Risk Assessment: Checking Out Your Multi-Factor Authentication Security

By Rhodesa | February 29, 2024

According to a cybersecurity report, 80% of all hacking involves stolen user credentials or poor password hygiene. In total over 600 million passwords have been exposed through data breaches. Multi-factor authentication (MFA) adds extra layers of security that will reduce your risk significantly. But unfortunately, MFA can still be compromised.

 

Here are some facts to guide you in assessing your network security:

FACT 1 (HIGH RISK): How do cybercriminals bypass login credentials?

  • Password spraying
  • Phishing
  • Prior data breach / reused passwords
  • Password reset
  • Local discovery

Adding MFA functionality to authenticate your login credentials improves network security. It works by adding multiple layers of security before logging into your accounts. Similar to MFA, 2FA (2-factor authentication) works by verifying the user using two methods. MFA is the top recommendation because it requires you to prove your identity multiple times.

 

FACT 2 (MEDIUM RISK): What do cybercriminals do after bypassing the MFA?

While MFA decreases the amount of risk in comparison with single-factor authentication, your network is still vulnerable to multiple bypassing authentication security:

  • Replay attacks
  • SIM swapping
  • Social engineering
  • Phishing
  • Vulnerabilities in online pages handling MFA authentication

 

FACT 3 (LOW RISK): Can cybercriminals breach a physical security authentication?

Fast Identity Online (FIDO) Authentication is the strongest standard-based authentication method available. It is a set of open technical specifications that define user authentication mechanisms that reduce the reliance on passwords.

Even though FIDO is present as an authentication key, there’s still a slight risk through:

  • Replacement of hardware
  • Outdated hardware keys
  • Limited supply - not all employees are provided
  • Cost of the hardware keys

 

Businesses are struggling to keep their heads up against cybercriminals. The more we pay attention to the risk, the more cybercriminals create new advancements and tactics to trick innocent business owners. Paul Jackson, CEO and Cybersecurity Specialist at Jackson Technologies offers a Cybersecurity Risk Assessment program that will help businesses assess the current situation of their network and detect any rising threats.

 

Get our FREE DEMO of Cybersecurity Risk Assessment and strategize your network security NOW!

Posted in blog and tagged , , ,