What you should know about two-factor authentication

What is two-factor authentication?

You’re likely already using it but may not know it by name. Let’s break it down. In the world of security, “authentication” means confirming it’s really you logging into your accounts. A username and password are the most common way. But what if someone obtains your password? Well, that’s where two-factor authentication comes in. Simply put, it means you use a second way to prove you’re you when accessing your online accounts.

This is common practice, so you’ve likely encountered it before. When you’re asked to enter a one-time code after entering your username and password, that’s two-factor authentication.

It’s necessary, even if you use complex passwords.

Even when you choose complex passwords, two-factor authentication adds more protection. It’s a required step for your Bank of Missouri online banking account. However, there are many times an app or website has it available but not turned on by default. Always check if two-factor authentication can be turned on.

Your email may be a key account that’s missing this extra layer of security. If it’s been some time since you created your account, the feature may not have been available then. This is risky because access to your email account could allow criminals to reset your password for other accounts. Protect your email by enabling two-factor authentication.

It’s important to protect your phone, too.

Two-factor authentication is often tied to your mobile device, whether you receive a text, automated call or use a dedicated app for your passcode. That means it’s important to protect your phone as well.

Make it difficult for someone else to get your phone and the data on it. Protect your phone like you would cash. Don’t leave it lying around for others to easily pick up.

Even if you’re careful, your phone could end up in the wrong hands. Make sure your phone requires additional security to log in, such as facial recognition.

Two-factor authentication should be combined with other security measures to keep your online banking account safe.

Your online banking account is protected with two-factor authentication. But that doesn’t mean you shouldn’t make other efforts to protect your account.

• Never share your user ID or password with anyone. The Bank of Missouri will never ask you for this information.
• Be suspicious of anyone who calls you asking for this information or anyone who “requires” it to offer you money or a loan.
• Use the latest version of your phone’s operating system and your internet browser.

Don’t log into your bank account on unsecured public Wi-Fi connections. If you’re using a public computer, always clear the browser cache and close the browser window when finished.

No single security measure is 100% safe. However, having two-factor authentication in your security toolkit makes you less vulnerable to criminals and their ongoing attempts to separate you from your money. Visit our Security Center for more ways to prevent cybercriminals from accessing your accounts.