As the cyber threat landscape continues to grow, you must do everything you can to make sure your accounts are secure. What can you do to add an additional layer of security to your accounts? MFA or multi-factor authentication! You may be asking, “what is multi factor authentication?” Read on to learn more!

Imagine hackers gaining access to your bank account using reused user credentials. The first thing they do is try to log into your account. But wait, it is asking for a code that was sent to your cell phone! The hacker can’t go any further without that code. MFA just saved you from being hacked! Hackers almost had complete access to your bank account.

Thankfully, MFA was turned on and you were notified of the login attempt. Hackers could have gained access to all of the funds in your bank account.

What is Multi Factor Authentication (MFA)?

First off, what does MFA stand for? The answer is multi factor authentication. It is also known as 2FA or two-factor authentication. MFA is an electronic authentication method in which a user is granted access to a website or application only after successfully presenting two or more pieces of evidence to an authentication mechanism. This can be done via text message, phone call, email, or application. It is unlikely the cybercriminal has access to your phone leaving them unable to access your accounts even if they do have your credentials.

If you are one of the 54% of consumers using five or fewer passwords for all accounts, hackers could easily gain access to your accounts by cracking only one password. MFA is an additional layer of security that could prevent them from gaining access to your accounts.

We use an MFA application called Duo! It makes MFA easy and simple, all of our authentication codes are in one place. We recommend turning on MFA on all accounts whenever possible.

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Why is Multi-Factor Authentication important?

MFA is critical in keeping your accounts safe. If a hacker gains access to your account credentials, MFA may be the security layer that stops them from getting in. Using MFA dramatically increases your security stance.

What is an example of Multi-Factor Authentication?

According to LastPass, 61% of people use the same password on multiple services. If hackers gain access to one account using one set of credentials, they are going to try other accounts assuming you are reusing your username and password. According to the 2021 Data Breach Investigations Report by Verizon, weak or stolen credentials are cyber criminals weapon of choice used in 95% of all web application attacks.

What else can I do to secure my accounts?

Take the layered security approach. Each security layer must have the appropriate protection in place to prevent any vulnerabilities or loopholes.  We compare layered security to an onion. Each “onion layer” needs the proper protection in place to mitigate threats and risks. Each security layer should be evaluated to assure the foremost solutions are in place to avoid any possible loopholes.

Other security layers in addition to MFA would be a password manager and data encryption. If you are currently reusing your passwords, we recommend you look into a password manager. Password managers store all of your passwords in a secure vault. All you have to remember is one master password! The password manager creates strong and unique passwords for you so you can sleep well at night. Ask us about a password manager today!

In Conlusion, Multi-Factor Authentication is Crucial for Security

MFA makes it difficult to hack into accounts, it adds an additional layer of security to your online accounts. Remember to enable MFA on all accounts when possible. Find an MFA method you like whether it be via text message or an app like Duo!

Hopefully this post answers your questions if you’ve been trying to understand what multi factor authentication is. Want to learn more about MFA? Give us a call today at 479-242-2811 or shoot us an email at