Member Article

It takes 5 seconds to save digital life

With 114,000 identities stolen last year, coupled with identity related crime reported as the biggest form of fraud – protecting your identity has never been more important. Despite most banking institutions and many commonly used online platforms like Twitter, Facebook, Dropbox and Hotmail now adopting two factor authentication (2FA), individuals are still sceptical. SecurEnvoy’s co-founder, Steve Watts, warns that individuals must be educated on 2FA to understand it is an added layer of security, not an inconvenience.

Gmail’s recent announcement of the introduction of a new two-stage login system, hints towards a future of 2FA, but was met with negativity. This highlights that a large proportion of users do not understand how 2FA works, or its importance.

Steve Watts, co-founder of SecurEnvoy, said : “This resistance stems from individuals worrying about offering personal information such as their mobile number, as a form of authenticating accounts. It is essential to fill this knowledge gap for them to understand that inputting this detail actually means their other personal details remain secure.”

“2FA is now mainstream and is a part of everyone’s online life. Individuals need to understand that the introduction of two factor authentication is a step forward not back. It can take 6 seconds for a hacker to take your digital identity, but it only takes 5 seconds to add the extra security layer that prevents this.” says Watts.

“Traditionally when you forget your password, a series of security questions can help grant access to your accounts. Unfortunately, that method has been proven countless times to be insecure. That is because all answers to those commonly asked questions can be found by digging through your social media. Many online platforms now send a one off code to a secure email or mobile number, decreasing a hackers chance significantly. This process of 2FA takes only an additional 5 seconds on top of the usual inputting of a username and it ensure complete security and piece of mind.

“This isn’t an issue facing only end-users though, businesses need to realise the importance of two factor authentication to protect employees and corporate data. It will take employees just over an hour a year with this added step. “ says Watts.

Cybercrime is very prevalent in not only the UK but across the world. Juniper research estimates that by 2019, data breaches will cost US businesses $2trillion. This is a cost that can be avoided if two factor authentication is in place.

In addition to this, the correct education and insight can equip employees and end-users with the knowledge and confidence to trust this method and save important personal and corporate data from security breaches.

Mainstream 2FA found on current online platforms suit the needs of everyday users, but businesses need to consider stronger forms of 2FA that are faster and more convenient – but above all, even more secure.

By utilising near field communication technology (NFC), employees can protect important data and their identity in 5 seconds. This process involves a user simply choosing the account they want to activate, entering a four digit pin and tapping their phone against any Windows 10 enabled PC or tablet device. See more on this here: http://bit.ly/1RPq8Zb.

This was posted in Bdaily's Members' News section by Steve Watts .