Good enough protection simply isn’t good enough anymore
With billions of stolen passwords and credentials on the Dark Web, most people acknowledge that passwords offer little if any protection. Similarly, the vulnerability of software and SMS-based two-factor authentication (2FA) has been well documented. Good enough protection simply isn’t good enough anymore.
Account takeovers, especially via phishing, continue to increase
Fraudsters and hackers are getting smarter and more sophisticated. Account take-overs and breaches were up a whopping 424% last year despite companies spending hundreds of billions of dollars on cybersecurity to prevent compromises.
The account takeover is only the beginning
Once successfully compromised, attackers use stolen credentials and malware to establish a foothold within user accounts. From there, they elevate privileges to steal increasingly valuable intellectual property, as well as sensitive corporate and consumer data. The costs of these takeovers in terms of financial, legal, and corporate reputation are astronomical and can sometimes be fatal to a company.