Ping! The sound of a new
message that fills the inbox of your email account is not something new. Yet
another offer to update your business information, sign up to purchase the
latest product or join a new social networking site. However, while filling out
details of your business and typing in sensitive information, the thought of
misuse of data may be the last one on your mind. However, a spurt in cyber
crime over the last few years means that your data may not always be safe. It
also means that the transmitted information may not always reach the intended
destination.
Information being
intercepted in the middle is not entirely new, but how this is done has changed
over the years. With phishers and hackers occupying cyberspace with more gusto
than we can imagine, no one is exempt from the attackers’ net and therefore,
using a mobile phone as an additional tool to verify information has become
even more important.
To counter illegal
interception, technology has introduced new mechanisms when it comes to people
identification and to verify phone numbers. While doing away with simple
passwords, a more robust approach of phone verification has been put in place.
A strong phone
verification system keeps a watchful eye out for hackers and fraudsters to
prevent attacks as well as ensures that all account details of a customer are
delivered to them via SMS. A tighter control over user accounts can be
established and account hijacks can be reduced, thus avoiding falling prey to
phishers.
But, how well do these
phone verification tools actually work? An in-depth look at the system brings
out some loopholes through which phishers find an easy getaway. A shaky
verification structure of quick resetting of passwords without proper
certification and a faulty authentication process can often prove to be the
final nail in the coffin.
While most systems
carefully check the functioning of the phone verification tools at regular
periods, MITM attacks often strike at the heart of the most unsuspecting of
users. Therefore, a hack proof two step verification process also known as “two
factor authentication” or 2FA helps minimize and even completely remove the
risk of attacks.
This system combines a
unique password with an access code relayed directly to a user’s phone. Without
the access code, a hacker cannot intercept an account even though he may know
the password for it. It is a double sheath of sorts that makes online
transactions more secure, reliable and competent, thus, saving one from legal
hassles and unnecessary costs related to fraudulent deals.
While internet giants
like Google and Facebook have made phone verification of user accounts
mandatory on many levels, Smartphone apps such as Whatsapp and Viber use it
too. Once a new user signs up, an access code is required to complete the
installation of the app. This access code is delivered via SMS or an automated
phone call to the phone number of that user, which is then entered in to
complete installation of the app.
However, even beyond two factors authentication lays
the fact that businesses should be aware of malicious emails and content on the
web. It may start with one, simple click on an unsolicited email but can end
with losses running into billions of dollars for a business. The much needed
solutions of the hour: The ability to have a strong perception of the damage
that can be caused by cyber crooks lurking on the web, maintaining unique
passwords and keeping track of innovations in the two-step verification procedure
so that it continues to be effective over time. Check these boxes and you can
be sure to leave cyber criminals far behind for a long time to come!
Author’s
Bio:
James Brown is a business and technology blogger living
in Los Angeles, CA. He likes to share his knowledge in the field of Internet
security and out-of-band authentication by
writing articles for high-quality blogs/websites. And he is crazy about
baseball.
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