Tag Archive for: MFA

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Fortifying your business with two-factor authentication and two-step verification

The digital realm is teeming with risks that can compromise business data. Thankfully, a variety of tools and technologies are available for your company to fortify its cybersecurity. Two-factor authentication (2FA) and two-step verification (2SV) are among the most effective methods for bolstering your defenses against attackers.

2FA and 2SV are often used interchangeably, but they are, in fact, two distinct approaches to security. Let’s take a look at the differences between them and explore how they can benefit your business.

Two-factor authentication

2FA is a security measure that requires users to provide two different types of credentials in order to log into their accounts. Typically, the first factor consists of something that the user knows, such as a password. The second factor could be something like a one-time passcode sent via text message or email or a biometric identifier, such as a fingerprint.

With 2FA enabled on your business accounts, cybercriminals will have a harder time gaining access to these. Even if they somehow manage to obtain the first factor (e.g., by guessing your password), they still won’t be able to log in without the second piece of information, which only you can have.

Two-step verification

2SV is similar to 2FA in that it requires two pieces of information to gain access to an account. However, the difference between the two lies in the number of authentication steps involved. As the name suggests, 2SV requires two authentication steps: one where the user provides their first factor (e.g., a password) and another where they provide additional information that proves they are who they say they are.

For example, with 2SV enabled on your business accounts, users may be asked to provide a second form of authentication when they attempt to log in from an unfamiliar device or IP address. This could be in the form of another password, a one-time passcode generated by an authentication app on their phone, or some other type of verification.

Benefits of 2FA and 2SV for businesses

Enabling 2FA and/or 2SV on your business accounts can provide a variety of benefits, including:

  • Improved security – By adding an extra layer of authentication, you can reduce the risk of unauthorized access to your accounts.
  • Enhanced compliance – By using advanced authentication, such as 2FA and 2SV, you can ensure that your business is meeting industry and government standards for data security.
  • Reduced costs – Fewer unauthorized access attempts means fewer chances of fraud and data theft, which can lead to significant cost savings over time.

Which is best for your business?

The decision of whether to use 2FA or 2SV depends on a number of factors, such as the size and complexity of your business, the type of data you are storing, and the level of security you require.

For example, if your business is storing sensitive data, such as customer credit card information, then a multifactor authentication system that includes both 2FA and 2SV may be the most appropriate choice. On the other hand, if you are simply looking to add an extra layer of protection to your email accounts, then a 2FA system may be all that is needed.

Ultimately, the best authentication solution for your business will depend on its individual needs and requirements. It is always a good idea to consult with an experienced security professional to ensure that you are making the right decision.

Our team of experts is here to help you make the best choice for your business. Get in touch with us today to learn more about 2FA and 2SV and how they can improve your security.

If you are looking for an expert to help you find the best solutions for your business talk to GCInfotech about a free technology assessment

Published with consideration from TechAdvisory.org SOURCE

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Cybersecurity jargon made simple

Cybersecurity is a crucial component of managing a successful company and understanding different cybersecurity terms is essential to protecting your company’s sensitive information, data, and assets can be deleted. Here’s a guide to key cybersecurity terms every business owner should know.

Malware

Malware is short for malicious software and encompasses various harmful programs designed to disrupt computer systems, steal data, or gain unauthorized access to a network. Types of malware include viruses, ransomware, Trojans, and spyware. Employing robust antivirus and anti-malware solutions is crucial to detect and mitigate these threats.

Phishing

Phishing is a cyberattack where malicious actors attempt to trick individuals into revealing sensitive information, such as passwords, credit card details, or login credentials. Phishing attacks often come through deceptive emails, spam messages, or websites that appear legitimate. Business owners must educate their employees about the dangers of phishing and promote a culture of vigilance when dealing with suspicious communications.

Firewall

A firewall is a network security solution that acts as a barrier between a company’s internal network and external networks such as the internet. It constantly scans and controls traffic coming in and out of a network using predetermined rules. These security rules help prevent unauthorized access to a system and keep potential cyberthreats at bay.

Encryption

Encryption is a method of converting plain, readable data into an unreadable format called ciphertext. It is used to protect sensitive information and maintain confidentiality during data transmission or storage. Even if the data is intercepted, the information will be unreadable without the correct decryption key.

Multifactor authentication (MFA)

MFA is a security mechanism that enhances the protection of user accounts and sensitive information by requiring users to provide multiple forms of identification or “factors” such as passwords, biometrics, and one-time codes to verify their identity. The goal of MFA is to add an extra layer of security beyond just a username and password.

Patch management

Hackers often exploit vulnerabilities in networks and applications to gain unauthorized access to an organization’s system. Patch management involves regularly updating and applying security patches to software, operating systems, and applications to close these vulnerabilities and protect businesses from potential breaches.

Data breach

A data breach occurs when unauthorized individuals gain access to sensitive information, such as customer data, financial records, or intellectual property. Data breaches can have severe consequences, including financial losses, legal repercussions, and reputational damage. Implementing robust security measures can help minimize the risk of data breaches.

Security awareness training

Security awareness training educates employees about potential cybersecurity threats and best practices to help them recognize and respond to such threats effectively.

Virtual private network (VPN)

A VPN is a software or platform that helps establish a secure and encrypted connection between a user’s device and a remote server. Using a VPN especially when connected to public Wi-Fi networks will ensure privacy and data protection.

Insider threat

An insider threat is a current or former employee, contractor, or business partner who intentionally or accidentally misuses their authorized access to compromise data security.

Security audit

A security audit is a systematic evaluation of an organization’s security policies, practices, and controls to identify potential vulnerabilities and improve overall security.

Cybersecurity is an ongoing process, and staying informed about the latest threats and solutions is essential to keep your business safe in the digital age. Protect your assets, safeguard your customers, and maintain your reputation by talking to our cybersecurity experts today.

If you are looking for an expert to help you find the best solutions for your business talk to GCInfotech about a free technology assessment

Published with consideration from TechAdvisory.org SOURCE

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Beware of Phishing Attacks

Phishing attacks are increasing and getting more sophisticated. Here’s how to avoid them:

Phishing is on the rise, and anyone who uses email, text messaging, and other forms of communication is a potential victim.

These attacks, in which a cybercriminal sends a deceptive message that’s designed to fool a user into providing sensitive information such as credit card numbers or to launch malware on the user’s system, can be extremely effective if done well.

These types of attacks have become increasingly sophisticated — making them more dangerous — and more common. An October 2022 study by messaging security provider SlashNext analyzed billions of link-based URLs, attachments, and natural language messages in email, mobile and browser channels over a six-month period, and found more than 255 million attacks. That’s a 61% increase in the rate of phishing attacks compared with 2021.

The study revealed that cybercriminals are shifting their attacks to mobile and personal communication channels to reach users. It showed a 50% increase in attacks on mobile devices, with scams and credential theft at the top of the list of payloads.

“What we’ve been seeing is an increase in the use of voicemail and text as part of two-pronged phishing and BEC [business email compromise] campaigns,” said Jess Burn, senior analyst at Forrester Research. “The attackers leave a voicemail or send a text about the email they sent, either lending credibility to the sender or increasing the urgency of the request.”

The firm is receiving a lot of inquiries from clients about BEC attacks in general, Burn said. “With geopolitical strife disrupting ransomware gang activity and cryptocurrency — the preferred method of ransom payment — imploding as of late, bad actors are going back to old-fashioned fraud to make money,” he said. “So BEC is on the rise.”

Criminals using phishing attacks based on tax season, shopping deals

One of the iterations of phishing that people need to be aware of is spear-phishing, a more targeted form of phishing that often uses topical lures.

“While it is not a new tactic, the topics and themes might evolve with world or even seasonal events,” said Luke McNamara, principal analyst at cyber security consulting firm Mandiant Consulting. “For example, as we are in the holiday season, we can expect to see more phishing lures related to shopping deals. During regional tax seasons, threat actors might similarly try to exploit users in the process of filing their taxes with phishing emails that contain tax themes in the subject line.”

Phishing themes can also be generic, such as an email that appears to be from a technology vendor about resetting an account, McNamara said. “More prolific criminal campaigns might leverage less specific themes, and conversely more targeted campaigns by threat actors involved in activity like cyber espionage might utilize more specific phishing lures,” he said.

What people should do to ward off phishing attempts

Individuals can take steps to better defend themselves against phishing attacks.

One is to be vigilant when giving out personal information, whether it’s to a person or on a website.

“Phishing is a form of social engineering,” Burn said. “That means that phishers use psychology to convince their victims to take an action they may not normally take. Most people want to be helpful and do what someone in authority tells them to do. Phishers know this, so they prey upon those instincts and ask the victim to help with a problem or do something immediately.”

If an email is unexpected from a specific sender, if it’s asking someone to do something urgently, or if it’s asking for information or financial details not normally provided, take a step back and look closely at the sender, Burn said.

“If the sender looks legitimate but something still seems off, don’t open any attachments and mouse or hover over any hyperlinks in the body of the email and look at the URL the link points to,” Burn said. “If it doesn’t seem like a legitimate destination, do not click on it.”

If a suspicious-looking message comes in from a known source, reach out to the person or company via a separate channel and inquire as to whether they sent the message, Burn said. “You’ll save yourself a lot of trouble and you’ll alert the person or company to the phishing scam if the email did not originate from them,” he said.

It’s a good idea to stay up on the latest phishing techniques. “Cyber criminals constantly evolve their methods, so individuals need to be on alert,” said Emily Mossburg, global cyber leader at Deloitte. “Phishers prey on human error.”

Another good practice is to use anti-phishing software and other cyber security tools as protection against potential attacks and to keep personal and work data safe. This includes automated behavior analytics tools to detect and mitigate potential risk indicators. “The use of these tools among employees has increased significantly,” Mossburg said.

Another technology, multi-factor authentication, “can provide one of the best layers of security to secure your emails,” McNamara said. “It provides another layer of defense should a threat actor successfully compromise your credentials.”

If you are looking for an expert to help you find the best solutions for your business talk to GCInfotech about a free technology assessment

Published with consideration from CNBC.com SOURCE

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Linking Strong Cybersecurity to the Growth and Survival of SMBs

When it comes to protecting small businesses from cyberattacks, there is a constant balance between managing risk and applying limited resources between security, operational budgets, and convenience. Small businesses face critical resource decisions every day. Can my business afford to deploy optimal, strong cybersecurity solutions? And will my cybersecurity policies be a burden for my employees, trading partners, and customers?

Small business owners face significant challenges, and their most important daily responsibility is ensuring their businesses grow and thrive. As an industry, we have not done enough to connect the benefits of strong cybersecurity practices and policies to business expansion, resiliency, and long-term survival.

There is no area of cybersecurity more indicative of the challenges we face in threading the needle between security and business-friendly policies than usernames and passwords. We still overwhelmingly rely on an insecure means of account and network access that has proven inefficient and insecure for more than 30 years.

Multi-factor authentication (MFA)

We know there are more secure methods that can be deployed. Multi-factor authentication (MFA) bolsters security by requiring users to present more than one piece of evidence (credential) whenever the user logs in to a business account (ex. company email, payroll, human resources, etc.). MFA usually falls into three categories: something the user knows (a 15-character password), something the user has (fingerprint), or something the user receives (a code sent to the user’s phone or email account).

MFA works, but companies remain extremely reticent to deploy. The Global Small Business Multi-Factor Authentication (MFA) Study released by the Cyber Readiness Institute (CRI) found that only 46% of small business owners claim to have implemented MFA methods recommended by leading security experts, with just 13% requiring its use by employees for most account or application access.

Most companies implementing some form of MFA have not made it a requirement for all.

Only 39% of those who offer MFA have a process for prioritizing critical hardware, software, and data, with 49% merely “encouraging the use of MFA when it is available.”

According to Microsoft, 99.9% of account compromise attacks can be blocked simply using MFA. Yet, 47% of small business owners surveyed said they either didn’t understand MFA or didn’t see its value. In addition, nearly 60% have not discussed MFA with their employees.

Implementation of MFAs

Implementing MFA does not require hardware changes to company computers, mobile devices, or printers. Instead, there are numerous free and low-cost software-based tools users can download to their company and personal devices. For example, email providers usually offer (and encourage) MFA. Therefore, it can be as easy as clicking an option in email settings to turn on MFA.

There are several easy steps companies can take to implement MFA. First, organizations should update their policies and procedures with specific expectations. For example, all employees should implement MFA on their company email accounts. Next, hold workforce information sessions to communicate MFA policies and expectations. Employees need to know that it is easy to activate MFA on their accounts. Finally, designate someone in the organization who accepts the responsibility for cyber readiness to help employees troubleshoot as they begin using MFA.

Final Thoughts

At CRI, we fully believe strong cybersecurity is a business imperative, not an operational challenge. This requires a change in mindset from small business leaders, new questions must be asked, and behaviors need to change:

  • Can my business afford to suffer a cyberattack?
  • Will a cyberattack irreparably damage my brand?
  • Will a cyberattack burden my employees, customers, and trading partners?

Honestly answering these questions will change the importance of cybersecurity in a small business’s growth strategy.

If you are looking for an expert to help you find the best solutions for your business talk to GCInfotech about a free technology assessment

Published with consideration from SmallBiz Technology SOURCE

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