Stay Financially Safe With Two-Factor Authentication

We know two-factor authentication can seem like a hassle, but this extra layer of account security is key for protecting your finances.

Story by John Martin

When it comes to managing your finances online, security is the name of the game. The reality is that passwords alone are not as safe as they used to be. Every year, cybersecurity threats become more sophisticated.

That’s why TCDRS and countless other financial institutions use a feature called two-factor authentication (2FA). This extra layer of security helps protect your online account from malicious hackers.

How does 2FA work?

2FA helps verify the identity of the person attempting to sign into an online account by requesting two things that only the account holder themselves should have: something you know (your password) and something you have (a phone).

In order to sign into an account with 2FA enabled, you must first provide your standard username and password. Then, you will receive a prompt to choose your preferred 2FA method.

When you sign into your TCDRS.org account, you can choose whether you would like to receive your passcode via automated phone call or text message.

How do I make the process less of a headache?

While 2FA does require more information from you when you sign into your TCDRS.org account, the few moments you spend typing in that code could save you from dealing with a much bigger headache in the future.

Even if a fraudster guessed your username and password, they would have no way of retrieving your 2FA code to complete the sign-in process. Indeed, according to a study conducted by Microsoft, “Multi-Factor Authentication can block over 99.9 percent of account compromise attacks.”

In other words, with 2FA protecting your TCDRS account, you can relax and enjoy your retirement, knowing your financial future is safe and secure.

Leah Golden contributed to this article.

Personal Finance