The security landscape is changing faster than ever, highlighting a disturbing trend in which the number and types of cyber-crimes, even making the big IT firms vulnerable to their attacks.
Based on a survey, approximately 60% of small enterprises have been victims of cyber-attack over the past few years, most of which did not even realize that they were attacked until the ransomware. About 76% did not have a plan to deal with such attacks and around 57% did not have a plan for protecting their employee data or lacked a plan for protecting their customer data.
No matter how strong your password is, the criminals of cyber landscape are clever enough to break and enter your accounts. But why do they do it?
Cyber-criminals not only misuse the information they find, such as financial information, personal identifiable information and customer data but they are likely to sell the data they find on the dark web, where the price per item is likely to be the same, no matter the size of the enterprise. Not understanding cyber threats and what it could do, can lead to major loss for a company so far as to shutting it down.
EVC Ventures, as a Venture Capital fund, understood this gap of why certain companies are easy targets and how can such attacks be prevented. With this in mind, EVC Ventures invested in QuickLaunch, a cloud-based, self-service Identity as a Service (IDaaS) platform, to build an Adaptive Multi-Factor Authenticator, a strong cyber-defense system for enterprises.
How Does QuickLaunch Provide Security To Your Enterprise?
Adaptive Multi-Factor Authentication, helps mitigate threats by adding additional parameters for authenticating users based on their roles and the privileges they have. QuickLaunch provides enterprises with an Adaptive MFA technology with the following features:
1. Role-based Authentication: QuickLaunch MFA includes an in-built role-based feature, which helps users authenticate through several modes like SMS, Email, Mobile App etc.
2. Diverse Detection: Diverse detection helps trigger authentication based on user’s location, network, device, browser etc. This secures access to your enterprise data based on a user’s behavioral attributes and prevents any intrusive/unauthorized access.
3. Challenge Questions: Its always best to provide a second layer of authentication with challenge questions. Setting up custom questions pertaining to an individual’s user identity will make sure that no one else would be able to access your critical applications or system.
4. Push Authentication Notifications: Push notification supports traditional channels of authentication such as SMS and Email, yet another way of verifying the right user and keeping the threat at bay.
5. Self-Service MFA: It’s highly important to train end-users on how to recognize a phishing scheme and to stop it immediately. QuickLaunch MFA empowers users to reset their passwords if they feel someone was trying to hack it.
The Bottom Line Is
Every day is a challenge to improve the company’s security awareness and reduce risk. Although, you may have a security program already in place or may even be following few of many security arrangements as mentioned above, but to really stay one step ahead in the game, you need to realize that no security measure is ever enough. It is important for all of us, and not just our security team, to stay up-to-date and learn from other’s mistakes.