Why is Two-Factor Authentication important?
Passwords have been the mainstream form of authentication since the start of the digital revolution. However, the number one cause of a data breach is due to stolen or weak credentials, in which cyber criminals will use hacking and social engineering attacks to gather said details.
Here are some worrying facts:
– 51% of people use the same passwords for both work and personal accounts
– 57% of people who have already been scammed still haven’t changed their passwords
– 90% of passwords can be cracked in less than 6 hours
– 33% of account-compromised customers have stopped doing business with companies and websites that had a data breach.
Far too many users rely on a password which could be very easily guessed or is used across multiple accounts, which also puts you at risk as not every system has the same level of security. If any one of these systems becomes compromised and your password is leaked, this would also compromise logins for other systems that use the same password.