What is Two-Factor Authentication and Why is It Important?
Two-factor authentication is a technology that is used in almost any licensed software that allows betting in India. The main purpose for which it is designed is to enhance security. The technology is used in the Parimatch app, which is described at parimatch-app.org.
What is Two-Factor Authentication
The technology involves the use of 2 authentication factors to verify identity. This significantly increases the level of data protection. 2FA eliminates password vulnerabilities and reduces the risk of third parties gaining access to the profile.
An example of using two-factor authentication in the Parimatch app and other programmes is profile authorisation. In order to log in to the account, it is necessary not only to enter a password, but also to confirm ownership of the account with a code from SMS. Many apps use biometric authorisation. The user has to put a finger on the phone, scan his/her face to log in to the account.
Varieties of Two-Factor Authentication
2FA is implemented in different ways. Let’s consider which of them are used in applications of companies that accept bets.
Texting
SMS-based 2FA involves sending one-time codes to bettors on their phones. The method is based on the ownership factor – the user confirms that he or she owns the number that is linked to the account. Such 2FA is the most popular because it is easy to implement.
Despite its widespread use, this method entails certain security issues. For example, hackers can organise an attack to replace a SIM card, intercept SMS. Fraudsters take advantage of network vulnerabilities to redirect messages. Delays in sending SMS reduce the usability of the software.
Push Notifications
Such authentication involves the use of software that generates one-time codes or tokens. Such applications function autonomously, independent of mobile communications. They exclude vulnerabilities associated with the risk of SIM card replacement and send push notifications to bettors. Clicking on the received notification confirms authorisation in the profile.
Biometrics
Biometrics applies various biocharacteristics like fingerprints, face scan, iris scan for authentication. This 2FA guarantees the best level of data security. Fraudsters will not be able to access someone else’s profile, even if they get hold of the account holder’s phone number.
Advantages of Two-Factor Authentication
The use of technology has become the standard for modern sports betting applications in India. Let’s look at the key benefits of 2FA.
Increased Protection against Burglary
Passwords can be compromised using a variety of methods. Fraudsters use:
- Phishing;
- Matching method;
- Database hacking.
Two-factor authentication adds a new layer of protection. To gain access to someone else’s profile, a fraudster must take possession of the owner’s smartphone or biometrics. This makes hacking virtually impossible.
Reducing the Likelihood of Phishing
Phishing is a social engineering technique in which fraudsters fraudulently take over someone else’s authorisation data. Even if the hacker learns the password in this way, he or she will not be able to authorise. This reduces the effectiveness of phishing, significantly reducing the likelihood that personal information will be compromised.
Password Protection
Automated attacks, such as password mining, lose much of their effectiveness if 2FA is used. The hacker will not only need to find the password, but also to gain access to an additional authentication factor. As a result, the brute force method becomes virtually useless.
High Level of Bettors’ Trust
When an application uses 2FA, users are more confident that their data is securely protected. This advantage is particularly relevant now that hackers are developing new methods to break into other people’s profiles.
Reducing the Risk of Information Leakage
The use of two-factor authentication minimises the risk of attackers stealing personal and financial data and harming the user because of it. Thanks to this, bettors can safely make payments in the application.
What Security Practices are Used in Applications in Conjunction with 2FA
Two-factor authentication is used in conjunction with other technologies in betting programmes. This ensures the highest level of protection of personal and financial information. Let’s take a closer look at what technologies and techniques are used in conjunction with 2FA.
Encryption Protocols
Encryption algorithms are designed for secure transactions. All information transmitted in applications is rendered unreadable, so fraudsters cannot intercept it.
Antiviruses
The applications use anti-viruses that exclude situations when the user downloads malicious files to the device. Antivirus software used in modern applications does not put a significant load on the smartphone hardware, which allows you to comfortably place bets.
Firewalls
Firewalls are designed to filter traffic. The software filters out suspicious sources from which a hacker attack is likely to be launched. This contributes to a higher level of security.
Verification
Any licensed app available in India requires verification to withdraw money. The procedure aims to protect bettors’ finances from malicious users.
Anyone who intends to install the Parimatch apk or another application where you can make predictions should be aware of the peculiarities of two-factor authentication. Follow the basic security rules to further increase the level of data protection.