The Importance of Multi-Factor Authentication (MFA)

11th October 2024

Multi-Factor Authentication (MFA) is like locking your front door or car – you’d be mad not to do it!

MFA is a (simple) security measure that requires users to present two or more forms of authentication to access an account or system. In an era where cyber threats are becoming increasingly sophisticated, relying on a single layer of protection, such as a password, is often insufficient. MFA strengthens security by adding additional barriers, making it more difficult for malicious actors to gain unauthorised access.

MFA typically combines 2 or more different types of authentication factors: something you know (like a password), something you have (such as a smartphone or hardware token), and something you are (biometric identifiers like fingerprints or facial recognition). By requiring more than one of these factors, MFA ensures that even if one layer is compromised, the chances of an attacker breaching the system are significantly reduced.

One common implementation of MFA is two-factor authentication (2FA), which often involves receiving a one-time code on your phone after entering your password. More advanced forms might integrate biometric scans or security keys for even stronger protection. The system is particularly effective because it directly addresses one of the weakest links in security: human error.

In a study, Microsoft found that 99.9% of compromised accounts didn't have MFA, suggesting that MFA can prevent many forms of cyber-crime, however, although adoption is growing steadily, research has found a disappointing level of uptake:

• Individuals – 2%

• Small businesses (<25 employees) – 27%

• Small/Med (26-100 employees) – 34%

• Large (10,000+ employees) – 87%

These stats are so generalised that they can do no more than act as a general indicator. They do not show, for instance, how usage is very much higher in the tech and finance industries, meaning that the stats for other industries must be very much lower. Also, the data only shows the businesses that have adopted MFA for some of their activities, possibly leaving many of their other activities vulnerable.

So why the slow uptake despite the indisputable benefits? It can only be assumed that this is due to a lack of awareness and understanding of technology generally, of MFA specifically, of the benefits it delivers, and of how vulnerable a business (and you) are without it.

A final word of warning - MFA has it's limitations. A poor set up; device theft; MFA fatigue (where an attacker repeatedly sends authentication requests until a victim eventually approves a request out of frustration or confusion), are just some of the ways in which a security breach can still occur.

Unfortunately, for businesses, expert cyber security services are now an essential form of protection/insurance.

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