) 916-1101.
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