A considerable increase in crime rates, an economy that is suffering from indecisiveness, and a continual onslaught of technological advancements are some of the common scenes that we are able to notice in the modern era. Well, in such situations, entrepreneurs must take certain relevant steps, in order to safeguard their businesses from all sorts of complicated problems. One such tetchy issue is identity theft. It can be loosely defined as the fraudulent access and utilization of someone else’s information without the permission of the person concerned. Although frequently neglected, it is such an epidemic that can lead to havoc consequences.
Over the past few years, a large number of top-notch companies are constantly being victimized by identity theft, resulting in huge financial losses. Have you ever thought that what is the possible reason behind such an issue? While some experts blame the poor economy, others hold the escalation of technical innovations responsible. Research has however shown that it is the use of default, weak, or stolen passwords that contributes to identity thefts. In the present times, this problem has become an unsettling trend in all workplaces leading to manifold data breaches. So, exactly how is it possible to solve the issue? You can achieve accomplishment only by enhancing the security systems.
In the following discussion, let us explore some of the techniques by which we can upgrade safety devices and get relief from the major threats of identity theft.
Methods of Improving Security
Identity and Access Management solutions could be defined as an information system or a collection of technologies that are used to handle the identities of a specific enterprise or a network of organizations. This kind of initiative aims at supervising individual identities, their substantiation, authorization, roles, and benefits. The goal is to increase security as well as productivity and decrease downtime, costs, and monotonous tasks. These systems have become extremely popular because of some of the amazing benefits that they provide. Let us take a look at some of them:
- Improves User Experience.
- Simplifies the process of auditing.
- Easy access is enabled.
- Increases productivity.
- Upgrading the security profiles.
Another initiative taken up by prominent companies is multi-factor authentication systems. This solution requires the user to provide extra credentials along with his/her name and password. The system uses these additional elements in order to secure the identity of the user. While an individual is logging into his account, instead of just typing a single password, he needs to provide all the other components previously entered. There are three types of authentication:
- Knowledge- Here the user needs to confront a few security questions, whose answers are already entered into the system.
- Possession- After entering the password, a code is sent to the registered phone number and you need to enter the code.
- Inherence- Use of biometrics such as facial scans or fingerprints.
Passwords have a great chance of becoming obsolete if one needs to improve security. According to studies, in the year 2017, a major portion of the companies would replace the traditional methods and switched to multi-factor authentication.
Contemporary business owners, who desire to protect their companies from the external attacks of hackers and want to secure the information of the enterprise as well as of the individual staff members must seek guidance from the eminent organization of Avatier’s & Duo’s Multi-Factor Authentication systems.