DVELP CEO Tom, joined Ed Dowling, the Product Manager for Account Security at TransferWise and Simon Thorpe, the Director of Products at Twilio, for a webinar last Wednesday. This panel of experts discussed the benefits of 2FA and the paramount importance of cybersecurity for any business, large or small. We tackled a number of issues and there were a few key takeaways that we believe will give your business the best chance to succeed and protect itself.
Ed Dowling (L), from TransferWise, and Tom Mullen (R), from DVELP
The business impact of account takeover or fraudulent activity won’t only harm large FSTE 100 companies. ¾ of British SMEs suffer security attacks, therefore startups should be wary of the “it won’t happen to us” mentality. It will probably happen to you.
Aside from the immediate financial loss, there are numerous other ‘hidden’ costs of cybercrime:
With the understanding that no system is impenetrable, you can mitigate risk via preparation. If you know what to do when it happens, the collateral damage will be reduced by orders of magnitude.
Therefore, 2FA is a very useful, easy and cost-effective first defense for many SMEs. This can be SMS 2FA, or the more sophisticated app based 2FA, which authenticates through push notifications. To read more about 2FA and its benefits, head over here.
Moreover, installing technology like 2FA, alongside the implementation of security audits and the integration of a security culture among your team, will allow you to prevent attacks, rather than having to scramble to protect.