Is 2-Factor Authentication Safe?

Two-factor authentication is a common security measure used by both individuals and businesses to keep their accounts safe. As technology progresses and hackers become more intelligent with additional safety measures, it is often asked, is 2FA really safe?

We have outlined more information about what 2FA is, the benefits and any safety disadvantages. Safety measures should be the top priority when protecting a business, so it is important to be at the forefront of industry changes.

What is Two-Factor Authentication?

Two-factor authentication is a cybersecurity measure that requires users to give two forms of authentication to confirm their identity to the account, platform, or system they are trying to access. It is an additional layer of security that requires more than a password to make it more difficult for hackers to get access to the account. 

How Does Two-Factor Authentication Work?

This is the process of how 2FA comes into play when a user is accessing an account. If the user has the initial password they can either be granted or denied access based on the second authentication layer:

1. User Enters Their Username and Password: The user begins by entering their regular login credentials on a website or app.
2. System Requests a Second Factor: After the password is accepted, the system prompts the user to verify their identity using a second factor.
3. User Provides the Second Factor: An example of a second factor can be a one-time code via SMS, authenticator apps,  or facial recognition. 
4. System Verifies the Second Factor: If the second factor is correct, access is granted but if it is incorrect or not provided, access is denied.

The Different Types of 2FA 

There are multiple ways a user can implement two-factor authentication, including the following: 

SMS Texts & Emails

This way of 2FA gives a user a code that is sent straight to their phone or email to enter. It is a push notification that is sent to where the user declares when setting up the authentication. This way, it adds an extra layer of security should a hacker have the password to the account they’re trying to access.

Authenticator Apps

Downloading apps such as Google Authenticator to generate a time-sensitive code. Time sensitivity is a great security measure as the codes will constantly change and you have to enter within a certain timeframe. 

Biometric approval

Biometric approval is most commonly in the form of your Face or Fingerprint ID. This means a user has to have this recognition to gain access to the account. For 2FA, it is hard for hackers to replicate this due to the uniqueness of the information, so it provides strong security. 

Hardware Security Keys & Smart Cards

The user plugs in or taps a physical key to register their identity. This is almost impossible for hackers to bypass this method as you need to be physically present for it to be approved. 

Device Based Authentication

Often, accounts can be tied to specific locations/ devices, meaning the authenticator can recognise when a user has logged in through unfamiliar means. You will often receive a push notification through your contact details (eg email) to take action if a device or location isn’t recognised. 

What Are The Safety Benefits of 2-Factor Authentication? 

Two-factor authentication is a safe way to keep accounts protected with an additional layer of security. The main benefits include: 

• Stronger Account Security: 2FA significantly reduces the risk of hacking, even if passwords are leaked or stolen. Protects sensitive information from cyber threats like phishing and keylogging.
• Protection Against Phishing Attacks Hackers can steal passwords through phishing emails, but without the second factor, they cannot access accounts. Push notifications and security keys further minimise phishing risks.
• Reduces the Impact of Data Breaches: If a website is hacked and passwords are exposed, 2FA prevents unauthorised logins. Many companies enforce 2FA as part of their cybersecurity policies.
• Compliance with Security Standards: Many organisations and industries require 2FA to comply with data protection regulations (e.g., GDPR, PCI-DSS). Helps businesses secure customer and employee accounts.
• Secures Financial Transactions: Online banking, cryptocurrency exchanges, and payment apps use 2FA to prevent fraudulent transactions. Adds an extra verification step before transferring funds or making payments.
• Reduces Fraud and Identity Theft: Hackers often use stolen credentials to commit identity theft. 2FA adds a barrier that prevents criminals from accessing personal data.
• Easy to Implement and Use Many websites and services offer built-in 2FA options (e.g., Google, Apple, and Microsoft accounts). Authenticator apps and push notifications provide convenient and secure verification methods.
• Cost-Effective Security Solution: 2FA is a low-cost security measure compared to other advanced cybersecurity tools. Businesses and individuals can enhance security without major investments.

What Are The Safety Disadvantages of 2-Factor Authentication? 

While two-factor authentication is a reliable, additional safety measure, it is never deemed 100% safe. Here are some safety disadvantages: 

• Backups & Recovery Weaknesses: If backup methods (like recovery emails or backup codes) are not securely stored, attackers can use them to bypass 2FA.
• Device Theft or Loss: If an attacker gains physical access to a device with stored authentication codes, they may be able to log in with stored passwords and access to the 2FA backup. 
• Impersonation: Attackers may impersonate IT support or a company representative to trick users into revealing their 2FA codes.
• Lack of Adoption: Users may avoid enabling 2FA due to its complexity or fear of being locked out.
• Malware & Keyloggers: Malware can steal session tokens after two-factor authentication, bypassing the need for a new 2FA code or capture one time passwords from SMS/ authenticator apps.
• No code limitations: Some systems don’t properly limit login attempts, allowing attackers to guess 2FA codes. If codes are short, hackers have continuous attempts. 
• Phishing Attacks: Hackers can trick users into providing both their password and 2FA code through fake links and pages, capturing the data for both sets of credentials and using them before the expiry. 
• Real-Time Attacks: Hackers can intercept credentials and 2FA codes in transit if the connection is insecure, this can be done using automated tools to not let codes expire. 
• SIM Swapping & Phone Vulnerabilities: If 2FA relies on SMS, attackers can take over a victim’s phone number via SIM swapping (convincing the carrier to transfer the number to a new SIM).
• System Failures: If the 2FAprovider, such as an authentication app, experiences downtime or is compromised, users may lose access.

Conclusion 

Two-factor authentication is a beneficial security layer for businesses with correct usage, management and education for employees. It is important that all users are aware of phishing scams and ways that hackers can access the information should they not spot the warning signs when handing over sensitive information. 

Otherwise, 2FA is a low-cost solution for businesses to adopt and have as standard practice to keep their accounts and data safe. 

IT Software Services With SES Computers 

Here at SES Computers, we have specialist IT Security Services with over 20 years’ experience in helping UK businesses keep their data safe. Whether you’re a start up business or a large enterprise, our managed cyber-security services will be tailored to your technology infrastructure with round-the-clock management. We also have vulnerability management solutions to mitigate any security weaknesses before they can be exploited. 

For more information, please contact our experts by filling in our contact form.