“MFA (Multi-Factor Authentication) is good and everyone should use it where they can to protect valuable data and systems (says security expert Roger A. Grimes.) Unfortunately, the insurance industry and their customers are going to learn that using ANY MFA is not going to be as helpful in reducing risk as they thought. Unfortunately, about 90% to 95% of MFA is as easily hackable as the passwords they are intended to replace,”
Grimes predicts the insurance industry will soon learn the limitations of basic MFA, which needs to be upgraded to “phishing-resistant MFA.”
Source: MFA Will Not Save the Insurance Industry