As the digital world evolves, the threats it faces also evolve. Despite its seemingly innocuous name, phishing is considered to be one of the most dangerous cybersecurity threats facing businesses today. The sophistication of phishing attacks (which entail various fraudulent attempts to obtain user information, credit card numbers and passwords) is continuously on the rise.
Many people feel that adopting complicated and difficult-to-guess passwords will help avoid phishing attacks and preserve their data and network security. That is not always the case because merely generating complicated passwords is inadequate to prevent data from being phished. As a result, multi-factor authentication (MFA) is increasingly being relied upon to strengthen security.
However, despite the deployment of MFA to strengthen their operations, companies continue to report increased phishing attacks. For this reason, implementing phishing-resistant MFA in your business and IT solutions is a good remedy for dealing with MFA phishing and other vulnerability issues. Phishing-resistant MFA adds another layer of security by making it more difficult for attackers to impersonate a user and access sensitive data.
According to a study, the use of MFA can prevent 90% of cyberattacks on your accounts.
What Is MFA That is Phishing Resistant?
Phishing-resistant MFA refers to the use of a security key. This is usually a FIDO key or something similar that physically authenticates a user. The user must insert it into a computer or mobile device to log into their accounts rather than using a code sent to them via email or SMS.
SMS/email codes can and are being phished as hackers try to get past this successful form of password and account security.
Reasons to Strive for Phishing-Resistant MFA for Better Security
There are numerous reasons why businesses of all sizes should strive for phishing-resistant MFA. It improves security not only with external organizations but also with any other third party (both active and passive). It also provides a mechanism for organizations to achieve their security objectives by more precisely controlling access to files, internal networks and other system resources. It also eliminates the risks of using a password or other shared secrets and provides the highest level of online security. Here are some reasons to start using phishing-resistant MFA for better security.
1. Phishing-Resistant MFA Protects Your Revenue
If your company is the target of a phishing attack, the consequences can be severe. Successful phishing attacks can lead to financial losses, data breaches and reputation damage.
Phishing-resistant MFA safeguards your organization’s revenue by making it less likely that you will be the victim of a successful phishing attack. The majority of phishers target inexperienced users. Every incremental improvement in your organization’s operations moves it further away from being an “ideal target.”
2. Phishing-Resistant MFA Improves Security Across Devices and Accounts
Attackers are not only targeting businesses. They are also targeting individuals. Businesses can protect their employees’ accounts from being hacked by implementing Phishing-Resistant MFA. This form of MFA can also be used to protect a variety of IoT devices. With the Phishing-Resistant MFA, security is increasingly improved across all devices and accounts which presents as a united front.
3. Phishing-Resistant MFA is Scalable to Accommodate User Needs
Flexible implementation options make this form of MFA a good fit for businesses of all sizes. It can be activated for every user ranging from staff to clients to business associates. Using Multi-Factor Authentication (MFA) in conjunction with single sign-on simplifies the login process, enhances the user experience and decreases the frequency of support requests for forgotten passwords.
4. Phishing-Resistant MFA is Adaptable to a Variety of Use Cases
In helping to assess security risks, adaptive Phishing-Resistant MFA uses behavioral and contextual data such as IP address, geolocation and previous time that authentication was conducted. If the IP address is suspicious (coming from a public place like a coffee shop or an anonymous network) or if any other warning signs are triggered, MFA can be added as required to gain a higher level of assurance about the identity of a user.
5. Support with Single Sign-On (SSO)
This Multi-Factor Authentication can be integrated with single sign-on and embedded in applications. When logging in, users no longer need to create multiple unique passwords or take the risky step of reusing the same password for different applications. Phishing-Resistant MFA, in conjunction with SSO, reduces friction while verifying the user’s identity which saves time and increases productivity.
6. Improves Security
By requiring users to provide multiple credentials before accessing accounts, hackers can be prevented from entering your network using stolen passwords, devices or other pieces of information. Phishing-Resistant MFA can be regarded as the most effective security control to set up for protecting on-premises and public cloud data.
Implement Phishing-Resistant MFA for Better Security
Sound Computers can assist your company in developing the desired security strategy and multi-factor authentication to counter different forms of phishing attempts.
Get in touch with us today.