The New Cyber World Order
Multi-factor Authentication
2015 was undoubtedly the year with the highest number of cyber-attacks against organisations and businesses worldwide until now. As the value of customer data is increasing over time, it is essential that companies that have sensitive data implement more sophisticated protection methods against these attacks.
Customer data is at risk also on social media platforms, which have basically become a part of everyday existence. Although only at their early stages, social media attacks are prone to become very common in terms of cyber-attacks, having a huge impact.
Many businesses are becoming aware of the cyber threats out there and have started adopting new approaches to deal with them. The old concept that threats can be stopped at the perimeter is no longer applicable. Companies need to power-up their authentication methods and make sure the users benefit from the safest authentication possible.
What is authentication?
Authentication is the process through which a user’s identity is verified before his request to access a network, computer or Internet is granted. Passwords used to be the safest way in which authentication was performed, but the alarming number of recent cyber-attacks have shown us that they are no longer the most effective way to protect systems. Single-factor authentication is mainly based on passwords which are both hard to remember and easy to crack. Here is where Multi-factor authentication comes in handy.
Multi-factor Authentication
Cyber-attacks have become almost a normal thing since they are present more and more in the news, an example being the attack against HSBC that took place in January.
The United States have acknowledged the importance of an extra layer of security through multi-factor authentication as president Barrack Obama stated, and has already announced a new Cybersecurity National Action Plan backed-up by a $3 billion budget.
The great advantage that multi-factor authentication brings is that hackers have to get past not only one, but more authentication devices, which makes it more difficult. Multi-factor authentication uses a combination of independent credentials that add to its effectiveness:
- What your users know (passwords)
- What your users are (biometric verification)
- What your users have (security tokens)
UNLOQ started out of the desire to create a sophisticated yet affordable multi- factor authentication solution that is both efficient and easy to integrate. It provides protection in 3 areas: User authentication, Transaction authorisation and Data at rest.
It’s important to note that Single-factor authentication systems are history, and that the new cyber-protection solution is Multi-factor authentication.
