Multifactor Authentication: What You Need to Know

Weak passwords make your IT infrastructure an easy target for hackers. Part of the problem is user complacency. Risky practices include: using the same password for multiple applications, storing passwords in unsecure locations and keeping the same password for long periods of time. Once hackers steal a password, they can use those credentials to log in to your DMS, CRM, OEM portal, or employee files and bypass other access controls. These bad actors will wreak serious havoc by causing downtime or stealing your dealership’s data.

In fact, according to the 2020 Verizon Data Breach Investigations Report, stolen login credentials are the top tactic used by hackers to achieve data breaches. So how can your dealership prevent having login credentials stolen? The best practice is requiring at minimum, two-step verification. Multifactor authentication can give you a critical security edge against attacks.

What Is Multifactor Authentication?

Multifactor authentication (MFA) requires that user credentials draw from at least two of three different categories, or factors. Two-factor authentication, or 2FA, is a subset of MFA and only requires two. MFA uses any number of factors for an additional layer of protection.

Typical MFA Sources:

Benefits of MFA

MFA offers critical security benefits, making stealing your sensitive dealership data more difficult for the cybercriminal. The less accessible your data, the more likely that thieves will choose someone else to target. A criminal would need to steal both your password and an authentication code sent to your smartphone to access your dealership’s financial data. MFA significantly decreases the likelihood of a hacker being able to login as you. Some of the other benefits of MFA include:

Why Is MFA Important?

Multifactor authentication significantly lowers risk for your dealership. By installing MFA, you’ll be providing a necessary safeguard for employees, partners and customers. Another important incentive is the Federal Trade Commission (FTC) Safeguards Rule requires MFA as one of the 16 updates needed for compliance.

CDK Global is ready to partner with you to create a cutting-edge cybersecurity strategy. Reach out to your Sales Representative to learn more about our modern, effective Multifactor Authentication solution or visit cdkglobal.com/security.