The Overlooked Free Tool to Online Security: Two-Step Authentication

In addition to exploiting old-school security issues like weak passwords (be honest, we’ve all used our pet’s or kid’s name), hackers are increasingly leveraging advanced technologies like artificial intelligence (AI), machine learning algorithms, and powerful computing platforms to enhance their attacks. The latest algorithms and powerful compute platforms make hacking far more effective, efficient and dangerous in several ways:

1. Automated and Scaled Attacks: AI algorithms allow hackers to automate and scale up their attacks, targeting multiple companies simultaneously. This exponentially increases their chances of successfully breaching networks and systems.

2. Malware Evolution: Hackers use AI to develop malware that can evade detection by traditional security software. This malware is adept at adapting its code or behavior to avoid being identified by antivirus programs.

3. Password Cracking: The latest algorithms accelerate the process of cracking passwords by analyzing patterns and predicting likely combinations. AI-powered tools like PassGAN can crack 51% of common passwords in less than a minute, 65% in less than an hour, and 71% in less than a day. This is substantially faster than traditional methods, which often took weeks or months to crack complex passwords

With all of this going on, much of it in the news, it’s easy to become overwhelmed by online security. So much so, that many of us end up doing the bare minimum and just hope we don't become victims. (Pro tip: The “hope” method of security is rarely effective.)

So how can we protect ourselves effectively without overwhelm? One simple but powerful tool can make a big difference: Two-Step Authentication aka Two-Factor Authentication (2FA). It’s free, easy to implement and built into most current applications that need online security (such as email, bank apps, etc).

What is Two-Factor Authentication?

2FA adds an extra layer of security to your online accounts by requiring not only your password but also a second form of verification. This second factor could be a code sent to your phone, a fingerprint scan, or a hardware token. So if your account is hacked and someone tries to access your account, you’ll get a notification that an attempt has been made to access your account, but they won’t be able to because the hacker won’t have access to your code, scan or token. It’s like having a second lock on your front door – if one fails, the other still stands strong.

How Effective is 2FA?

You might be wondering, just how much of a difference does 2FA make? Let’s look at the numbers:

1. Microsoft reports that enabling 2FA can block over 99.9% of account compromise attacks. That’s a staggering statistic, showing just how effective this measure can be in preventing unauthorized access.

2. Google has found that adding a recovery phone number to your Google account can prevent up to 100% of automated bots, 99% of bulk phishing attacks, and 66% of targeted attacks. These figures underscore the significant protection that even a simple form of 2FA can provide.

3. Symantec highlights that users who enable 2FA are approximately 80% less likely to have their accounts compromised than those who don’t. This reduction in risk is substantial and illustrates the practical benefits of adopting 2FA.

Implementing 2FA

Setting up 2FA is straightforward. As mentioned earlier, Most online services, including email providers, social media platforms, and financial institutions, offer 2FA options. Here’s a generalized guide to get you started:

1. Find the Security Settings: Navigate to the security settings of your online account.

2. Enable 2FA: Look for the option to enable two-factor authentication.

3. Choose Your Method: Select your preferred method of receiving the second factor, such as a text message, an authentication app, or a hardware token.

4. Follow the Prompts: Follow the on-screen prompts to complete the setup.

In a world where cyber threats are becoming increasingly sophisticated, taking simple steps like enabling Two-Factor Authentication can make a world of difference. It’s a small effort for a significant boost in your online security. Stay safe online and everywhere!