How safe is getting a one-time password on your phone?
The concept behind an OTP (one-time password) security token is two-factor authentication (2FA), that being said how could a soft token be considered a second factor?
Recently, there’ve been more and more employees working from home or visiting multiple locations during their work day, which is causing an increase in laptop use. (link to article) This could pose a high security threat. According to a 2012 study by Forrester, 31% of IT executives and ordinary employees across North America and Europe cited simple loss or theft as the explanation for data breaches. (Link to article)
How the U.S. Counterfeit Liability Shift Affects You
It’s been nearly four years since Visa announced their plans to fast-forward U.S. participation in the global point-of-sale liability shift and this date is rapidly approaching in October of 2015. The liability shift could put the onus of credit card fraud onto the merchant and off of Visa, MasterCard, American Express, other credit card companies and financial institutions (link to Visa’s bulletin)
As the world becomes more and more digital and your online presence increases, how will you protect yourself and your company from theft of confidential information exchanged in emails? How will you keep others from faking your signature or signing legal documents and bank checks? Hopefully by the end of this post, you’ll have a better idea of how to answer those questions.
Know the Statistics
So now that we’ve covered why two-factor authentication is so important, you’ll want to know how to set up an easy cost effective two-factor authentication (2FA) system. Well, maybe you’re not convinced yet, but once you learn a bit more about how easy it is, I’m fairly certain you’ll want to set one up. There are many different set ups and products, but let’s keep it simple. We’ll begin with a smart card and smart card reader, much like a version of the bank card system I discussed earlier. You have a card and a PIN, and you can only access the information when you have these two factors together. Again, the something you have is the smart card (i.e. bank card) and the something you know is the password (i.e. PIN).
What is it and how do you use it?
The concept of two-factor authentication (2FA) was easy for me to grasp, but how I could use it to secure so many avenues of access was something that I didn’t fully understand at first. I had to dig a little deeper to find out what it was all about. The concept—“something you have” and “something you know”—is widely used throughout the IT security world to describe 2FA.