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Why Apple’s improved 2FA protection matters to business

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Apple has introduced a new layer of protection to its existing two-factor authentication (2FA) system, making it a little harder for phishing attacks to successfully steal valuable authentication credentials.

Given that Apple, PayPal, and Amazon were the top three brands used for successful phishing attacks last year, according to a recent Jamf report, this matters.

Phishing costs billions and is bad for business

Phishing is a huge problem. The scale of these attacks shot up during the pandemic. The FBI Internet Crime Report 2020 revealed that phishing attacks affected 241,342 victims in 2020, up from 114,702 in 2019, with adjusted losses of more than $54 billion. Verizon’s 2021 Data Breach Investigations Report confirmed that 36% of data breaches that year involved phishing.

That Jamf report confirmed threat actors to be targeting work-focused cloud services such as Office 365 or Google Workplace to penetrate overall enterprise security. No surprise that Apple users are targets, given that Apple is on course to becoming the most widely deployed enterprise tech hardware.

It’s easy to dismiss phishing attacks based on the utterly unconvincing attacks most people frequently find in their in-box. That’s unwise. While some attempts may be stupid, the ones that succeed most are smart enough to exploit existing security protections.

Some are highly targeted, socially engineered attacks aimed at individuals or people from a certain firm. Using a combination of target research and convincing fake communications, criminals seek to undermine the security of their targets.

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