#two-factor authenication

We keep hearing about more and more cases of fraud or identity theft. In fact, in a study conducted by ACI Worldwide, a major global payment provider, 49% of consumers engaged in at least one risky behavior, exposing them to financial fraud. While some banks and companies have taken additional measures to increase security, a bigger emphasis must be placed on implementing multi-factor authentication throughout the industry.

Keeping our information safe and protecting our identities is always of utmost importance. Even though we may try to take some extra measures to keep secure, the Association of Certified Fraud Examiners (ACFE) estimates that every year $3.7 trillion is lost to fraud. These numbers highlight the importance of educating oneself on the seriousness of fraud and implementing the proper strategies to minimize associated risks. During November 15-21, International Fraud Awareness Week aims to provide the information necessary to inform people and businesses alike of the risks that exist and tips on how to prevent fraud from occurring. The ACFE sponsors the week dedicated to awareness, detection, and prevention. To help join the fight against fraud, here are some tips that could help minimize your risks.

In this day and age, protecting sensitive information is of utmost importance for companies of all sizes and companies operating within all industries, as storing and transferring information online has become ubiquitous. Your customers trust you to keep their information confidential and secure when they choose to conduct business with you. Keeping this trust becomes a valuable asset because if you are susceptible to a breach, your reputation is likely to take a huge hit. While the examples below are of major companies who were able to bounce back from tragic breaches, they had the capital and resources to recover and pay for hundreds of thousands in legal fees and lawsuits. Your company may not be so fortunate. So, how could two-factor authentication have prevented some major hacks and heartache?

With all of the recent data leaks, data breaches, and hacks to major organizations in recent times, companies have begun taking notice of the severity of the situation and taken strides towards increased security. Facebook takes pride in its reputation as an innovator and has stated that they constantly monitor accounts for potentially malicious activity to keep accounts secure. As of October 16, 2015, accounts will receive notifications similar to the image below: