While multi-factor authentication (MFA) is a much-needed addition to an effective cyber defense strategy, it is by no means foolproof. Organizations must view MFA as another layer of security that helps mitigate against the risk of potential compromise. AI and ML through powerful cloud-based environments is allowing more organizations to access high-performance computing features which creates additional opportunities to benefit from real-time data analytics. It is estimated that 91 percent of all cyberattacks ‘ mostly ever-increasing ransomware attacks ‘ begin with spearphishing, the global cost of ransomware recovery will exceed $20 billion in 2021.
Source: https://www.helpnetsecurity.com/2021/07/13/mfa-strategy/