Hear from Michael Thelander, fraud and authentication expert and author of Multi-factor Authentication for Dummies, about how multifactor authentication (MFA) can assist in the fight against account takeovers (ATOs) in this short video.
“How can multifactor authentication help you in your efforts to try to stop, or at least slowdown, account takeovers in your organization?
Well, to think about account takeovers, how they really occur is most often through a mass of user credentials — usernames and passwords — being acquired on the black market, or on the dark web, and then applied against your websites through credential stuffing, password spraying attacks, any number of methods to try to crack those accounts open. Well if you think about it, if you’re using multifactor authentication, you may get one of those factors passed through a stolen or reused credential or password. But if you’ve always got some other factor - that could be a biometric thumbprint, it could be a facial recognition image, or even could be a separate knowledge factor - through the mobile authentication channel, you’re actually stopping those ATOs right in their tracks. As soon as you have a multiplicity of different authentication methods, the likelihood that your hackers and attackers are going to be able to hit all of those gets a lot smaller and helps you prevent ATOs.”