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  • Writer's pictureNairn Fisher

How to protect your financial information with MFA

As more people around the world embrace digital technologies, the number of cyber attacks continues to increase.

One of the most common types of cybercrime is phishing, designed to access your online accounts and steal your personal and business information.

Multi-factor authentication (MFA) is a simple and effective way to add an extra layer of security. It is a security process that requires users to provide two or more pieces of evidence to verify their identity before being granted access to a system or resource. This additional layer of security can help protect against unauthorised access, even if a password is compromised.

If you are not already using MFA, we encourage you to set it up today. Here are our two top tips:

  1. Add multi-factor authentication (MFA) to Xero

MFA is an extra layer of security that can be added to your Xero account. It requires you to enter a code from your phone in addition to your password when you log in. This helps to protect your account from unauthorised access, even if someone knows your password.

Think of it like putting an additional bolt on the door. It’s a small but important thing that significantly reduces the risk of unauthorised access to your account, because it’s much harder to steal something you know and something you have.

In fact, research shows that MFA can prevent up to 80% of data breaches. The beauty of using your phone as an authentication method is that it’s always with you, which means you can still access your Xero account anywhere, at any time.

2) Add multi-factor authentication (MFA) to your myIR Profile

Did you know that you can choose to strengthen security for your myIR profile by using two-step verification.

If you set up two-step verification, you’ll need to provide a unique security code each time you log into myIR.

You can choose to receive security codes by email or with an authenticator app on your mobile device, or you can set both up.


Further reading:

CERT NZ works to support businesses, organisations and individuals who are affected (or may be affected) by cyber security incidents. They provide trusted and authoritative information and advice, while also collating a profile of the threat landscape in New Zealand.

Read CERT NZ's top tips for simple, practical steps you can take to help keep your business safe from attack >>>


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