Business in the Internet age is ripe with opportunity.
Not only does a highly connected society provide a client base like never before, but the efficiencies gained by transitioning business data to networks is unmeasurable.
Networked IT infrastructure exists with vulnerability, but in the past, patches were always okay.
Fast-forward to today.
From Greg Shannon, assistant director for cybersecurity strategy at the White House Office of Science and Technology Policy.
“…the incentives to wage malicious cyber activities keep skyrocketing. Today what’s available online, and its value, keep increasing exponentially—and so do the incentives to exploit systems and steal data. What we are seeing are the results; absolutely, the threats and the attacks are bigger than they’ve ever been.”
(Source: MIT Technology Review, March/April 2016 Business Report, Cyber Survival, “Why we’re so vulnerable.”)
Loopholes in 2-factor authentication
Here’s a visual by Bloomberg of the worst corporate hacks (updated in March of 2015). The problems with 2-factor authentication (2FA) are the opportunities to hack the 2 factors (either by scamming a password, intercepting the One Time Passcode, or with malware) and thus exposing reams of corporate data for exploitation. Read more about bypassing 2FA from Etay Maor with IBM Security.
Phishing attacks, account recovery schemes, malware, and credit card reader skimming are all ways that hackers can access corporate systems with either hacked 2FA credentials or via bypassing 2FA altogether. The heart of the matter is that businesses need better ways to protect login credentials beyond the typical username/password and OTP combo.
Why 3-factor is best for business
What is your business data worth?
While you may have a business valuation, your data is almost priceless. The value of customer information and therefore, public perception and trust, should be seriously considered when planning to implement authentication solutions.
The advantage to implementing 3-factor authentication (3FA) is that you establish a positive identity of the employee who possesses the other two factors (password and OTP). This is normally accomplished with biometrics but that method has its own challenges with registration, accuracy and forgery.
New identity solutions for the 3rd factor are available today that tie to your identity, cannot be compromised, and can be re-credentialed if necessary. One of these is from Cyber Solutions Technologies which uses a unique, cross platform, cost effective, software-based method for secure authentication.
For further mobile cybersecurity
Focusing on enterprise mobile cybersecurity, Cyber Solutions Technologies offers patented cybersecurity software authentication (3-factor) solutions for your business. This software enables employees to protect corporate data and safely carry their own personal files and records on their mobile devices.
This technology is immediately available for cross-platform integration and will help secure a digital footprint when accessing mobile devices in public wi-fi spots, while traveling and on unfamiliar networks.
For more information about Cyber Solutions Technologies, email firstname.lastname@example.org.