Cybercrime is a global criminal industry that is growing every day at an alarming rate.
Some estimates show that by 2021, it will cost the world economy over 6 trillion dollars. This number is more than the entire annual revenue of the US manufacturing industries.
Criminals of all kinds are looking toward cybercrime as the future of crime. With the growth of internet users and effective social media marketing, most dealerships have moved online to capture market share on these growing platforms.
Hackers and criminals are aware of this and are quickly adapting to these changes. They realize that the advantages of stealing money and data remotely from any part of the world are a much more lucrative way of crime.
Dealerships can and do use high-tech hardware and software to overcome these problems, but they sometimes miss out on the simple and basic steps they can take to prevent themselves from becoming victim to a cyber attack.
Passwords are often the first line of defense for any network or security system. They are the keys that grant access to data and sensitive information about your dealership. Yet most dealers do not prioritize passwords as they may software or other security tools.
This leaves a weak spot in their security which is exactly what cybercriminals are looking for. Passwords are an important aspect of security and should be prioritized as such.
A password alone is also not enough to protect your data. This is mainly because passwords are made by people and people are prone to make mistakes. They may scribble passwords down on post-its and forget where they left them or create the same weak password for every account.
This is a data breach waiting to happen.
Two-factor authentication (2FA) or two-step verification is a way to secure your passwords by adding an extra layer of security. It is a security process where users provide two different authentication factors to verify their authenticity to a security system.
2FA is a great way to improve your password security as it requires two different factors of verification. This means that if a hacker is trying to breach your system by using your password, they will have to verify their identity from another source before they are granted access.
This will better protect your credentials and avoid any unwanted breaches from potential hackers.
How to Improve Your Password Protection
There are several ways to improve the security of your passwords, they include:
- Creating unique and long passwords
- Using a different password for different accounts
- Updating and changing passwords
- Using two-factor authentication
Following these simple steps will ensure that you and your dealership have an increased chance of avoiding password related breaches.
Two-factor authentication is a crucial step for any dealer trying to protect their systems and sensitive data. The increased security it has to offer will give you true peace of mind.
To find out more about two-factor authentication and what options are available to you, please get in touch with us today.