When it comes to cybersecurity in the workplace, complexity matters. The harder it is and the longer it takes for an attacker to succeed, the less likely they'll get what they want and the more likely they'll give up.
But while complexity can slow down or stop an attacker, you don't want your cybersecurity to get in the way of daily productivity. So for SMBs looking to strike the right balance between ease of access to accounts and protection from data breaches, we can't overstate the importance of MFA. Because MFA adds significant complexity while still allowing employees quick access, it's a technology that SMBs would benefit from having in their cybersecurity toolbox.
What is MFA?
MFA, or multi-factor authentication, is a security technology that better protects logins from unauthorized access. In other words, it keeps bad people out while letting in the right people.
Authentication is the process of proving that you are who you say you are so that you can access something. A factor is a piece of data - something you have, something you know, something you are - that helps prove your identity. A simple password, for example, is a "factor" (something you know) that lets you log in to something. You're proving that you should be given access to the account by providing the correct password.
Multi-factor authentication takes that whole process a step further by requiring two or more factors to prove your identity. For example, in addition to a password, you might have to provide a fingerprint scan (something you are) or a one-time code generated on an app on your phone (something you have). Additional data, like your IP address or device ID, may be analyzed in the background to verify your identity further. The service only grants access if you provide the right factors when requested.
Why MFA?
Though it's not a cure-all, MFA is a comparatively easy technology to install and use, with significant security benefits.
Cybersecurity experts have long documented the many weaknesses of passwords. In addition, people are notoriously bad at creating and managing passwords securely. Therefore, relying solely on passwords to protect from hackers is unwise.
The fact that passwords (still) play a significant role in data breaches further underscores the importance of MFA. Unlike a password, the additional factors required with MFA are exponentially more difficult for hackers to copy, steal, or otherwise manipulate. MFA certainly isn't
immune to sophisticated attacks, but the more security layers you wrap around your business, the better protected you'll be. MFA can protect against
ransomware attacks,
phishing,
man-in-the-middle attacks, credential stuffing, and
brute force attacks.
SMBs can also
use MFA to replace or eliminate passwords. When going passwordless with MFA, organizations can often leverage what a user already has and is familiar with - like their smartphone - to streamline access in the workplace. As passwordless technology becomes more widespread, SMBs can leverage MFA to reduce the employee password burden while improving organizational security.
Peace of mind with MFA
MFA is a critical layer in an SMB cybersecurity strategy. It reduces or eliminates the risk of many common cyber threats and minimizes the threat posed by poor password hygiene. There's a reason cyber insurance often requires the use of MFA or incentivizes the use of MFA with reduced premiums. MFA is effective, and it should be standard for businesses of all sizes across all sectors.
Given that SMBs are often doing more with less - with more limited resources, smaller budgets, and competing priorities - MFA is a smart choice for increasing security. And while MFA introduces complexity, that complexity is often hidden from employees. In fact, the emergence of passwordless technologies is revolutionizing how employees securely access data in the workplace.
It's not a matter of if a hacker will strike - it's a matter of when. With MFA in place, you can feel more confident in preventing a
devastating data breach.
This Cybersecurity Awareness Month,
learn how LastPass’ adaptive multi-factor authentication can protect your business.
