The online accounts, data and information protection has always been a major concern for all the authentic end users worldwide. With malicious attacks or security threats increasing at an alarming rate these days, compromises in the internet security have become more threatening than ever. Being an end user, you need to do everything i.e. put every possible step to ensure that your online accounts and sensitive data are protected from all sorts of cyberattacks. The hackers are using the latest technologies to find your valuable online accounts login credentials. So, you need to be one step ahead of them (hackers) to make their task tougher, or impossible, to accomplish successfully.
One powerful method that provides a strong defence against all types of security breaches on your online accounts, or blocks unauthorized access, is Two Step Verification security method.
What is Two Step Verification?
Two Step Verification (TSV), as the name suggests, introduces a second step to your login. It provides an extra layer of security to the sign in process for verifying identity of the user. TSV security method requires you to enter a time sensitive unique verification code after you enter your username and password combination. The unique verification code or OTP (One Time Passcode) is sent to the registered mobile device of the user, and is valid only for a few seconds. This security method is also referred to as Two Factor Authentication, or simply 2FA.
Once Two Step Verification method is enabled on your online account, you are required to enter an additional piece of information to prove your identity, after entering the secret password. This will prevent unauthorized users from accessing your account even if they have obtained your login credentials.
Possible authentication factors used in Two Step Verification
The knowledge factors (something you know) – username, password, PIN.
The possession factors (something you have) – credit & debit card, mobile phone.
The inherence factors (something you are) – biometrics like iris, retina, face scan, fingerprint, voice recognition.
Why use Two Step Verification?
The main reason of using Two Step Verification is that the state of the online accounts and data security is changing continuously. Hackers are getting more and more advanced when trying to hack your secret login credentials, and the old security methods won’t work any longer. Today, strong passwords and security questions simply aren’t the ultimate security solutions they used to be earlier. Two Step Verification has been successful in securing compromised accounts even when the secret password has been stolen. By requiring an additional source of verification before logging into your online account, this security method makes it harder for those users who have access to your password to get inside your account and do any real damage.
Two Step Verification is a more secure solution than just passwords. It works by requiring two different methods to authenticate yourself. Cash withdrawal through an ATM is the example of Two Step Verification. For withdrawing cash, you need your card (something you have) and a secret 4-digit PIN (something you know). If you lose your card, your money is still safe. Anyone who finds your card will not be able to withdraw your money, as they do not know your PIN. The same is true if they only have your PIN and do not have the card. An attacker must have both to compromise your ATM account. This is what makes Two Step Verification method so much secure; you have two layers of security.