MFA or Multi Factor Authentication, or 2 Factor Authentication, simply means that you need a combination of two or more authentication factors to access your account, usually two or more of these:
Something you know (e.g. a PIN, password or passphrase)
Something you have (e.g. a smartcard, physical token, authenticator app, SMS or email)
Something you are (e.g. a fingerprint, facial recognition or iris scan)
Imagine this scenario, you notice that you have some charges on your credit card for things you didn’t buy. On looking, you discover that your password and credit card have been compromised when you did that impulse buy from a Facebook page … it has happened to many of us, this writer included! …
Suddenly it occurs to you, that password, the easy one you can remember, is associated with all of your accounts. You go to log into your social media and email accounts and realised you have been locked out! The dread sinks to the absolute pit of your stomach, making you nauseous, have they got into your bank account?
How could you have prevented this? Well, not using the same password everywhere is one thing, another is having MFA enabled. When MFA is enabled, a hacker can’t just use your password, they also need access to the device that your MFA comes through, usually your mobile phone.
While MFA can seem annoying at first, it is super important to keeping you, your money and your identify safe online. So do it now, log into your most used accounts and add MFA.
Don’t let this be your fate.
For more information about MFA, check out this article from the Australian Cyber Security Centre.
For more information about secure passwords, check out this post.
Need help?
If you need help with business plans, writing procedures or policies, or get your business organised, Elouise from Ellevate Solutions is here to help you.