This content originally appeared on DEV Community and was authored by Alex Sanders
Cyber attacks are on the rise.
Since the COVID-19 pandemic, there has been a 400% increase in cybersecurity complaints to the FBI.
No company wants to be the next Colonial Pipeline, who were forced to pay a $4.4 million ransom, or the next Cambridge Analytica, who leaked millions of Facebook users’ personal data.
You may think cyber criminals only target big companies where there’s more to steal. However, hackers prey on small- and midsize businesses (SMBs) just as much because they tend to have fewer safeguards in place.
In 2019, one data breach cost an SMB an average of $149,000. That’s more than twice what the average small business owner makes in a year and could easily put a business under.
To avoid security breaches, small businesses need to act now by adopting multiple forms of identity verification for their employees.
One easy way to do this is through a form of multi-factor authentication (MFA) called two-factor authentication (2FA).
What is Two-Factor Authentication (2FA)?
Two-factor authentication (2FA) verifies a user’s identity in two steps for an added layer of security.
The first step demands a username and password. And the second step usually involves getting a time-sensitive six-digit code or one-time password (OTP) on a separate device.
But the second step could also be a security question or even a fingerprint scan. What makes it 2FA is that it requires two separate steps to log in.
Benefits of Two-Factor Authentication (2FA)
2FA offers an additional layer of security. It’s twice as hard for hackers to break through because it requires cracking two separate barriers. Plus, even if someone cracks through one layer of security, 2FA systems immediately alert users of the suspicious activity so you can quickly react by temporarily locking your account and notifying a manager.
The extra level of security could be the difference between your company experiencing a major cyberattack that leads to millions in lost revenue or not.
2FA is also easy to implement. Many hate having to deal with cumbersome security practices, but 2FA makes it easy by allowing you to use your smartphone or even your finger. This saves time and takes a huge burden off internal security teams who must otherwise manage complicated security systems.
And by outsourcing your security to a professional IT management company, you can make 2FA data security a breeze.
Types of Two-Factor Authentication (2FA)
We’ve mentioned a few types of 2FA, but there are actually quite a few secondary verifications that you can combine with a traditional username and password to form 2FA:
- SMS token — A password sent in a text to your phone
- Email token — A password sent to you by email
- App token — A password or push verification sent to you within an installed app on your phone
- Biometric token — A part of your body that identifies you like a fingerprint, eye scan, or voice recognition
- Security question(s) — A personal question that identifies you, like “what is your mother’s maiden name?” or “what is the name of your elementary school?”
How to Set Up Two-Factor Authentication (2FA)
To set up 2FA for your small business, first identify what data you need to protect. This could include emails, databases, reports, financial information, and more. Just remember that the more you protect by 2FA, the safer your business will be.
Next, identify who needs to use 2FA. Any employees who need access to the protected data should be required to use 2FA.
Finally, choose a 2FA type and platform. The type of 2FA will help determine what platform to use, but popular platforms include Authy, LastPass Authenticator, and Microsoft Authenticator. Choose one that is convenient and makes the most sense for your company.
Final Tips
No matter the size of your business, security should be a top priority. Even if it’s just you, you wouldn’t want your bank information hacked, and all your business income jeopardized.
So consider implementing 2FA today. It’s easy to get started and the small investment will pay for itself many times over by preventing future cyberattacks. After all, it’s not a matter of if you will experience a cyberattack but when.
This content originally appeared on DEV Community and was authored by Alex Sanders
Alex Sanders | Sciencx (2021-12-21T11:24:12+00:00) Why Your Small Business Should Adopt Two-Factor Authentication (2FA). Retrieved from https://www.scien.cx/2021/12/21/why-your-small-business-should-adopt-two-factor-authentication-2fa/
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