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5 Reasons 2FA Is Crucial For Your Cyber Security

Information Technology

Did you know 43% of cyber attacks are against small businesses? And that 60% of small companies go out of business within 6 months of a cyber attack?

On average, small businesses that experience a cyber attack spend hundreds of thousands of pounds to repair the damage. They lose even more money because of the disruption to their normal operation. Wish it was avoidable?

It is!

Cyber security is one of those things that many people only really pay attention to once it goes wrong. Other things take priority in your daily schedule and somehow your cyber security takes a backseat.

Once something’s happened - you’re hacked or compromised - then you have no choice but to do something about it. But… by then it’s too late.

One of the simplest things you can do to protect yourself from the worst? Implement 2-factor authentication within your company.

What Is 2FA?

Two-factor authentication (2FA) is a simple method of verifying your identity in addition to using a password. It strengthens your login security by requiring two authentication methods (otherwise known as factors) in order to get access to an account or system.

Usually this involves first imputing your password as normal, and then receiving an additional code by text, email or through an app. It’s only with this code you can gain access.

Why 2FA Is A Must Have For Any Business?

If you want to stop hackers from stealing or accessing your sensitive company data, then two-factor authentication is a must.

Passwords alone can be guessed, stolen in phishing scams or taken in malware attacks. 2FA gives you peace of mind from this.

1- Prevent Hackers

2FA prevents people from getting access to things like your website and emails. If they try to hack your website for any reason, sometimes to steal your data or host inappropriate content, they will be blocked from doing this.

This means only the people you want accessing the backend of your website will get in.

2- Protect Your Data

Since the introduction of GDPR, people have tightened up on their data protection. We’ve always had the data protection act but GDPR brought this front and centre for businesses of all sizes.

People are more cautious with their data these days, so businesses have a duty to protect the data of their clients and prospects.

As you probably found out during the roll out of GDPR, you can get fined pretty heftily if you fail to do this. 2FA is one way you can ensure everywhere you’re storing data is kept secure and less likely to be hacked or stolen.

You don’t ever want to have to contact your entire client or prospect list and tell them the data they have stored with you is compromised! It reflects badly on you and can lead to a lot of damage to your company’s reputation.

3- Save Money

2FA is generally free.

Simply install an app on your phone and set it up with whatever you’re adding it to - your client database, your company software, whatever you need to protect. 2FA essentially has no cost associated with implementing it, making it accessible to companies of all sizes and positions.

This means there’s no excuse to leave your valuable data vulnerable.

2FA can also prevent you from paying out big costs recovering from a cyber attack - and the ensuing loss of earnings during your downtime.

4- Neutralises The Risk From Compromised Passwords

If your passwords do get stolen or if your team members are using weak passwords (think 1234 or birthdays), normally you’d be in a pickle, to put it politely.

You would be totally open to attack. However, with 2FA you’re protected. Even if hackers do get passwords, they still can’t get access. Unless they have the actual device being used for the 2FA (usually an individual's phone or tablet), then they won’t be getting into your system, your money, your bank or your emails.

It’s simple and effective.

5- It's Super Simple

2FA is a no-brainer. It’s simple to put into action, it’s free, and anyone can use it on a daily basis regardless of whether they’re in the office or working from home.

If you want to know where to get started, some of the most widely used 2FA apps are Google Authenticator and Authy. You install them on your phone and set them up in one sitting and you’re ready to go.

Is 2FA Right For You?

It doesn’t matter what size your company is or what industry you’re in. It’s essential that you’re putting in place even the simplest of cyber security measures. Cyber attacks can come at any time and that means the best time to start using 2FA was yesterday!

There are other things you can do as well as 2FA to make sure hackers can't get hold of your data and can’t put a hold on your entire business. If you’d like to know some more of the super simple and highly effective ways to protect you and your company from cyber attacks, get in touch with us here.


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