If you’re not already using multi-factor authentication (MFA) - a verification tool that guides users to access with two or more factors - it’s essential for keeping your valuable business data safe.
Cybercriminal activity is on the rise in Australia and as our lives merge more and more online, so too has their approach. One of the most common types is to trick you into clicking a web link to access then what looks like your online account but is actually your personal and business information.
In response to growing cybersecurity threats, the ATO has enforced its regulations around MFA for software providers like Xero.
MFA is a game changer.
Before entering your account, this security tool requires at least two different factors, something you know (your password) and something you have (mobile device). This second layer of security is designed to prevent anyone else from accessing your account, even if they know your password. In fact, research by Verizon shows that MFA can prevent up to 80% of data breaches.
So if you’re not already using MFA, now is the time to set it up. Each software provider or application will be different but you can read about MFA and Xero here.
Need more information or want to speak to a member of our team, please call us on (07) 5500 0898.
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