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How does two Step Authentication protects you from cyber threat?

Data breaches can have devastating consequences for either a user or website. Many platforms turned to magic link and OTP (besides using a password) to counter these events and protect users’ online accounts. At present, many companies are using two-factor authentication (2FA) to ensure no unauthorized party has access. For instance, recently, Google announced that they are planning to make two-factor authentication default for users; so many businesses are obligated to implement it.

Two-factor authentication (2FA) verifies that the person trying to access a device and account is who they say they are. It is a security feature available on devices or applications and standalone app also known as authenticator. Two-factor authentication may also be called multi-factor authentication (MFA), two-step authentication and two-factor verification process. In short, the first factor is something you know, like username and password and the second factor is something you have, such as your smart-phone.

Here are many common misconceptions about how secure is Two-factor authentication

The implementation of Two-factor authentication by many companies as the only security measure has been a source of concern. These experts claim that the concept of Two-factor authentication is misunderstood.

1. It isn’t susceptible to common cyber threats.

Two-factor authentication can be vulnerable for several attacks from hackers because the user can accidentally approve access to a request issued by a hacker without acknowledging it. This is because the user may not receive push notifications by the app notifying them of what is being approved. The codes are sent through unreliable third-party mediums. The safety of sending a code through an SMS message can depend on the mobile provider.

2. The implementation of 2FA can be considered for quick fix for the security breach.

A security breach can have lasting consequences on the reputation of a platform. This is because there are two negative outcomes. The first is one has to obtain a token and cryptic password sent through text message. The sudden requirement of Two-factor authentication may lead to the user being unable to log in. If it’s an optional logging method, most users will overlook how secure is Two-factor authentication and refrain from using it.

3. Almost every Two-factor authentication solution is similar, with minor differences.

There has been a vast difference in how secure is Two-factor authentication since the development of the concept. The authentication can take place by issuing an SMS, a verification link in one’s email account, and through other means. There are even cases where the 2FA process takes place automatically through keying information stored on the browser.

4. Most companies don’t care about how secure is Two-factor authentication but see it as a legal requirement.

Smaller companies mostly don’t spend for the significant amount of revenue on security. They create a makeshift security policy and loose usage of 2FA without understanding its security. Few companies view it as a hindrance to consumer experience since it requires for longer than usual login process.

Types of Two-factor authentication

There are manytypes of Two-factor authentication available, all of them relying on the different forms of factors including:

• Push notifications for 2FA: They have downloaded a push notification app to your phone. When you enter your login credentials to access a website, a push notification is sent to your smart-phone. A message will then appear on your phone requesting that you approve your log-in attempt with a tap. 
• Hardware tokens: This type of Two-factor authentication requires users to possess a type of physical token, like a USB token, that they must insert of their device before logging on. Some hardware tokens display a digital code that users must enter.
• SMS and voice 2FA: they have received both a text and voice message giving you a code that you must then enter to access a site /account.
• Software tokens for 2FA: These tokens are apps that you download. Any site that features Two-factor authentication will then send a code to the app that you enter before logging on.
• Location: If your account was created and registered in one state, and suddenly a log-in is attempted in a different location, it may trigger a location factor. These factors will alert you when a log-in is attempted on a new device and send you a code to enter to verify your identity.
• Biometrics: To log onto a site, they have verify it through something physical about you. Most commonly, this means using a fingerprint scanner.