Why Phishing-Resistant MFA Is No Longer Optional: The Hidden Risks of Legacy MFA
Oct 24, 2024
Ransomware / Generative AI
Sometimes, it turns out that the answers we struggled so hard to find were sitting right in front of us for so long that we somehow overlooked them. When the Department of Homeland Security, through the Cybersecurity and Infrastructure Security Agency (CISA), in coordination with the FBI, issues a cybersecurity warning and prescribes specific action, it's a pretty good idea to at least read the joint advisory. In their advisory AA24-242A, DHS/CISA and the FBI told the entire cybercriminal-stopping world that to stop ransomware attacks, organizations needed to implement phishing-resistant MFA and ditch SMS-based OTP MFA. The Best Advice I Never Followed This year, we have experienced an astonishing surge in ransomware payments, with the average payment increasing by a staggering 500%. Per the "State of Ransomware 2024" report from cybersecurity leader Sophos, the average ransom has jumped by 5X reaching $2 million from $400,000 last year. Even more troubling, RISK &...