Eight Benefits of Multi-Factor Authentication (MFA)

Using multi-factor authentication (MFA) to bolster password security with another form of authentication is proven to keep hackers out of your systems. Because attackers must overcome more than just a stolen password, MFA significantly reduces the risk of breaches. According to Microsoft, MFA can “prevent 99.9 percent of attacks on your accounts.”

At a basic level, authentication requires proof that users are who they say they are. Multi-factor authentication solutions take it a step further by requiring users to provide proof from two or more authentication factors (categories) before access is granted. If one factor is compromised, MFA ensures that the attacker is unable to gain access without the other factors.  

Authentication Factors:

• Something you know (knowledge)

  
  

  The most common knowledge factor is a password. Other knowledge factors include PINs, passphrases and security questions (e.g., What was the name of your high school?). These have become less secure as users fall victim to phishing attacks, hackers steal or buy passwords on the dark web, and people openly share personal information.
  

• Something you have (possession)

  
  

  Possession factors include smartphones, hard tokens, soft tokens, key fobs and smartcards. To verify a user’s identity, they may receive a one-time passcode (OTP) sent to a smartphone, receive a unique code generated by a physical token, or need to insert a smartcard into a device. 

• Something you are (inheritance)

  
  

  Inheritance factors, also referred to as biometrics, are the unique physical traits we all possess. Biometrics are verified through fingerprint scans, voice or facial recognition, retinal scans and other methods such as your heartbeat.

   

A single compromised password allowed hackers to disrupt the Colonial Pipeline because other forms of authentication were not required to access their VPN. Ransomware and other cyberattacks have become a top priority on the U.S. cybersecurity agenda. While cybersecurity training may be provided by organizations, employees still fall for phishing tactics or share passwords out of convenience. Customers can also fall victim to scams or have their data stolen. MFA prevents bad actors from using compromised credentials to enter your systems because they cannot provide the second and/or third authentication factor.

• Increases Security

  
  

  By requiring users to provide multiple credentials prior to accessing accounts, hackers are prevented from using stolen passwords, devices, or other individual pieces of information to enter your network.
  

• Reduces Risk from Compromised Passwords

  
  

  While passwords are the most common form of authentication, they are the least secure. People may reuse or share passwords, which can also be stolen or guessed, leading to exposure for account holders and system administrators.
  

• Customizable Security Solution

  
  

  Each authentication factor offers multiple options, providing enterprises with the ability to customize the user experience to meet their needs. For example, users might have access to fingerprint scanners on their smartphones, but not retinal or voice recognition scanners. MFA can be adapted from simple two-factor to more complex multi-factor setups in order to meet the need for different levels of security.

• Compatible with Single Sign-On (SSO)

  
  

  MFA can be embedded into applications and integrated with single sign-on. Users no longer have to create multiple unique passwords or make the risky choice of reusing the same password for different applications when logging in. Together with SSO, MFA reduces friction while verifying the user’s identity, which saves time and improves productivity.

• Scalable for Changing User Bases

  
  Multi-factor authentication is an ideal security solution. MFA can be set up for all users, including employees, customers and partners. Single sign-on combined with MFA eliminates the need for multiple passwords, streamlines the login process, improves the user experience, and reduces the number of calls to IT departments for password assistance.

• Regulatory Compliance

  
  There may be industry or geographical regulations requiring MFA. For example, Payment Card Industry Data Security Standard (PCI-DSS) requires that MFA be implemented in some situations to prevent unauthorized users from accessing payment processing systems. It also helps meet strong customer authentication requirements dictated by Payments Service Directive 2 (PSD2) in the EU. In addition, MFA helps healthcare providers comply with the Health Insurance Portability and Accountability Act (HIPAA).

   

• Enables Enterprise Mobility

  
  The pandemic made remote work options necessary for many organizations and sped up the digital transformation. Allowing employees to use mobile devices to easily and securely access the resources they need increases productivity. Using MFA to log into business applications, especially when integrated with SSO, provides the flexibility and 24/7 access employees need, while keeping networks and data protected.

   

• Adaptable for Different Use Cases

  
  Some situations call for greater security, like conducting high-value transactions and accessing sensitive data from unknown networks and devices. Adaptive MFA uses contextual and behavioral data such as geolocation, IP address and time since last authentication to assess risk. If the IP address is considered risky (e.g., coffee shop or anonymous network) or other red flags are noted, authentication factors can be added as needed to gain a higher level of assurance about a user’s identity.

MFA protects against phishing, social engineering and password brute-force attacks and prevents logins from attackers exploiting weak or stolen credentials. A 2020 study by the Digital Shadows Photon Research Team found 15 billion stolen credentials available on the dark web, including username and password pairs for online banking, social media accounts and music streaming services. Simply put, if a username-password combination is all that is required to access your systems, that is negligent as you are allowing cybercriminals to steal data and/or install ransomware.

Adding multi-factor authentication is the #1 action most enterprises can do to prevent cybersecurity incidents from occurring. Even in industries that do not currently require MFA for regulatory compliance, governments are taking cybersecurity more seriously as agencies and infrastructure are increasingly being targeted. Investing in an MFA solution is an effective way to secure your data from unauthorized access and protect your resources.