Identity-based attacks in general and specifically identity theft are some of the latest security risks companies are facing. Although you may only see the names of high-profile businesses targeted by hackers in the news and online, no business is safe, and hackers are not above targeting even the smallest businesses for profit. A study conducted by Symantec revealed that 31% of targeted attacks are directed towards businesses with fewer than 250 employees.
With low risks and a potentially high payoff involved, identity theft has become one of the most popular and profitable crimes.
So how can you protect yourself and your business against identity theft?
Your business may take traditional security measures, like installing antivirus software, deploying encryption technology, raising a firewall, and even regularly running vulnerability tests. However, without multi-factor authentication (MFA) for each application in your network, hackers can still bypass these measures.
So what is MFA?
MFA is the practice of confirming a user’s identity based on two or more “factors” or features that are uniquely theirs.
The three factors generally used to confirm users’ identities in MFA are:
- Knowledge the user has- generally a regular password
- Something the user has- for example, a one-time password sent directly to the user
- A biometric form of identification- this could include face, voice or even a characteristic the user has, such as the force of their keystrokes.
Using more than one factor to confirm a user’s identity adds an extra security measure against identity theft.
Why use MFA for each application?
Still not convinced? Here are five reasons you should be using MFA:
- The number of security breaches performed successfully continues to rise, proving that traditional cybersecurity measures are no longer enough to protect against the evolving techniques of threat actors.
- Although traditional measures such as firewalls and vulnerability tests are necessary, they don’t protect against any potential threat that has gotten access to the user’s password or other authenticating information. With two factors, especially a unique one like a password sent directly to the user, or a biometric identifier, the risk of a hacker knowing all the necessary information is significantly minimized, and with a biometric identifier the threat becomes practically non-existent.
- Hacker’s methods are constantly changing, so while users may be aware of the threat of phishing, they remain vulnerable to having their passwords stolen with newer methods such as keylogging, pharming, and whatever comes next. Measures such as biometric identifiers eliminate the threat of password stealing almost entirely, regardless of the methods threat actors choose to use.
- While identity theft can already cause vast amounts of damage, data theft is not the only risk. Hackers will often use the data they gather maliciously to transmit spam, propaganda, or even viruses. Hackers may also go beyond merely stealing data and destroy it entirely or make significant changes to programs and services.
- MFA is a high level of security that is unlikely to disrupt the user’s experience. Users are familiar with the concept of proving their identity to access sensitive information, such as at the bank or when they login to their email address, and using a biometric identifier makes it extremely easy for the user to access what they need to with simply the touch of a button or displaying their face to a camera- no log in process required.
As cyber-attack methods become more sophisticated, cybersecurity should follow the same path. Complicating security measures, however, disrupts users and may lead to disgruntled users struggling to access their accounts or sensitive information. MFA allows users to prove they are who they say they are with the information they have easy access to, while hackers do not. Although implementing an MFA may seem disruptive to your current security infrastructure, ZoneZero changes that, with an Identity-based zero trust solution that offers seamless integration to MFA providers (Synchronic MFA, Push messaging, Biometric, instant messaging, REST API) and secure access control, supporting both non-web protocols and legacy infrastructure.
With ZoneZero organizations can easily integrate multi-factor authentication, continuous identity verification and identity awareness into all application and services, regardless if the user is coming from the same network or a different network.
ZoneZero supports continuous multi-factor authentication, meaning that the user’s identity is continuously evaluated and verified throughout the session, eliminating the risk of identity takeover fraud and identity-based attacks, while still delivering a seamless user experience. A centralized approach means that no client-side integration or proxies is necessary, and integration is entirely vendor agnostic.
About Version 2 Limited
Version 2 Limited is one of the most dynamic IT companies in Asia. The company develops and distributes IT products for Internet and IP-based networks, including communication systems, Internet software, security, network, and media products. Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 Limited offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.
About Safe-T® Group Ltd.
Safe-T Group Ltd. (Nasdaq, TASE: SFET) is a provider of Zero Trust Access solutions which mitigate attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity. Safe-T’s cloud and on-premises solutions ensure that an organization’s access use cases, whether into the organization or from the organization out to the internet, are secured according to the “validate first, access later” philosophy of Zero Trust. This means that no one is trusted by default from inside or outside the network, and verification is required from everyone trying to gain access to resources on the network or in the cloud.
Safe-T’s wide range of access solutions reduce organizations’ attack surface and improve their ability to defend against modern cyberthreats. As an additional layer of security, our integrated business-grade global proxy solution cloud service enables smooth and efficient traffic flow, interruption-free service, unlimited concurrent connections, instant scaling and simple integration with our services.
With Safe-T’s patented reverse-access technology and proprietary routing technology, organizations of all size and type can secure their data, services and networks against internal and external threats.