Companies in Singapore are leading the implementation of two-factor authentication (2FA) security solutions in the Asia Pacific region.
This is according to a study by cybersecurity software developer ESET that surveyed 1,500 small and medium businesses (SMBs) in Singapore, Hong Kong, Japan, India, and Thailand. It was conducted to better understand the cybersecurity perceptions and activities of SMBs in the region.
Financial education website, Investopedia, defines 2FA as the use of two credentials before being granted access to an account or system. The two credentials can be a combination of the user's password or personal identification number (PIN) and e-mail account or fingerprint.
The survey found that more companies (42 percent) in Singapore have adopted 2FA solutions than their counterparts. Fewer SMBs in Singapore (40 percent) also reported to have experienced cyber breaches due to 2FA.
"It is heartening to see that Singapore is taking strides towards 2FA adoption and strengthening its cybersecurity framework as it advances towards becoming a Smart Nation where almost everything will be connected," said Parvinder Walia, sales and marketing director for Asia Pacific and Japan, ESET.
- Singapore is one of the Asian countries with lowest malware encounter rates
- AXA Insurance data breach exposes personal data of 5,400 customers in Singapore
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