Cybersecurity is a multi-faceted initiative. Protecting your business – and your family – from cybercrime requires a wide range of oversight and activities. One process being broadly employed is known as “multi-factor authentication” (MFA). Technically defined as a “security system,” MFA requires a user to provide more than a single input or authentication before granting access to an asset, a location or an online account.

Such required authentications are typically categorized in three ways:

1. Something you know (such as a password)
2. Something you have (like a key fob)
3. Something that uniquely identifies only you (such as a fingerprint)

The often-used term “two-factor authentication” is a subset of multi-factor authentication, which, as the name implies, allows access after two separate inputs.

MFA is not new; it has been in use for decades. One of the oldest applications is the bank ATM. To withdraw money from the ATM, you need minimally a two-factor authentication: your ATM card, which is the “something you have,” and your PIN (personal identification number); the “something you know.”

With the exponential growth of the internet and online accounts, MFA enhances protection beyond a password, that is, a single-factor authentication. Because people often use the same password for multiple online accounts, hackers have a much easier time gaining access to single-factor authentication online accounts than MFA accounts. MFA provides a much-needed additional layer of protection to compensate for the bad habit of repeatedly using the same password. (See our article, “Don’t Pass on Password Managers”, to learn about another layer of protection.)

The next time you are frustrated with the extra time it takes to enter multiple authentication factors, take heart. Your business or organization has deployed an additional layer of protection for you. It might be a little inconvenient, but it is hardly a waste of time.

MFA is one aspect of a multi-layered cybercrime defense strategy. We can help you develop your own strategy to protect your business and family. Contact Bill Heaven at 330-758-8613; or email WHeaven@hbkcpa.com. As always, we’re happy to answer your questions and discuss your concerns.

You might have heard the phrase “multi-layered defense” in relation to protecting your computer system from a cyber-attack. A multi-layered defense is, essentially, what the term implies: a defense architecture consisting of multiple layers, from developing policies to monitoring systems, to implementing backup procedures. It is a sensible strategy for protecting assets, physical as well as digital.

For example, consider the protections in place to control access to your safety deposit box. To obtain the contents of your box, you must navigate several layers of security:

• Enter the bank.
• Enter the restricted zone – with an escort.
• Enter the vault area.
• Use your safety deposit box key in conjunction with a second key held by the bank to open the box.

Similarly, you should use a multi-layered defense strategy to protect your computer system. Implementing a firewall and antivirus software are two well-known components of a multi-layered defense. But there are additional components that could make sense for your organization, such as network segmentation, data encryption and two-factor authentication.

Here are a few things you can do to ensure an effective multi-layered defense:

• Check to see that you have a firewall and an antivirus solution in place and confirm that they are working as intended.
• Understand what types of data are stored within your computer system, such as:
1. Company financial data
2. Personal data (employees, customers & vendors)
3. Propriety data (i.e. company trade secrets)
4. Public data

• Determine the perceived value of the various types of data stored in your computer system.
• Understand how all of these data types flow into, through and from your computers – that is, where your data comes from, what you do with it, and who you share it with.
• Determine if there are or should be restrictions as to who inside or outside your organization is allowed access to each type of data.
• Check with your IT Department or managed service provider regarding the implementation of additional multi-layered defense components.
• Lastly, conduct regular evaluations to ensure all of these mechanisms continue to operate efficiently.

HBK can help you develop and evaluate a multi-layered defense strategy. For assistance, email me at wheaven@hbkcpa.com. As always, we are here to answer your questions and discuss your concerns.