22 accounts are hacked in Australia every minute. Bond mandates the implementation of Multi-factor Authentication (MFA) or otherwise known as Two Factor Authentication (2FA) for all clients.
Bond takes security very seriously. We follow the highest industry-standard security measures in place and closely follow the advice from Microsoft for robust software protocols.
You may be familiar with Multi-factor Authentication (MFA) when accessing your banking apps, MyGov and many others. A one-time code is sent to the users mobile device and then entered to authenticate the user.
We believe that this should be the standard now for providing your members access to their portals.
The rise in phishing, scam SMS and other attempts to compromise your data, the addition of MFA to your software products should now be mandatory.
It also comes with some silver-lining, we can finally eliminate the dreaded forgotten password process, moving to one-time codes negates the requirement for this and increases the overall data integrity of your platform.
In addition to the MFA for members, we implement an authorisation app such as Authy to gain access to your Bond administration area. The use of a username and password is no longer sufficient and requires the extra layer of security to gain access to your Bond and its data.
Given the rise of these attacks, we strongly encourage you to put this in your priority list. If you have any questions, Bond is here to support. We would like to make a time to meet with you to discuss your options as we are sure you will have many questions about the impacts the above recommendations may have to you and your organisation.
Further information from Australian Cyber Security Centre 2022 Cyber Threat Report