Taking steps to ensure that sensitive data remains safe and secure has never been more important. The growing sophistication of malware attacks combined with the greater volume of sensitive data and personal information stored online means that conventional password protection is rarely adequate. Failure to take additional precautions can drastically increase the risk of a data breach, one that may lead to identity theft, compromised financial data or ransomware attacks. Multi-factor authentication offers an additional layer of protection, one that can go a long way towards protecting private data.
Seeking Authentication From Multiple Sources
Single source authentication, like providing a simple password in order to gain access to an account, often proves to be far less secure than many users expect. Failing to provide the additional security that a challenge question, email authentication or other additional security factor is able to provide means that even the most sensitive data is only one password away from being breached. Additional authentication protocols are even more essential in situations where users utilize weak passwords, share the same password across multiple accounts or fail to update their password for long periods of time.
Passwords Alone Are Insufficient
There are multiple sophisticated tools and tactics that may be employed in order to obtain an account password. Shorter passwords can be vulnerable to brute force attacks that utilize automated software to cycle through random characters until the correct combination has been discovered. Even the most secure passwords can still be obtained through social engineering efforts or in the event that the account holder or service provider itself suffers a data breach. Understanding how multi-factor authentication works and how it is able to provide an additional layer of security can ensure that users and account managers are able to do what it takes to keep sensitive data from falling into the wrong hands.
Understanding the True Cost of a Data Breach
The full consequences and total cost of a data breach can extend far beyond a single compromised account. Identity theft can ruin credit history, place financial accounts in jeopardy and do long-term damage to an individual’s personal and professional reputation. Businesses that suffer a data breach could find their image tarnished as well as having their customer and client relations damaged beyond repair. Failure to take the steps necessary to beef up account security and to ensure that all personal information and sensitive data can be made as secure as possible can be nothing short of a disaster.
Evolving Threats and Emerging Risks
Today’s online threats are far more sophisticated than they were a few years ago. The The additional risk caused by evolving security threats calls for superior security solutions. Those who allow themselves to fall behind the times are increasingly at risk of suffering from a data breach or becoming the victim of a cybercrime. Implementing an added layer of online security can often be done for a fraction of the overall time and expense that may be needed to address a breach after the fact.
Both companies and private individuals are electing to conduct their business online in greater numbers than ever before. The threat of cybercrime has also increased alongside our increasingly digital world. Inadequate security precautions and outdated methods for protecting data have become a major liability, one that can no longer be ignored. Multi-factor authentication is rapidly becoming the industry norm and those who continue to make due with nothing more than basic password protection for their data, accounts and personal information could be making themselves into an easy target.