JUST IN: Microsoft, according to its latest cybersecurity report, claims that multi-factor authentication blocks 99.9% of automated cyberattack attempts on Microsoft platforms, websites, and other online services.
According to Senior Product Marketing Manager for Microsoft Security Melanie Maynes, there have been over 300 million fraudulent sign-in attempts to Microsoft’s cloud services daily. “It’s worth noting that cyberattacks aren’t slowing down and there have been many successful attempts without the use of advanced technology,” says Maynes.
What is multi-factor authentication?
Multi-factor authentication is an authentication method of putting layers upon layers of security to an account. You, as a user, would have to provide two or more pieces of evidence to ensure that it’s really you that’s logging in - not just some random automated cyberattack. SearchSecurity defines multi-factor authentication as a method that combines two or more credentials: what the user knows (your password) and what the user has (security token) and what the user is (biometric verification).
So passwords just aren’t enough anymore?
Here at ETech 7, we believe that your password is your first line of defense against hacking attempts. However, it shouldn’t stop there.
Alex Weinert, Group Program Manager for Identity Security and Protection at Microsoft, claims that password complexity (or lack thereof) does not matter anymore. “Every week I have at least one conversation with a security decision maker explaining why a lot of the hyperbole about passwords – “never use a password that has ever been seen in a breach”, “use really long passwords”, “passphrases-will-save-us”, and so on – is inconsistent with our research and with the reality our team sees as we defend against 100s of millions of password-based attacks every day. Focusing on password rules, rather than things that can really help – like multi-factor authentication (MFA), or great threat detection – is just a distraction,” says Weinert.
I own a business… Wouldn’t that get confusing since I would have to place MFA on different types of accounts?
Yes - it can get confusing. Start with choosing a strong password and then provide layers upon layers of security to make it more secure. Chances are your business deals with sensitive information. May it be contact details of your business partners, a database of your clients and their sensitive information - it is important to note that information security has a lot of different facets that may be able to cover all of your business functions.
Having a holistic approach to securing your infrastructure, your business processes, and your assets should be every single business’ priority - especially nowadays when everything could be wiped out and be taken from your hands in a snap!
The bottom line is that having cybersecurity measures in place means safety for your business. In today’s modern world where every business decision is made based on acquired data, it only makes sense to protect it - right?
Don’t want the hassle - just peace of mind?
Managed IT Services is the way to go!
Managed IT service providers exist to help your business cover your IT needs which, in turn, allow businesses to lower costs and become more effective in its day-to-day operations. These services may vary from server management, customer support, server backup, to - you guessed it - cyber security.
“Managed IT service providers oversee large data centers and put multiple layers of protection in place,” says Isanov. “However, users may still be breached by hackers. It is of utmost importance to understand that as technology improves, the type of attacks become more intricate as well. All hope is not lost though - as long as each security layer is kept up to date, we would be able to see attacks from a mile away.”
Still unconvinced? Or do you want to know more about how you could better protect your business? ETech 7 offers a free network check for your business!