According to figures from the UK government, 39% of businesses have experienced a cyber security breach in the last year. The effects of a cyber attack can be devastating, posing not only a risk to your business, but also to your brand – and it’s set to grow as we operate in an increasingly online world.
The global impact of COVID-19 and its implications for businesses (such as remote working) has led to a rise in attacks. But the truth is, cyber criminals don’t generally target individuals or businesses – they target weaknesses.
At Xero, we have a responsibility to protect our customers’ data and help them keep their information safe. We don’t just tick the boxes when it comes to security – we go above and beyond to make sure Xero is the most trusted platform for small businesses.
That’s why we’ve introduced multi-factor authentication (MFA) for all Xero subscribers globally. There are some misconceptions about how MFA works, so here are six important things to know.
1. Why do I need MFA?
The more factors required to gain access to a system or account, the more secure it is. MFA means you have to present several pieces of evidence to gain access to a system. It requires at least two factors, and each needs to be different.