Credential theft has reached an all-time high and is responsible for more data breaches than any other type of attack. With the majority of data and business processes now stored in the cloud, a user’s password becomes the easiest and quickest way for malicious activities to occur.
When an attacker gains access to a user’s account, especially if it has administrative privileges, they can send phishing emails from your company’s account to your staff and customers. Additionally, they can infect your cloud data with ransomware and demand a hefty sum to restore it.
To safeguard your online accounts, data, and business operations, one of the most effective methods is implementing multi-factor authentication (MFA). MFA creates a significant hurdle for cybercriminals, even if they possess a legitimate user credential. This is because they are unlikely to have access to the device required to receive the MFA code necessary to complete the authentication process.
What is Multi-Factor Authentication?
Multi-factor authentication (MFA) is a security system that uses multiple ways to confirm your identity when logging in or doing something important online. It’s like having more than one lock on your front door to make it harder for someone to break in. Each lock is a different way to prove it’s really you, like using a password and a fingerprint. If one lock is broken, there’s still another lock protecting your stuff. MFA helps keep your personal information safe from hackers and makes it harder for them to get into your accounts or devices.
Typically, MFA security systems require two or more of the following authentication methods:
- Something you know (like a password or PIN)
- Something you have (like a smart card or mobile device)
- Something you are (like a fingerprint or other form of biometric identification)
For example, to access an MFA-protected account, you may first enter your username and password. Then, instead of gaining immediate access, you’ll be required to provide another piece of information. This could be a code sent to your phone or a fingerprint or voice print. This additional layer of security makes it much harder for hackers to gain access to your personal information or corporate data.
Something You Have: The 3 Main Forms of MFA
When implementing multi-factor authentication (MFA) in your business, it is crucial to compare and evaluate the three main methods of MFA. It is unwise to assume that all methods are equal. There are significant differences among them, both in terms of security and convenience.
By taking the time to understand these differences, you can make an informed decision about which method of MFA is most suitable for your business. Some methods may offer higher levels of security, while others may prioritize convenience. It is important to strike the right balance between these two factors, ensuring that your business remains secure while also providing a seamless user experience.
Remember, MFA plays a vital role in protecting your sensitive data and preventing unauthorized access. Therefore, it is worth investing the necessary time and effort to choose the most effective and efficient MFA method for your business.
Now, let’s delve into these three methods and explore what they entail.
SMS-based Authentication
One commonly known form of MFA is SMS-based authentication. This method utilizes text messaging to verify the user’s identity and adds an extra layer of security to protect user accounts.
During the setup process of MFA, users usually provide their mobile number. Whenever they attempt to log into their account, a time-sensitive code is sent to their mobile device via text message. This code must be entered to complete the authentication process, ensuring that only the authorized user can access the account.
SMS-based authentication is a convenient and widely used method that leverages the ubiquity and reliability of text messaging. By utilizing this method, user identities can be securely verified, providing peace of mind and safeguarding against unauthorized access.
Authenticator Apps
Another form of multi-factor authentication, known as app-based authentication, utilizes a special application to deliver the authentication code. Instead of receiving the code via SMS, users generate the MFA code at login and receive it through the app. This is commonly achieved through a push notification sent to either a mobile app or a desktop app, depending on the user’s preference and device availability.
App-based authentication provides an additional layer of security and convenience. By leveraging this method, users can have peace of mind knowing that their accounts are protected with an extra level of security. The app-based approach ensures that the authentication code is delivered directly to the user’s device, reducing the risk of interception and unauthorized access. This not only enhances the overall security posture but also adds convenience, as users can securely access their accounts with ease without relying on traditional SMS-based codes.
With app-based authentication, users can enjoy the benefits of seamless and secure access while also having the flexibility to choose between a mobile or desktop app based on their preferences and device availability. This flexibility allows users to have a personalized authentication experience that aligns with their individual needs and usage patterns.
Security Key
The third key method of MFA involves utilizing a separate security key that can be physically inserted into a PC or mobile device to authenticate the login process. This security key, which is typically smaller than a traditional thumb drive, is purchased at the time the MFA solution is set up. It serves as the recipient of the authentication code and automatically implements it, adding an extra layer of security.
To ensure further authentication, the user must carry the MFA security key with them whenever they log into a system. This key, with its compact size and portability, provides an additional level of protection by requiring physical possession and usage for authentication purposes. By incorporating this method into the overall MFA framework, organizations can enhance the security of their systems and safeguard sensitive information effectively.
Which MFA Method Should You Use?
Let’s explore the distinctions among these three methods. By examining their unique characteristics and functionalities, we can gain a comprehensive understanding of their pros and cons, allowing you to make an informed decision about which MFA method is best for your business.
What is the Most Convenient Form of Multi-Factor Authentication?
Users often experience a sense of inconvenience and slowdown when using Multi-Factor Authentication (MFA). This feeling can be exacerbated when they have to familiarize themselves with a new application or remember a small security key, which raises concerns about losing it. As a result, companies may be tempted to compromise the security of their cloud accounts by opting out of using MFA altogether.
However, if you encounter user resistance and are searching for the most user-friendly form of multi-factor authentication (MFA), consider SMS-based MFA. This method leverages the familiarity of receiving text messages on mobile phones, eliminating the need for users to learn a new interface or install additional applications. By leveraging this existing communication channel, users can enjoy the benefits of enhanced security without the added complexity.
With SMS-based MFA, users receive a unique code via text message, which they can easily enter to complete the authentication process. This approach not only simplifies the user experience but also takes advantage of the widespread use of mobile phones, making it accessible to a large number of users. By opting for SMS-based MFA, organizations can strike a balance between security and convenience, ensuring a seamless authentication process for their users.
What is the Most Secure Form of Multi-Factor Authentication?
If your company deals with sensitive data on a cloud platform, particularly in your online accounting solution, it is highly advisable to prioritize security measures. One of the most reliable forms of Multi-Factor Authentication (MFA) is the security key. By utilizing a separate physical device, the security key ensures that your accounts remain protected even if your mobile phone is lost or stolen. In contrast, both SMS-based and app-based MFA methods would leave your accounts vulnerable in such situations.
It is worth noting that the SMS-based method is considered the least secure due to the existence of malware that can clone SIM cards, granting hackers access to MFA text messages. To evaluate the effectiveness of these three MFA methods in blocking different types of attacks, a Google study was conducted, which revealed that security keys demonstrated the highest level of security overall, successfully blocking all three attack types with a 100% success rate.
On the other hand, the SMS-based method had a varying range of effectiveness, blocking attacks between 76% and 100%, while the authentication app method showed a range of effectiveness between 90% and 100%.
Therefore, to safeguard your sensitive data and mitigate potential security risks, adopting a security key as your MFA method is highly recommended.
Authentication Apps Provide Security and Convenience
Authentication apps play a crucial and indispensable role in the realm of security. Situated between the other two popular methods of Multi-Factor Authentication, authentication apps offer a superior level of protection and peace of mind.
When compared to SMS-based MFA, using an authentication app that delivers the code via push notification adds an extra layer of security. By eliminating the vulnerability of interception or SIM card cloning, authentication apps ensure that only the intended user can access the protected accounts or systems.
Moreover, authentication apps provide a remarkable level of convenience. Gone are the days of carrying around a separate physical security key that can be easily lost or misplaced. With an authentication app residing on your mobile device, it is always accessible and readily available for seamless authentication. This not only enhances security but also improves the user experience, making the authentication process effortless and efficient.
By embracing authentication apps, users can enjoy the best of both worlds – robust security measures and a user-friendly experience. It’s a win-win situation that enhances both the security posture and the overall satisfaction of users.
Need assistance with implementing MFA at your company?
In today’s ever-evolving threat climate, multi-factor authentication has become an indispensable solution. It provides an additional layer of security to safeguard your cloud environment and protect your valuable data.
Let’s have a discussion about your specific barrier points, analyze potential vulnerabilities, and work together to devise a comprehensive solution that ensures the utmost security and peace of mind. Contact us today!