Two-Factor Authentication: How Safe Is The Extra Security Layer?
Although Two-Factor Authentication has become synonymous with uncompromised security in the last several years, there are ways that the process can be exploited to expose the accounts and devices that use it. Before setting up any 2FA solution, users should be aware of both its strengths and weaknesses.
As technology has gotten better, hackers have only grown stronger. As a way to keep accounts and devices safer from attacks, many companies have adopted Two-Factor Authentication. This extra step usually entails the service sending a message to a device or authenticator software that must be inputted before access is granted. By doing this, companies are adding an extra security measure that lowers the risk of an account being compromised, which has become a necessity.
However, 2FA isn't the all-encompassing security solution that some companies have made it out to be. While it's true that any Multi-Factor Authentication is better than just a traditional password, none of these solutions are free from hacks or workarounds. With 2FA coming as part of the standard setup procedure for many operating systems, devices, and third-party websites, many users may see it as the only thing necessary to keep their data secure.
While 2FA has been commonplace in the business and security world for years, it wasn't until fairly recently that the privacy solution made its way to the average consumer. 2FA falls under the umbrella of Multi-Factor Authentication. MFA is the process where a user utilizes multiple forms of authentication when confirming their identity online. According to KnowBe4, there are "more than 12 ways to bypass MFA" and "48% of cybersecurity breaches are not preventable by strong multifactor authentication."
One of the easiest ways that 2FA accounts can be compromised is by a simple phishing scam. Although a user's account can be made more secure by using 2FA, there are certain phishing emails that can trick a user into supplying both their login credentials and 2FA code. Even when MFA is used, client-side attacks, bugs, and old software can still be exploited, leaving users vulnerable. 2FA is just one step to creating a safer environment. It isn't the comprehensive solution that some have made it out to be.
Despite this, there's no question that using 2FA is still far better and safer than not using it. Although it isn't the only way that data should be protected, it can significantly reduce the risk of having an account compromised.
Source: KnowBe4