There is an urgency in phishing-resistant MFA. This year, ransomware payments skyrocketed, with the average payment jumping by an astonishing 500%. According to Sophos’ State of Ransomware 2024, the average ransom surged from $400,000 to $2 million, underscoring the urgent need for stronger security practices. A major vulnerability is outdated multifactor authentication (MFA), which fails against today’s sophisticated cyber threats. CISA reports that 90% of ransomware attacks begin with phishing, driving the push toward phishing-resistant MFA.
The Power of Generative AI
Generative AI has transformed cyberattacks, creating phishing emails so realistic that even trained users struggle to detect them. Cybercriminals now mimic trusted sources, with phishing leading 9 out of 10 ransomware incidents. Most organizations haven’t adapted fast enough, leaving them vulnerable.
MFA, long a security staple, is no longer enough. Legacy MFA is easily bypassed through phishing, SIM swapping, and man-in-the-middle (MitM) attacks. Attackers use AI-generated voices, deepfake videos, spoofed numbers, and fake Zoom calls to deceive employees into sharing sensitive data. With ransomware-as-a-service (RaaS) and AI-driven tools, anyone with minimal skills can now launch advanced cyberattacks, creating a more dangerous threat landscape.
The Urgency of Phishing-Resistant MFA
Phishing-resistant MFA isn’t just a recommendation—it’s essential. Advanced MFA solutions, like those compliant with FIDO2 standards, incorporate biometrics such as fingerprints and facial recognition, making phishing attacks far less likely to succeed. Biometrics offer high security, eliminating risks tied to passwords and reducing human error, while providing a seamless user experience.
Conclusion
There is an urgency in phishing-resistant MFA. The rise of generative AI and ransomware-as-a-service has exposed the flaws in legacy MFA. Phishing-resistant MFA is now essential to protect against the escalating risks of ransomware and data breaches.
Want to learn about what actually happens during a cyberattack, and the tools you can use to defend yourself? Join Velox Systems and TDS on November 12th from 2-4:30pm at 10 Barrel Eastside in Bend Oregon for an interactive workshop on cybersecurity. This event is free and a great way to bolster your cybersecurity knowledge in this dynamic landscape!
Please click the link or scan the QR code below to sign up: Cybersecurity & Cyber Resiliency Workshop Registration, Tue, Nov 12, 2024 at 2:00 PM | Eventbrite
