Cybercrime is on the rise.
Economies and businesses around the world face new and upcoming challenges all the time but probably none have been as disruptive as cybercrime has been in these past few years. It is by far the biggest threat to US businesses as of now.
Whether you run a small dealership or large, with thousands of successful hacks taking place every day, you are a potential target and under common threat of cyberattacks. Cybercriminals and hackers are updating their tactics and approaches and becoming better and better by the day.
While there is no fool-proof way to protect yourself and your dealership completely, one security method has shown to work effectively against hackers' breach attempts.
This One Thing Prevents 99% of Hack Attempts on Dealerships
According to tech giant Microsoft, multi-factor authentication is able to block 99 percent of hack attempts. Microsoft experiences over 300 million fraudulent sign-in attempts to their cloud services every day and MFA proves to be the best way to obstruct 99 percent of these attempts.
A common example of MFA, which you may have experienced, is when you log into your banking account. Chances are it will always ask you to confirm your identity via an extra security measure such as providing a one-time password (OTP), or code, sent to your mobile device.
This is what MFA is, it is a verification process that requires a separate channel to authenticate your identity when logging into your accounts. An effective technique that can be applied to all your other accounts as well, such as social media accounts, emails and business accounts.
Why Multi-Factor Authentication (MFA) Works
When hackers or cybercriminals try to breach your account, they typically rely on the credentials of their targeted account. They may manage to get their hands on them through various hacking techniques such as duping you through phishing scams or using a criminal database with leaked credentials.
While they may get access to your credentials with relative ease, it is much more difficult to get access to your phone messages, which is why MFA works. By asking you to authenticate your identity at every log in, MFA is protecting your online accounts from these hackers.
Hackers typically cannot and do not go through the efforts of fighting this security measure because it is incredibly difficult and close to impossible. Which makes it an unviable pursuit for them, and they usually give up on their hack attempt.
Multi-factor authentication may seem like an inconvenience but it is a minor inconvenience compared to the major hassle of a breach. Your accounts and sensitive dealership data are well protected, thanks to MFA, and there is absolutely no reason to not take advantage of this free service.
To learn more about multi-factor authentication or to discuss what other options are available to you, please get in touch with us today.