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The importance of 2-factor authentication software

 |  13 March 2023

In today's digital age, data breaches and cyber-attacks have become increasingly common, including invoice scams which are impacting the property industry. Hackers use sophisticated techniques to gain access to sensitive information, leaving businesses vulnerable to fraud, theft, and other forms of cybercrime. To combat these threats, many online services now offer Two-Factor Authentication (2FA). This article will explore the importance of 2FA and how it can help protect your online software accounts. 

What is 2-factor Authentication? 

2FA is sometimes also called multiple-factor authentication. In simple terms, it adds an extra layer of security to every online platform you access. The first layer is generally a combination of an e-mail (or username) and a password. Adding one more step of authenticating your identity makes it considerably harder for an attacker to access your data. If your password is compromised, the attacker still cannot obtain access to your account. 

This drastically reduces the chances of fraud, data loss, or identity theft. 

Why is 2-factor authentication important? 

Protection against phishing attacks 

Phishing attacks are one of the most common ways that hackers gain access to user accounts. In a phishing attack, a hacker sends an email or message that appears to be from a legitimate source, such as a bank or social media platform, asking the user to provide their login credentials. If the user falls for the scam and provides their login information, the hacker can use it to gain access to the user's account or they can also use those details across other software if the user’s login details are the same as the hacked account. 2FA can help prevent this type of attack because even if the user's password is compromised, the hacker would still need to provide the second authentication factor to gain access. 

Enhanced security for sensitive information 

Many online services, such as banking and email providers, contain sensitive information that hackers could use for malicious purposes. By using 2FA, companies can not only safeguard the reputation and financial stability of their organisation, but can also protect the privacy and security of their customers. As cyber threats continue to evolve, it is essential for businesses to continually evaluate and enhance their security measures to stay one step ahead of potential threats.

Increased peace of mind 

Knowing that your online accounts are properly protected can give users greater peace of mind. It can be stressful and time-consuming to deal with the aftermath of a data breach, so taking steps to prevent one from happening in the first place is essential.

Build and maintain customer trust

In addition to preventing sensitive data from falling into the wrong hands, it is crucial to protect your customers’ privacy and data security. Failing to do so can seriously undermine client trust and as a result, businesses risk losing customers, damaging their reputation, and facing legal consequences.

Get started today on enabling 2FA in Re-Leased

There are several different types of 2FA available, including app-based authentication, security key authentication, and biometric authentication. Re-Leased supports both smartphone-based (TOTP) authenticators as well as industry best practice hardware/biometric-based physical authenticators.  

Enabling 2FA is easy and can be done in just a few steps. Simply log in to Re-Leased, go to your account settings and follow the prompts to set up your second factor of authentication. You can choose the method that works best for you, such as an authentication app, physical security token or biometrics

Alternatively, you can refer to our step-by-step 2FA knowledge base article, which also includes an instructional video to guide you through the setup process. 

Please don't hesitate to contact our support team if you have any additional questions. 


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