This quarter’s security bulletin from experts Colden Company covers an important part of online identity protection: two-factor authentication. Colden Company especially recommends two-factor authentication on login access to banking sites or any critical web site application.

What are we seeing?

We have seen an increase in bank account breaches in the last month. Imagine the feeling of waking up, checking your bank account and seeing it drained of funds. This has been the reality for too many people and businesses. With the amount of personal data that was stolen in the Equifax breach, we expect this trend to continue toward more breach attempts. It is important to protect your personal as well as business accounts from hackers that intend to steal money from your accounts.

How can you protect yourself and your business?

Colden Company encourages the use of two-factor authentication. Two-factor authentication adds an extra verification step in order to login, typically by sending you a text message or an email with a security code. Hackers would need access to your username/password AND access to your phone or email account in order to access your banking information. This extra layer of security can often thwart an attack.

How can I enable this?

The process of turning two-factor authentication on will vary by banking institution. Most major banks do support these extra security measures and will be able to guide you through the process. The process should only take a few minutes and offers an excellent extra layer of protection.

Colden Company recommends implementing two-factor authentication for your banking sites or any critical applications that may contain sensitive information.

Please contact Colden Company with any questions at (888) 600-4560 or support@coldencompany.com via email.