What is Multi-Factor Authentication?
Multi-factor Authentication (MFA) is becoming increasingly important for protecting systems such as email accounts and financial services logins. MFA refers to adding an additional step when logging into a system. MFA prevents malicious actors from accessing systems even if they possess one of the factors, such as the password.
There are three types of factors. To count as Multi-factor Authentication you must have two different factors.
Something You Know
This is the most common factor used for authenticating into a system. This factor would include passwords as well as security questions or “out of wallet” questions that can be easily recalled by a user but obscure to most other persons and difficult for them to uncover. Essentially the information should be something that only you would know.
Something You Have
This factor is something you possess either physically or in software form, that is unique to your login. It could include tokens, security cards, or a special certificate installed on your computer. More commonly, this could be your mobile phone, which can receive a verification call or text message. There are also apps that provide temporary codes for logins.
Something You Are
This factor is biometric authentication into a system and includes methods such as fingerprint scans, facial recognition, and retina scans. Many smartphones have these factors available for login. If there is the opportunity to use these secure methods, it is highly recommended.
Multi-factor Authentication can be one of your greatest protections against cybercrime, helping to prevent data loss, breaches, and even ransomware. Review your systems for opportunities to implement MFA to help protect yourself and your information.
Helping you protect your financial information is important to us. For additional information on ways to prevent, detect, and respond to threats to your accounts, please visit: EnterpriseBanking.com/security.
If you think you are the victim of fraud related to your account with Enterprise Bank, please contact the Bank’s Call Center at 978-459-9000.