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11 Jul, 2023

Information Security Brief - July 2023

Another Day, Another Login

What if your favorite restaurant’s online ordering system was compromised? What if someone leaked that rewards system you signed up for five years ago? Or, was the login information for that personality test you took on online published on the internet without your knowledge?

Password complexity is essential, but creating a complex and unique password for every account we use is virtually impossible. A Google and Harris Poll survey found that 52% of people reuse the same password for multiple accounts. [1] Attackers are targeting your passwords using constantly changing innovative methods. They know that if they could compromise just one of your passwords, the likelihood of them compromising multiple accounts increases. BankOnIT uses multiple layers of security and provides the tools to allow our clients to utilize Multi-Factor Authentication (MFA)/Two-Factor Authentication (2FA) to mitigate the risk of attackers accessing your bank’s network. How can you protect your personal accounts during this busy summer? Below are some tips to keep your passwords yours using MFA/2FA.

Keeping Your Accounts, YOURS

A study by Microsoft found 300 million daily fraudulent sign-in attempts on their Microsoft cloud services. Adding an extra layer of MFA/2FA can significantly reduce the potential of account compromise by 99%. [2] Most popular websites and applications now offer built-in MFA/2FA capabilities, and many are requiring them. In addition to built-in MFA/2FA, multiple free applications integrate with websites in one interface (DUO, for example). Below are popular sites and how to set up their MFA/2FA settings.

When creating your next account, take the extra step to see the available security features. Use separate passwords from the ones you use for sensitive banking applications. One step could stop an unfortunate situation.

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[1] https://services.google.com/fh/files/blogs/google_security_infographic.pdf
[2] microsoft.com/en-us/security/blog/2019/08/20/one-simple-action-you-can-take-to-prevent-99-9-percent-of-account-attacks/

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Disclaimer

This publication attempts to provide timely and accurate information concerning the subjects discussed. It is furnished with the understanding that it does not provide legal or other professional services. If legal or other expert assistance is required, the services of a qualified professional should be obtained.

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