MYOB Advanced 2FA
Safeguarding your data with Two Factor Authentication (2FA)
We are happy to announce that MYOB will be soon be implementing two-factor authentication (2FA) functionality into MYOB Advanced to reduce risk and improve security. This will enhance the login process to MYOB Advanced by adding an extra layer of security to ensure only authorised people have access to your data.
What is 2FA?
Two-factor authentication (2FA), sometimes referred to as Multi-factor authentication, is a simple solution to enhance the safety of your data. This is achieved by adding an extra layer of security to ensure people trying to gain access to an online account are who they say they are.
This secure sign-in process works by combining something you know (your password) with something you have (usually your mobile phone or email account).
This helps further increase security for you and your data.
How does 2FA work?
First, you enter your username and password like usual. You are then required to provide another piece of information before you can log in from something you have: Typically, a user would have something in their possession, like a smartphone, a card or access to an email address.
For example, when you go to withdraw money from an ATM, you need your bank card (or phone if you have cardless cash activated), and your PIN number. Here you need both things for the transaction to be completed.
Another example of 2FA: If you have a MyGov account, once you enter your username and password, you then receive a text message on your smartphone which needs to be entered in order to log in to your account.
How will MYOB Advanced handle 2FA?
For MYOB Advanced the process will be as follows: When you use your current username and password, a code will be sent to your smartphone. You enter the code as the next step in the sign-in process and that’s it. you are logged in just like before.
This extra step in signing in goes a long way to ensuring that your data is protected because while someone may be able to guess your password, they will not get far without the 2FA code. Which will be different every time. Please note you will be required to download the Google authenticator or Microsoft Authenticator app from the App Store or Google Play.
Will 2FA be mandatory?
Yes. 2FA functionality will be implemented across MYOB Advanced to:
+ Protect confidential and personal information
+ To improve security by reducing security breach risks
+ Meet current ATO and upcoming IRD security framework requirements
For further information:
For more information on this upcoming feature, keep an eye out for more information in the coming months.