Fake messages in the form of deceptively genuine-looking emails, social media messages or other communication channels are sent to potential victims. By exerting pressure or pretending to be a fake identity (e.g. managing director), the attackers manipulate victims into revealing confidential information, which is then used for criminal activities. Very often, phishing involves installing malware and infiltrating and infecting entire company networks. Almost 90% of all companies were victims of such methods in 2023 - and the trend is rising. The amount of damage can quickly reach millions, even for small and medium-sized companies.
One of the most effective methods of protecting against such threats is multi-factor authentication (MFA). Instead of using a username and password to log in, an additional factor is required, without which the login will not work.
There are various methods on the market with varying degrees of effectiveness: these range from one-time passwords to biometric data (facial recognition, fingerprints) or even physical hardware tokens.
The last mentioned is considered one of the most secure methods for multi-factor authentication. An additional level of security is created by means of a hardware token, which is visually similar to a USB stick and must be physically present for the login, for example inserted in the PC. To carry out authentication on the system, the attacker would have to hold the hardware token in their hands, know the associated PIN and insert it into the system. This makes it almost impossible for the attacker to attempt to hack the system remotely.
Compared to software-based authentication methods, a hardware token offers the advantage that it must be physically inserted. The situation is different with authentication apps that provide one-time passwords: OTPs are susceptible to man-in-the-middle attacks, can be misused by hackers for phishing or can simply be communicated to the attacker personally.
