Most users of Google’s services are familiar with the fact that the technology giant asks for a user’s recovery phone number as an additional layer of protection for authentication. Although have you really wondered if this additional layer is truly effective?
Google did a study and got definite answers — partnering with researchers from New York University and the University of California, San Diego, Google studied how effective their security measures were. The results showed that by only adding a recovery phone number to a Google account blocked up to 100% of automated bots, 99% of bulk phishing and 66% of targeted attacks.
The difference an additional layer of protection makes
The aforementioned is a perfect example of how adding an additional layer of authentication, can be scaled up to bolster enterprise cybersecurity.
Commonly known as Multifactor Authentication, the concept per se is simple — instead of providing a single instance of authentication for system access (i.e. a password), a user is required to submit two or more instances. These( instances) revolve around the following principles –
- Unique information specific to the user
- Exclusive device possessed solely by the user
For a more real-world example of Multifactor Authentication, consider withdrawing money through an ATM. A user can only withdraw money if they possess two items, a bank card and a PIN. Another example is logging in to a financial website – users must authenticate themselves using both their unique password along with their One Time Pin (OTP) which is generated at the time of log-in.
Multifactor Authentication provides an additional layer of security to user data making it very difficult for cybercriminals to penetrate an enterprise network. The Payment Card Industry Security Council’s Data Security Standards (PCI DSS) mandates Multifactor Authentication for certain types of card transactions while all electronic payments in the European Economic Zone require strong customer authentication as mandated by a directive from the European Union.
While it has been established that the biggest advantage of Multifactor Authentication is enhanced security, there are other advantages as well such as –
Thanks to Multifactor Authentication, the damage of a lost phone or a successful impersonation by an attacker can be mitigated. Multifactor Authentication means an attacker will be unable to access the data they want, giving IT teams more time to remedy the issue.
Better Productivity & Security
Multifactor Authentication enables enterprises to allow employees to be more flexible regarding using their own devices for work-related purposes. This can drive productivity and help overall efficiency.
Multifactor Authentication can detect immediately if there has been a security breach (i.e. multiple incorrect OTPs being inputted) and can deliver immediate notifications to network administrators for rectification of the problem.
Prevent Data Breaches
Data breaches can prove costly; according to a recent study, the average total cost was $3.92 million. Multifactor Authentication can help prevent data breaches leading to substantial cost savings for the enterprise.
Recognizing its importance, Seqrite offers Multifactor Authentication across its products and services. The Endpoint Security solution offered by Seqrite evaluates and mitigates risks associated with any fraudulent transactions.