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100%
of all automated attacks can be stopped with 2FA
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96%
of bulk phishing attacks can be stopped with 2FA
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75%
of targeted attacks can be stopped with 2FA
Many businesses and individuals have long realized that protecting accounts on devices or websites with passwords is not insecure:
- Hackers can pick up simple passwords of up to 6 characters in seconds.
- Long and complex passwords are not usually memorized. That's why many people often store them in browsers, cloud storage, or on their hard disk. As a result, credentials can be stolen by spy viruses or directly by attackers when they gain physical access to a device.
- Some users encrypt their first name, last name, year of birth, or a mnemonic phrase into their passwords to make them easy to remember. But these encryptions, like short passwords, are easily picked up by hackers.
- Even seemingly strong passwords consisting of a combination of 16 (or more) characters that are not stored in browsers or on devices can eventually be compromised by phishing (fake websites).
Therefore, in addition to passwords, Two-Factor Authentication (2FA) is recommended. It is the most secure method of account protection today.
What is SMS 2FA?
SMS Two-Factor Authentication (2FA) is a method of verifying identity when logging in to a personal account or application. That is, it is a double verification:
- In the first stage, the user usually enters a login and password
- In the second stage, the user enters a verification code from the SMS
The question 'Is SMS 2FA necessary?' arises exactly before the first leaked information, which can cause serious damage to reputation or even a major loss to the business. As a consequence, customer churn.
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How does SMS Two-Factor Authentication work?
The first step is to enter something that anyone can easily remember. This is usually an email, password, code word, etc. The second step is to confirm your identity with a token - a personal device where the password will be sent.
2FA requires the user to have 2 of 3 elements of verification:
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Something known to the person (username and password)
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Something in his/her possession (token)
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Something inherent to him/her (biometric data)
2FA SMS proceeds as follows:
- Name and password verification
- Message with a code is sent to the visitor's cell phone
- Person enters the code from the SMS into the required field on the site or calls it to the operator/cashier
Passing 2FA gives a person access to a personal account. Businesses gain confidence in the individual's authenticity and that an outsider has not stolen the account.
Benefits of 2FA
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Reduce corporate budget costs for customer supportOne of the most common reasons for contacting support is a forgotten password. In many cases, if two-factor authentication is enabled, a forgotten password can be recovered by yourself. Otherwise, the customer support team handles it, incurring additional labor costs. Using 2FA saves help desk time and allows people to resolve issues more efficiently by resetting forgotten passwords securely and reliably.
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Enhance your organization's reputation
Identity security plays one of the most important roles in ensuring customer trust. If the OTP SMS solution is enabled for the end user and the organization uses secure communication channels for user resources, these factors significantly increase trust in the business. This is beneficial for its development and competitiveness.
Users are more likely to favor companies that meet security standards and keep information safe. In addition, the chances that existing users will tell potential customers about the services of a company that cares about data security are increased.
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Save on data recoveryCorporate or user information leakage causes reputational damage and requires additional investment to recover the loss. If regular backups were performed before the incident, costs will be incurred to investigate the incident, find vulnerabilities to prevent future recurrences, and recover from disasters. In addition, there is an increased likelihood of increased downtime, negatively impacting reputation and resulting in lost revenue. OTP SMS is a preventive solution to this problem.