03 Mar Protect your accounts with multi-factor authentication
In their most recent cyber security campaign, the Australian Cyber Security Centre (ACSC) focused on one of the most effective solutions to protect against cybercrime. Criminals only need one attempt to succeed in accessing your most important accounts. Protect your valuable information by enabling multi-factor authentication where possible. The multiple layers make it much harder for criminals to attack and gain unauthorised access.
What is multi-factor authentication
Multi-factor authentication (MFA) is one of the most effective ways to protect against unauthorised access to your valuable information and accounts. MFA is a security measure that requires two or more proofs of identity to grant you access.
How does it work?
MFA typically requires a combination of something the user knows (pin, secret question), something you have (card, token) or something you are (finger print or other biometric).
Businesses as well as individuals should implement MFA wherever possible. Some MFA options include, but are not limited to:
- Physical token
- Random pin
- Biometrics / fingerprint
- Authenticator app
Why use MFA?
MFA offers significantly more powerful security and protection against criminals. They might manage to steal one proof of identity such as your PIN, but they still need to obtain and use the other proofs of identity to access your account.
For more information on setting up MFA, watch the below video from ACSC or visit www.cyber.gov.au/mfa.
Stay Smart – Act Now
A cyber insurance policy should be part of every successful business’s risk management framework. Cyber insurance is not the first line of defence; it is designed to protect a business when it’s IT security, policies and procedures fail to stop an attack.
While hacking incidents are the most recognisable and expensive cause of data loss, they are not the most common. It’s a startling fact – simple human error accounts for almost one in three incidents. No matter the sophistication of the IT security, there is little that can be done to eliminate the risk of human error. A common, accidental breach is a real business risk worth considering today.
Don’t wait until it’s too late – click here to obtain a Cyber Insurance quote online in a matter of minutes.
If you have any further questions regarding Cyber Insurance and how it can protect your business, contact Vikram Choudhry on 1300 880 494.
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