Can Multi-Factor Authentication Safeguard Your Business?

Source Article: Can Multi-Factor Authentication keep your Firm Safe?

The philosophy of the IT industry about password security has been that multifactor authentication (MFA) safeguards against all assaults. In actuality, however, MFA can only protect a user who has activated it if they have also taken the necessary precautions to safeguard their password.

Microsoft said in 2019 that 300 million cyberattacks occur daily in its cloud environment. Many people and organizations, including Anne Neuberger, the Deputy National Security Advisor for Cyber and Emerging Technologies of the United States, agree that MFA can prevent 99.9% of all intrusions.

During a September press conference at the White House, Neuberger said, "Many IT CEOs have cited multifactor authentication as preventing 80 to 90 percent of intrusions." Consequently, the necessary MFA technology adoption affected every organization and client on the planet. With the new passwordless future and FIDO Alliance passwords, MFA has progressed.

MFA, or multifactor authentication, has existed for quite some time. Despite the frequency of data breaches and the hype around them, fraudsters continue to devise countermeasures. These barely matured techniques call into question the whole purpose of MFA.

How can criminals circumvent MFA Systems?

According to the Expel Quarterly Threat Report Q3-2022, identification is now a new attack target. The data indicate that identity attacks accounted for almost 60 percent of all security failures.

Due to IP addresses and MFA fatigue, criminals utilize the United States to defeat MFA. In MFA fatigue, attackers undermine a target's security by repeatedly blasting them with MFA push warnings. When users do not get a response after repeatedly inputting their credentials, they are duped into believing something is wrong with their system.

Cloud-based identity providers such as Okta, Ping Identity, and OneLogin provide a more smooth single sign-on (SSO) experience for employees, therefore businesses depend significantly on them. However, the Expel research indicates that vulnerability rises when a single credential is sufficient for access rather than several credentials.

Combining Biometrics and MFA for Security Improvement

In recent years, many security professionals have come to see MFA as a subpar authentication method. One approach that is gaining interest is the use of machine learning models that predict an individual's normal behavior. This might be a person's location, how they type, other actions, or anything else. However, some experts continue to advise businesses to "transition from MFA push notifications to PINs." (Done) Others continue to support biometric technology such as fingerprint and iris scanners.

In the event that your login and password are hacked, you will need a backup plan. Even the most protected websites may be brought down by modern brute-force assaults, which can guess hundreds of thousands of passwords in seconds. After being deceived by hackers, users voluntarily give out their most sensitive credentials. There is always a danger that someone may get access to your data by stealing your phone, laptop, or USB key.

The trade-off for using biometric characteristics as a form of security seems reasonable. They cannot be stolen, are typically supported, and are always on your person. Using liveness detection or periodic checks for a certain face in front of the device (e.g., during a picture gallery) may prevent account compromises by fraudsters attempting to get access in this manner. In addition, the digital footprint it leaves makes it simpler for forensic moderators and incident investigators to determine who tried to hijack your account and what credentials they used.

Biometrics are not perfect, databases may include sensitive personal information, and their management is governed by data protection legislation. Companies must also develop AI and machine learning algorithms for biometrics production.

As biometrics-as-a-service gains popularity and cloud service providers include biometric capabilities, businesses of all sizes will soon be able to use this technology. Consequently, biometrics is increasingly becoming the only complete MFA security solution.

The cyber threat environment is always evolving, and this is a great method to learn about it. Every day, terrible performers from throughout the globe teach us difficult lessons. To advance, MFA suppliers must be in sync with consumer demands, learn rapidly, and adapt. Today, more security precautions are necessary. Combining biometrics with MFA might safeguard your firm from identity thieves and other criminals who exploit your data to steal your identity or engage in other illegal activities.