Data rooms hold super sensitive data. Unauthorised access could be disastrous. Strong cybersecurity means less worrying over people seeing something they shouldn’t, or sending things to people who shouldn’t see them…
What is it?
MFA (Multi Factor Authentication) aka 2FA (2 Factor Authentication) – (computer geeks do love their acronyms!) works by adding an extra layer to your login process. You enter your password as normal, and are then prompted to enter an additional code.
Once you’ve got your code you can then log in as normal. Because the code is often sent to a device (e.g. phone/tablet/laptop) in your possession, it means a cybercriminal needs physical access to that device to log in. This means even if someone cracks your password, without your MFA code, they can’t get into your account.
What can I do?
Use MFA where possible. We’ve already turned MFA on for your Projectfusion data room – it’s the default setting – so don’t turn it off!
Also, where possible, make sure you grant access to everyone using their work email address. This means if they change job while your deal is running, they will lose access automatically. See our post on 3rd party leaver threat for why this works.
Why use it?
In general, passwords are weak. MFA is much harder to crack. As codes are unique each time you log in, this decreases the likelihood of unauthorised access.
M&A deals are at high risk of accidental and deliberate leaks – using MFA greatly improves your security and protects your deal.