Multi Factor Authentication: Why Is It Necessary

In the growing world of technological advancements and rising cyber threats, various sorts of delicate information are getting stolen due to weak cyber security. Data protected by only password are the ones most vulnerable in such cases because of the single layer of protection against different attacks.

This becomes even more problematic when that same password is shared among multiple accounts of the same user. This gives the attacker access to almost all of the user’s accounts and details. A study shows 61% of people reuse the same password across different platforms, making them prone to different data thefts.

This is why different layers of security must be added to protect your data

What is Multi-Factor Authentication?

Multi-factor authentication (also called MFA) is simply an application asking you to provide a different type of proof of your identity to double-check that it’s you who are trying to access that service.

This is basically adding new layers of security for your data and keeping you safe from attackers to some extent. Now even if your password is compromised, it would not be enough for the intruder to access your data.

There are three basic types of methods for MFA which are based on different factors.

1. The first one is based on knowledge or simply your memory. This is the most common type that includes basic password and pin code. 
2. The second one is based on something you own or something you have. This includes your mail address or your phone number. 
3. Third one is something you are or simply you. This includes your fingerprint, facial recognition and voice recognition.

As you can tell, the degree of security increases with each layer and the data gets more secure than it was with just a password.

An example of why MFA is important is a data breach case of 2013 centering one of the retail giants of USA, i.e. Target. In this case attackers used stolen credentials to gain access to customers' databases and also install malware leading to personal information of customers being stolen. This put almost 41 million customer payment card accounts at risk. Target paid more than $18 million in multi-state settlement which is the largest amount ever paid for a data breach.

Conclusion

If Target had adopted MFA(Multi Factor Authentication) for its employees, the data breach might have been prevented or caused lesser damage due to the extra layer of security.

Now you must have an idea of why MFA is necessary these days and how serious of a matter this is. Just a few minutes of your time can keep you and your data safe from several different attackers.