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In year 2021 alone, data breach costs increased from $3.86 million to $4.24 million, the highest in the past 17 years. Due to the pandemic situation, many workers must work remotely, which in turns attract cyber criminals. When employees are working from home, they are more vulnerable from cyber-attack because of the inadequate protection provided by the company. Fewer than 3% of organizations protect their employee’s mobile devices.
Humans continually becomes the weakest link in cyber security protection. Many employees may not be aware about the danger of cyber-attacks to their companies. Twenty percent of employees are likely to click on phishing email link. 5% of them are lured to enter their credentials on a phishing website.
Every minute, $2,900,000,000 is lost to cyber crime. Source : Forbes
If you haven’t thought about ways to secure your accounts, you should.
Why Using Password Only Is Not Enough?
Do you think that you have used a safe and strong password? Think again. Password is a huge part of cyber security strategy. While many know the importance of using unique usernames and complex password combination, people still have bad habits of using an easy, predictable password, nonetheless. Although people realize that it is dangerous to use the same password for all their accounts, as many as 59% continue to use the same password everywhere, making it easier for cyber criminals to access all important accounts once the password is hacked.
A survey revealed the reality of long-term remote working in terms of cyber security. 31% of the users surveyed use vulnerable devices when working remotely while 45 % admitted relying exclusively on unsecured WIFI networks. Coupled with human errors caused by negligence, it is no wonder that 1 million passwords are stolen every week according to Breach Alarm in 2019.
Multi Factor Authentication (MFA) for More Secure Access
Unlike single password, MFA verifies user’s identity in multiple steps using different methods. It provides another layer of security for additional protection. An example of MFA is when you are using your online bank accounts. Some financial websites will send you a code via text to your mobile device that is used for login to your online bank account.
Usually there are three types of MFA that are used for user identification:
– Something you know (for example: PIN or password)
– Something you have (for example: hardware token)
– Something you are (for example: face recognition and fingerprint)
IT departments are expected to be the front players in protecting their companies from cyber attack. IT admins may have installed antivirus software, raise the firewall, deploy encryption technology, etc. But if MFA is not implemented, these other security measures can be bypassed. MFA is simple to implement and can be rolled out quickly throughout the company without heavy investment, protecting company’s data in a fast, secure way.
What is Software Token Authentication as MFA?
Software Token Authentication is an authentication method using an app which is installed on your smartphone and produces 6-8 digit codes for every login. You will then have to put the generated code to access the data or application.
RC Devs with Open OTP Token provides the most advanced OTP authentication system supporting simple registration with QR Code Scan, Software Token based on OATH standards, and Approve/Deny login with push notifications.
Open OTP is very easy to implement into any existing web applications. It is highly available and ready to use once the software is installed, making it ideal to implement across organizations with very minimum disruption. Open OTP from RC Devs has many advantages compared to other MFAs, such as:
- Providing extra layer of security
Adding an OTP password to your current access management will prevent any unauthorized access to your mobile phone.
- Flexible configuration
You can choose and configure the length of passwords and the algorithm, matching it to your requirement
- Multiple token
Open OTP feature allows you to create many tokens in one device
- Supports mobile e-signature
Open OTP can be used along with Yumisign, allowing you to click and directly sign with your mobile phone while still conforming with global practice law.
Open OTP from RC Devs is suitable to use in any industries, both for small and large corporations. Whichever MFAs that you choose, consider your company’s risk factor and how easily it will implement throughout your organizations. Keeping it simple is often the best policy for any IT implementations. Using Open OTP, organizations can quickly deploy MFA to increase users’ security while still conforming with your IT budget. Using Software Token such as Open OTP, MFA authentication process is simplified and streamlined, making it easy for users to embrace the new change. Remember, improve your security, not your workload.
