Why Your Identity Solution Isn’t Perfect
A broken authentication flow is one of the top security risks facing
any company. All too often, companies either implement ineffective
solutions, or forego them altogether. This gives cyber terrorists a
free pass to take advantage of weak credentials, steal access keys,
and even exploit security vulnerabilities to carry out system attacks.
Verizon, an astonishing 80% of data breaches were due to compromised or weak
passwords, and 86% of these breaches had financial motivations.
Whether your company has purchased a security system, built one
itself, or is in the process of evaluating different providers,
attention needs to be paid to the capabilities of the solution and how
effective it is to combat cyberattacks.
How to Identify an Imperfect Authentication System
A majority of cyberattacks stem from weak authentication. Compromised
credentials and phishing are the most common methods used by cyber
attackers to breach data. There are various methods hackers use to get
a hold of a user’s credentials. A few popular data breach methods are:
Hackers access databases with unencrypted user credentials, and
sell these lists to other bad actors who, in turn, use brute force
attacks to breach various websites. This method is effective
because, according to a Google Harris Poll survey, over 50% of
users reuse passwords across various websites.
Similar to credentials stuffing, hackers use common or weak
passwords to try to illegally access a user’s account. This kind
of brute force attack is effective because, according to a
SplashData survey, over 23 million accounts used rudimentary
passwords such as “123456”, and millions of other accounts used
“password”, curse words, and other easy-to-crack passwords.
Phishing involves bad actors sending emails to users impersonating
a bank, or another trusted source. The attacker usually presents
the user with a message saying there is an error in their account
or there was an unauthorized payment made, and tricks the user
into sharing their credentials. Phishing attacks commonly
encourage users to open the email by playing on their emotions
through use of personal subject lines.
How to fix an Imperfect Authentication System
Since a majority of data breaches in imperfect authentication systems
are due to leaked credentials, a major solution is to strengthen
password policies. The most effective way to do this is by
implementing multifactor authentication.
Multifactor authentication is a user verification method that requires
users to provide two or more factors, or verification methods, to
confirm their identity. It takes into account three main factors:
Something you remember
This will be the single factor authentication measure most
companies already have in place, i.e. a username and password
Something you own
This will be something that each individual physically has on
them, i.e. their personal laptop or mobile phone.
Something you are
This is something that is unique to each individual that cannot be
replicated, i.e. their biometrics.
An example of a login flow using multifactor authentication, as with
LoginID’s solution, would be a user registering a unique username,
and then using the biometric data saved onto their device to login
to the website or platform.
Multifactor authentication is an effective way for companies to
prevent the kinds of data breach methods mentioned above. By asking
for an additional layer of security that is unique to a user, such
as their fingerprint or face scan, a business automatically adds a
strong level of additional security that is virtually impossible for
bad actors to fake.
As more businesses are providing their services online and encouraging
their users to transact and make payments online, the need for
enhanced levels of security arises. Implementing a multifactor
authentication solution, such as LonginID’s, allow businesses to
secure their platforms against external attacks. LoginID’s solution
aids the seamless adoption of a high-end, easy to implement security
system with built-in tools and best practice recommendations so
companies can hit the ground running and rest easy knowing their
systems are well-protected.
LoginID is a comprehensive FIDO-based multifactor authentication
solution that offers frictionless authentication. Created with
developers and enterprises in mind, LoginID is FIDO-certified and
adheres to P2D2 principles. With an implementation time of just one
hour, LoginID’s multifactor authentication solution is a quick, simple
to integrate, cost-effective, and regulatorily compliant tool to give
your business peace of mind around security, allowing you to focus on
growing your business.
Get started for free by checking out the demo
Learn more about LoginID’s solutions