Two Factor Authentication Enabled Compliance Software

Securing corporate data continuously evolves in the compliance industry.  Now, people all over the world can access compliance data from several types of devices whether located at work, home, coffee shops and on the road. The traditional log in with a username and password is not always enough. That's why the two factor authentication strategy was created.

BasisCode Compliance's two-factor authentication helps secure your data, protect users, address compliance requirements for the protected data, and makes it easy for your users.

The BasisCode Compliance solution offers multi-level security and flexible options for the entire corporation. You have the ability to choose three different methods of receiving a dynamically one-time code to log in. The following options are available at no cost to you.

Custom Delivery Methods

  1. Text - Have a text message sent to your phone. This is the recommended option.
  2. Email - Have your one-time code sent to an email address.
  3. Voice - Have the system call your phone with a code to enter.

Custom Frequency Options

We all love options and convenience. Therefore, you can determine when someone is presented with the two-step verification process. Adjust your corporate settings with the following options:

  1. Check on each login - Every time someone logs in, they must enter the special code.
  2. Check when logged in from a different location - If your users frequently travel, work from home, or anywhere, enable this option for more protection.
  3. Check periodically (days) - Keep your data secure by making users periodically use the two step process.

 

Regulatory Authority Advice

For advice from the SEC, take a look at the following, "Investor Bulletin: Protecting Your Online Brokerage Accounts from Fraud"

The US Department of Health and Human Services also recommends two-factor authentication for HIPAA compliance in the article,  HIPAA Security Guidance.

 

What is Two Factor Authentication (2FA)?

Two-factor authentication (also known as 2FA) is a technique of verifying a person's identity by using a combination of two different items. In the case of accessing online sites, these two items are typically a username/password combination in addition to a one time, non-reusable code.

2FA is a version of multi-factor authentication (MFA). MFA is a computer access technique where a human is allowed access after successfully providing more than 1 type of evidence to an authentication mechanism    typically at least two of the following categories: knowledge (something they know), possession (something they have), and inherence (something they are).