Multi-factor authentication is critical for providing a further layer of security to your business. According to WatchGuard Technologies ‘61% of firms believe multi-factor authentication isn’t for small businesses.’ So, here’s why its crucial for small businesses to adopt this method of security.
What is Multi-Factor Authentication?
Quite simply, it’s another method of protection that works in addition to passwords. It provides an online account with a second layer of security. However, it doesn’t replace passwords. Biometrics, one-time passwords and verification codes are all examples of multi-factor authentication. This is available for Office 365, Apple ID, Google, Facebook, and Twitter, as well as many other services.
Why is Multi Factor Authentication so Important?
To the individual user, multi-factor authentication matters because it protects personal information like email accounts and social media. Therefore, password security is vital for small businesses. Businesses need to use this approach to protect company documents, financial records and client information. If this was hacked or stolen it could be detrimental for the business.
Cyber related fraud cost UK businesses an estimated £29 Billion in 2016, We consistently see that in a large percentage of cyber incidents, had individuals had some sort of multi-factor authentication, they would have at least delayed—or made it slightly harder—for attackers to gain access. – Peter Lycett | Operations Director (AMB Insurance)
Businesses should be sure that users, both internal and external have this security measure in place.
“47% of IT managers said they believe that SMB employees use weak passwords, and 30% said they believe that employees share passwords” Source: WatchGuard
In short, multi-factor authentication should matter to everyone, it’s a simple step to make sure your business stay’s secure.
Steps you should take to improve security…
Even without multi-factor authentication in place, Small Businesses can still take other steps to protect their data. Start with a clear password policy, documenting how employees should be maintaining their accounts. Including regular password changes and complexity requirements. You could even start with the absolute basics and notify employees of the risks associated with having an insecure password.
Looking for more IT Security tips and Tricks? View our latest blog post about ways you can improve security and protect your business.
Multi-factor authentication is one of the easiest, most straightforward ways to keep accounts protected, If you want to start building a solid foundation for your business IT security please contact us, we’d be happy to hear from you. (email: email@example.com / Tel: 01782 365124)