Implementing cyber security measures to ensure your online identity is protected is a critical element of internet safety. Sometimes, cyber security is a lengthy process and takes time and effort to enforce, but a multi factor authentication system is an easy way to improve access control that makes a difference to your personal and business security.
This article will take you through the definition of multi factor authentication, ensuring you know exactly what this type of security is and how it can benefit you. We will detail the different kinds of multi factor authentication and how you can apply them to gain access to your accounts.
What is Multi-Factor Authentication?
Multi factor authentication, also known as MFA, is an authentication process to protect a user’s identity. Generally, users will use two-factor authentication to access their online accounts. There are multiple authentication factors that are commonly used, including; biometrics, face verification or a security authentication code sent to the user’s mobile device.
Setting up multi-factor authentication aims to ensure that only the user can access their online information, restricting access for unauthorized users. Regarding personal use, multi factor authentication is an easier way to leverage online safety for multiple accounts without setting up extensive security systems that those who don’t have the time or money to do so
Why Should You Use Authentication Factors?
For businesses, user authentication is an excellent way of ensuring that only specific employees can gain system access. Implementing MFA authentication methods will prevent security breaches, helping businesses to improve their internet security.
Although those who use the internet and mobile apps for business and leisure will already have passwords, a password isn’t enough to protect personal data. Often, users may have similar passwords for all their accounts (which is highly frowned upon), making it even easier for hackers to perform a cyber attack successfully.
Multi-factor authentication is an extra layer of security, improving the way general passwords and essential security measures perform independently. It is a simple way of adding an additional layer of protection whilst helping businesses manage online identity verification more easily.
The Types of Authentication Factors
We briefly mentioned the commonly used authentication methods, but there are many that businesses and individuals alike use. We can split the way authentication methods work into three categories; knowledge, possession and inherence.
Knowledge Factor Authentication
With knowledge authentication methods, we are referring to authentication methods based on user knowledge. These methods could be any of the following;
- Passwords
- Security questions that require you to enter an answer that only you would know (first pet, first car etc.).
Knowledge factors aren’t the most secure, but they are prevalent and are usually the first wall of security you will reach when logging into an account.
Possession Factor Authentication
As the name suggests, authentication regarding possession is based on things you own and will need to be used to access specific accounts. Here are some possession methods;
- OTPs sent to a mobile device or an email account
- Security keys, fobs, security tokens and physical token measures
- Smartphone authenticator app OTP
Inherence Factor Authentication
This authentication method involves biometrics and is an excellent way for businesses to restrict access to specific points of their buildings or cyber areas. The following biometrics can be used for multi factor authentication;
- Fingerprints
- Facial recognition
- Voice recognition
- Iris scanning
Which Type of Factor is Best?
It is common for users to have a double authentication method in place, with at least knowledge factor authentication enforced. The trouble with having just knowledge factor methods is that this data can be weak and easy to hack, which is why it is best to use an additional security method that includes either inherence or possession.
Generally, inherence is the best authentication method for personal use as it is quick to work and doesn’t involve typing in other pins as possession factors do. However, for users that aren’t quite so confident with technology, biometrics may not be as accessible, and these users may prefer possession factors for ease of use.
A physical security token or key is likely the best and most secure option for businesses. This factor falls under possession and will grant an employee access to sensitive data when plugging the key into a laptop’s USB port.
The Benefits of Using Multi Factor Authentication
It is estimated that over 80% of security breaches occur due to weak or reused passwords. Multi factor authentication adds an extra layer of security to these passwords, so if someone were to guess a weak password, they would be faced with another authentication method preventing them from gaining access to the account. This is the main benefit of multi factor authentication and is why so many businesses and people use it.
As there are clear benefits to using multi factor authentication, it is essential to delve into how this type of security can influence different businesses and why specific industries thrive when using MFA authentication methods.
Healthcare
The healthcare industry may not seem like a significant sector for cyber security threats to arise, but they are becoming increasingly common as patient information is taken online. Hackers can infiltrate accounts to access private patient records that put both patients and healthcare providers at risk.
It is estimated that hackers try to manipulate employee data to access servers and higher levels of data, so multi-factor authentication is most important for healthcare employees and companies to implement to prevent this from arising. Having a password is not enough to protect the large amounts of data available on healthcare databases.
Accounting
It is no surprise that financial and accounting industries are susceptible to cyber attacks, with banks and accounting branches aiming to find the highest standard of cyber security to prevent these attacks from occurring.
There is much to protect regarding accounting. If someone were to hack into a customer’s bank account, they would have access to more than just their money. From their bank card information to social security numbers, there is much at stake if a bank account hack occurs, and these issues can take years to solve.
This is just one of the reasons why multi factor authentication is essential for accounting and finance companies to implement in their protocols. Only authorized users should have access to online banking accounts, and authentication procedures are becoming more common for users to pursue whenever making an online shopping purchase to prevent anyone from using their bank card information.
Physical measures can also be put in place if a bank feels that fraudulent activity could be occurring. Sometimes, banks will request that their customers use their PIN the next time they buy something in person, ensuring any previous contactless action was committed by the customer, not a hacker.
Legal
Legal industries house an incredible amount of data, from financial information to economic records. Whether an employee works for the government or a smaller legal firm, phishing is a huge issue that sees hackers pose as trustworthy sources to gain employee credentials to access accounts and private information.
Again, having multi-factor authentication in place will prevent these issues from arising, allowing only authorized users to access information. Whether legal companies use physical or digital means to authorise those trying to access data, it will leverage security if a password is ever given out or infiltrated.
FAQs
What are the benefits of using multi-factor authentication over single-factor authentication?
Multi factor authentication provides users with a more secure way of protecting their accounts and is much more effective than single-factor authentication. Multi-factor authentication is a safety blanket that prevents hackers from accessing your account.
What is the strongest form of multi-factor authentication?
The strongest form of multi-factor authentication is physical security keys, which are best used for businesses or companies with sensitive data that needs the highest level of protection.
Is two-factor authentication really necessary?
Two-factor authentication is essential for keeping your online accounts secure and eliminates the risks of hackers gaining access to your account. You can use biometrics, security questions, OTPs, facial recognition and many other authentication methods to improve your account security.