Cyber Security

5 Reasons your Business Needs MFA

Written by SysGroup Marketing

Multi-Factor Authentication (MFA) is an online security method that requires a user to provide more than one form of ID to gain access to a website, network or application.

MFA extends beyond the traditional methods of two-factor authentication (2FA), consisting of a three-pronged approach. MFA asks users to provide something they know, on something they have, in order to positively identify their person.

MFA has become increasingly important as the workforce shifts to a more flexible model. With 60% of the UK's working population working from home, your business' devices and networks have took on increasing pressure.

Are passwords no longer enough?

Considering the average user has almost 100 online accounts, password fatigue has become a real problem for your business. It's therefore no surprise that 80% of data breaches involve week or stolen passwords as the main vulnerability.

After all, it only takes one weak or cracked password for a cyber criminal to access all of your company's data and accounts.

With that in mind, how confident are you that your employees actively follow password best practice?

MFA is the single most important security enhancement you need to protect your business. Here's why:

1. Protect against identity theft

Cyber-identity theft is evolving. Attacks are getting more sophisticated as hackers develop increasingly realistic social-engineering methods. This means traditional password security is left vulnerable to the three main methods used to steal passwords - keylogging, phishing and pharming.

Since these cyberattacks involve obtaining legitimate account credentials, utilising an MFA system can stop them in their tracks. Your MFA tool will request additional information from the attacker before they're granted access to an account.

So, even if a cyber-criminal does manage to steal passwords from within your organisation, it's unlikely they'll be able to compromise the additional authentication factors.

As a WatchGuard Platinum Partner, SysGroup can secure your business network with AuthPoint, a cloud-based MFA tool that works in just five simple steps.

The AuthPoint MFA solution protects identities, reduces network disruption and block data breaches through its unique mobile DNA technology. It's large ecosystem of over 130 third-party integrations ensures protection is consistently deployed across your network.

Don't leave your business security to chance. Let us reduce the chance of hacking and fraud risks.

2. Eliminate the weak links

Passwords are only as strong as the user who made them. This isn't ideal when 52% of business executives believe their employees are the biggest risk to operational security.

Recent studies have shown that "123456", "password" and "qwerty" are still the most commonly used passwords. Even 50% of IT professionals reuse their passwords across different accounts. This gives cyber-criminals the perfect opportunity to hack into not only one of your internal systems, but multiple.

MFA can stop this from happening by asking users to verify their identity in various ways, the password alone is no longer enough.

Better still, the AuthPoint MFA solution can provide your business with broad coverage through a secure single sign-on (SSO). So, if you and your employees are struggling to remember a password for each account, SSO can make it easier to access multiple applications without the risk of a security breach.

This combats the challenges presented by password fatigue, as well as the costs associated with password resets.

If that's not enough, SysGroup can also provide your business with security awareness training to support the implementation of an MFA solution. Our training is set to make employees aware of the techniques used to target your business, preventing phishing scams that could otherwise go undetected.

3. Mitigate unmanaged devices

Over the last 18 months, there's been a sharp rise in the uptake of remote work. This has mean that employees are using their personal devices and less secure internet connections to access their organisation's network.

A compromised router can allow a hacker to install malware on a user's device, and personal devices usually aren't equipped with the powerful protection installed on a corporate machine. As a result, attacks go unnoticed, only becoming apparent once it's too late.

The average data breach consists of 9,350 records, costing £107 each. This equates to £1million in total. Can your business afford to compromise on security?

For the price of your morning coffee, you can implement and use the AuthPoint MFA tool from SysGroup.

Included in this is a low total cost of ownership as the tool is cloud-based, providing your business with coverage from any device at any time, as well as a zero-trust adoption that embraces a 'never trust, always verify' approach.

4. Get the most out of other security measures

Anti-virus software and firewalls are an excellent way to protect your business systems, but only if they're working properly.

Without MFA, your IT security is redundant. Software like anti-virus protection often provides employees with an open access gateway to log into their network. If an attacker gains stolen credentials, they can then access the system bypassing all other security measures in place.

That's not the worst of it either. Once an attacker gains access to your business' network in this way, they can disable any existing firewalls and anti-virus programming.

This can cause an obscene amount of damage, both in expenses and unrecoverable costs such as damaged company reputation, broken customer trust and lost work time.

Not only does MFA prevent bad actors from gaining access to your network in the first place, it also acts as a warning system that alerts you of any unauthorised attempts at access. This provides you with the opportunity to stop the attack before any damage is done, as well as allowing the other security tools you pay for to function as intended.

5. Increase productivity

If you're one of the many businesses embracing remote or hybrid working, an MFA tool can boost employee productivity. By implementing MFA, employees can safely access your business' systems from any device or location, without putting sensitive data at risk.

This mitigates the previously painful experience that included long calls to your IT team, downtime whilst waiting for access and time wasted remembering or resetting multiple passwords.

MFA can also enable enterprise mobility by playing a big part in your business' digital transformation. Allowing employees to use various devices to easily and securely access the business network increases efficiency and capacity.

Using MFA to log into business applications, especially when integrated with SSO, provides the flexible access employees need, whilst keeping networks and data protected.

Since AuthPoint is a cloud-based service, your team can enjoy MFA from anywhere, anytime. This ensures business operations are always running as expected, without complex integrations and burdensome on-premise management.

The risk of not using MFA

As of 2020, there are 15 billion stolen log-in credentials available on the dark web. This suggests that identity theft is a real problem, and it's easy to do too.

The reality is that 98% of cyber-attacks involve social engineering. This makes it harder for your employees to recognise phishing scams, meaning they're left vulnerable to sharing sensitive data and passwords.

If you're not using MFA, your business is quite simply wide-open to attacks.

MFA is the number one method to ensure your business is secure effectively and efficiently.

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