Strong passwords with Multi-Factor Authentication

Data breaches, phishing attacks, and credential stuffing are just a few of the dangers lurking around every corner. A simple username and password just isn't enough to protect your valuable information anymore.  That's where Multi-Factor Authentication (MFA) comes in. 

A. What is Multi-Factor-Authentication?

Multi-factor authentication (MFA) is a security mechanism that adds an extra layer of protection to user accounts and systems. It requires users to provide multiple forms of identification or authentication factors to verify their identity. Typically, MFA combines something the user knows (like a password or PIN) with something they have (such as a smartphone or security token) or something they are (like biometric data such as fingerprints or facial recognition).

By requiring multiple factors, MFA significantly reduces the risk of unauthorized access, as an attacker would need to possess multiple pieces of information to bypass the authentication process. This method has become widely adopted in various domains, including online banking, email services, and corporate networks, to enhance security and protect sensitive information.

There are many examples of MFA authentication:

• Knowledge: something a user knows, such as passwords.

• Possession: something the user has, such as an access badge or an OTP sent to an email address.

• Inherence: something the user can prove, such as fingerprints or behavioural analysis.

• Time: a time window such as OTP.

Two-factor authentication vs. Multi-factor authentication vs. Single sign-on

Security measures are important to protect sensitive data. But what do terms like 2FA, MFA and SSO actually mean and how do they differ? To give you a better understanding, we have summarised the most important differences between these authentication methods in a clear list:

• Two-factor authentication (2FA):
  
  • Requires two specific forms of identity verification.
  • Examples: Password + SMS code, password + authenticator app.
  • Focus is on increasing security through an additional level of verification.
    verification level.
  • Is a subgroup of MFA.
    
    
• Multi-factor authentication (MFA):
  
  • Requires more than two forms of identity verification.
  • Examples: Password + fingerprint + security token.
  • Provides higher security than 2FA through multiple levels of verification.
  • Provides a higher level of security than 2FA.
    
    
• Single Sign-On (SSO):
  
  • Allows users to access multiple applications with a single 
    single set of credentials.
  • Examples: Logging into a corporate portal that allows access to multiple applications.
  • Focuses on improving the user experience by reducing the number of logins required and on simplifying the login process.
  • Can be used in combination with 2FA or MFA to optimise both security and usability.
    
    

B. Multi-Factor Authentication: Why you should change your simple password?

Our need for simplicity and often by utilising the same password for multiple accesses becomes one of our biggest cybersecurity vulnerabilities. Accessing your devices, emails, and accounts can be a chore especially when having to remember complicated and irrelevant passwords. But having simple passwords can backfire when it comes to hackers. Reliance on passwords alone leaves companies vulnerable, especially with weak passwords such as; 123456 which topped 2018 as the most commonly used and hacked password.

The increasingly realistic phishing emails and with the media regularly reporting about new leaks, almost all websites demand minimum lengths and character combinations to make passwords more secure. More companies are developing the cybersecurity awareness of their employees with training courses. 

In Singapore, 60% of businesses agree that their cybersecurity practices are outpaced by the rapidly expanding nature of cloud applications. Other inept security practices which allow cybercriminals to compromise your data include a lack of encryption appliance and multi-factor authentication. While data breaches can have a clear impact on a business' bottom line, it is not only the sophisticated cloud technology that has increased this problem but also the elementary security practices of most companies.

C. How does Multi-Factor Authentication work?

Mutli-Factor Authentication is a easy way to protect your sensitive data. Find out how it works in 5 steps:

1. The user initiates the login process by providing their username or email address.
2. The system prompts the user to provide the first factor, which is typically something they know, such as a password or PIN.
3. After the first factor is verified, the system prompts the user to provide an additional factor, which could be something they have, like a smartphone, or something they are, like biometric data (fingerprint or facial recognition).
4. The user provides the second factor, which is then validated by the system.
5. If both factors are successfully verified, the user is granted access to their account or system. However, if any of the factors fail to authenticate, access is denied, and the user may be prompted to try again or take alternative actions (such as password reset).

D. Advantages of Multi-Factor Authentication