Skip to content
Search
AI Powered
Latest Stories

Over half of businesses encounter cyber breach despite multi-factor authentication

Over half of businesses encounter cyber breach despite multi-factor authentication
Photo: iStock
Getty Images/iStockphoto

Over half of UK businesses experienced a cyber breach in 2023 despite an overwhelming majority having deployed multi-factor authentication (MFA), a new study has revealed.

An independent survey of more than 500 IT and cybersecurity professionals within UK businesses, commissioned by cyber security firm IDEE, found that 95 per cent of businesses have deployed some form of MFA, the method of verifying a user's identity that requires more than just a password.


However, 56 per cent of the businesses surveyed said they had experienced a cyber breach last year, with 26 per cent experiencing three or more breaches in the past 12 months alone.

In addition, while 46 per cent of cyber professionals described their MFA solution as ‘highly effective’, half (50%) said it is only ‘somewhat effective’.

“There is good MFA, and there is bad MFA. Worryingly, judging by the 50 per cent of MFA users describing their solution as merely being ‘somewhat effective’, UK businesses are putting far too much faith in bad MFA,” Al Lakhani, chief executive of IDEE, said.

“It beggars belief. Cyber breaches cause huge operational, financial, and reputational damage, so why are businesses not taking steps to address the weaknesses that their current solutions so obviously have? It’s like leaving your front door open when you go on holiday – you’re practically begging criminals to come into your house to steal your data or take over your accounts.

“The clock is ticking – it’s time for businesses to deploy authentication methods that can mitigate password-based, credential phishing and adversary-in-the-middle cyber threats that leverage ‘credentials’ as the initial access vector. This means investing in solutions grounded in strong digital identity proofing and transitive trust, in turn allowing businesses to improve their security and productivity with minimal time and resources. Let’s hope this data shocks a few more organisations into much-needed action.”

Headquartered in Munich, Germany, IDEE is the technology company behind AuthN, a client-less, passwordless MFA that can be deployed in minutes across the entire estate.

More for you

Police officers in Trafalgar Square, London

Police officers in Trafalgar Square, London

Photo: iStock

New Respect Orders to target repeat perpetrators of anti-social behaviour

The government on Friday announced that they will introduce new Respect Orders as part of the Crime and Policing Bill.

The measure, a modernised version of the anti-social behaviour orders that were introduced by the last Labour Government, is aimed at the most serious offenders who plague town centres and neighbourhoods with anti-social behaviour.

Keep ReadingShow less
Exclusive: 'Faulty' pre-Horizon Post Office system led to hundreds of prosecutions

Exclusive: 'Faulty' pre-Horizon Post Office system led to hundreds of prosecutions

Ecco+, another pre-Horizon IT system that was introduced to post masters between 1992 and 1999, was also likely to be faulty due to which hundreds of sub post masters were prosecuted by the Post Office, a leading sub postmaster representative has said.

Speaking to Asian Trader today (22), Calum Greenhow - Chief Executive Officer at National Federation of Sub Postmasters (NFSP) stated that Ecco+ system that was introduced between 1992 and 1999 also created problems for sub post masters.

Keep ReadingShow less
Bestway Foundation UK donates £100,000 to The Duke of Edinburgh’s Award

Bestway Foundation UK donates £100,000 to The Duke of Edinburgh’s Award

Lord Zameer Choudrey CBE SI Pk, Chief Executive of Bestway Group, and Dawood Pervez, Managing Director of Bestway Wholesale, presented a cheque for £100,000 to The Duke of Edinburgh’s Award (DofE) at Bestway Group’s Head Office in Park Royal, London last week.

This significant contribution reflects Bestway's ongoing commitment to supporting impactful charitable initiatives that make a difference to the lives of young people across the UK. The presentation was attended by Ruth Marvel OBE, Chief Executive Officer, Laura Puddefoot-Knaggs, Head of Philanthropy and Clare Harris, Senior Relationships Manager from The Duke of Edinburgh’s Award, and Bestway Board of Directors, including Sir Anwar Pervez OBE H Pk, Chairman Bestway Group.

Keep ReadingShow less
GroceryAid: supporting grocery colleagues over the festive season

GroceryAid: supporting grocery colleagues over the festive season

As we head into the busiest time of the year for the grocery industry, GroceryAid is urging people to reach out to them if they find themselves struggling.

The charity helps grocery workers and their families through difficult times and offers a range of financial, emotional and practical support. This includes support for people facing stress, anxiety, low mood or loneliness, as well as debt advice and impartial financial support through GroceryAid’s online financial hub.

Keep ReadingShow less
Sugro UK partners with Britvic to launch industry-first sample box

Sugro UK partners with Britvic to launch industry-first sample box

Leading wholesale buying and marketing group Sugro UK has collaborated with Britvic Soft Drinks, a global organisation with 39 much-loved brands sold in over 100 countries, to launch a groundbreaking Fast Food Sample Box.

The sample box is specifically designed for ICS UK LTD customers, giving them a unique opportunity to sample and experience new Fast Food soft drinks offerings firsthand.

Keep ReadingShow less