In today’s digital world there are a large number of organised and well funded cyber criminals focused on breaking into company networks, stealing passwords, and gathering sensitive data for financial gain or to wreak havoc.
Identity theft with the intent to commit fraud is on the rise, with a variety of methods used including exploitation of easy to crack passwords, and phishing.
According to APWG’s Global Phishing Survey, there were more than 115,565 unique phishing attacks worldwide in the last six months of 2013, an increase of nearly 60% compared to the 72,758 seen in the first half of the year.
Of these, 681 were targeted institutions, and almost half of them were not phished in the first half of 2013.
The report concluded: “This is an unusual amount of “churn” or turnover, and shows phishers trying out new targets. They appear to be looking for companies that are newly popular, have vulnerable user bases, and/or are not ready to defend themselves against phishing.”
As more and more organisations move their operations online to meet user expectation of completing day-to-day tasks on the run, providing that service while ensuring their sensitive information remains completely secure remains a challenge.
Modica’s two-factor authentication (2FA) solution provides extra defence against unauthorised access to a myriad of digital systems by incorporating something users know – their password, and something they already have – their phone. By connecting your system to the Modica 2FA API you quickly and cost effectively have the ability to add a seamless layer of security to logins, major transactions, and profile and account setting changes.
The beauty of 2FA is its simplicity. Our experienced team and simple API means your new, simple yet secure service will be ready for roll out to users within two – four weeks.
The global ubiquity of SMS makes implementation easy for users, who don’t have to remember a whole raft of extra passwords, nor are you sending them expensive unique code generators.
The 2FA process begins when a user interacts with a part of your system requiring user authentication or system approval. Your system automatically sends an authorisation code to a pre-determined mobile device and then prompts the user to enter that on screen allowing them to complete their transaction – or alerting them that someone else is attempting to access their account.
Modica’s 2FA solution is being used across a range of industries, including financial institutions, Healthcare, Government, and retailers for securing access, confirming high value transactions and managing opt in approvals to mailing lists and competitions.
With more than 10 year’s experience in mobile and ISP operations around the world, our 2FA solutions come with expert assistance, 24/7 support and real-time reporting.