MFA - what is it and why do I need it?

19 Oct 2023 - 11:55am

Online security is like the wild west – you really have to take precautions to keep yourself, your business and your client data safe. So one of the best ways to keep your information, well, yours, is to ensure you have Multi-factor authentication (MFA) in place on your accounts. The Privacy Commission recently announced that if your business has a data breach and you don’t have MFA in place that you should expect to be prosecuted under the Privacy Act, so it makes good business sense to ensure you are protected.

What is MFA?

MFA requires more than just a password to access vital information, in order to keep that information protected. In addition to a password this could be a code from an authenticator app or your fingerprint to confirm that it is really you logging in, and not just someone impersonating you. The types of security factors include:

Something you know – such as a password or security question

Something you have – like a phone to receive a text or an authenticator app

Something you are – eg a fingerprint or face ID

The more factors involved, the more difficult it is for someone to gain access that shouldn’t be.

Why do I need it?

Unfortunately, cyber attacks are increasing exponentially with the rise of AI and increasingly powerful computers. Luckily though, MFA is 99.9% effective in stopping automated attacks – meaning potential attackers are likely to move on to an easier target.

MFA isn’t the be-all and end-all in cyber security, but it is a fantastic first step in ensuring the safety and security of your business online. We will be enforcing MFA on all our clients over the coming weeks as a standard security measure. A layered approach to security should always be implemented.

If you would like to discuss more about how to stay safe online get in touch with us today.