Multi-Factor Authentication Vulnerability Warning

Multi-factor authentication (MFA) is an effective way to strengthen protection against unauthorized access to digital banking and email accounts. However, bypassing MFA methods can be accomplished. The following are some of the MFA bypass methods that threat actors may try.

Potential MFA bypass methods:

• Phishing attacks: Cybercriminals generate emails that direct users to fake login pages that look like legitimate login pages and trick users into entering their credentials. The attacker can then use these credentials to gain access to the member's account.
• Social engineering: Attackers can use social engineering techniques to trick members into revealing their MFA codes. For example, an attacker may pose as a legitimate support agent and request the members MFA code under the pretense of troubleshooting an issue.
• SIM swapping: Attackers can contact a victim's mobile carrier and convince them to transfer the victim's phone number to their SIM card. Once the attacker has control of the victim's phone number, they can use it to bypass the MFA on the victim's accounts that rely on SMS codes.
• Man-in-the-middle attacks: Attackers can intercept the communication between the member and the authentication server and redirect the user to a fake login page. The attacker can then use a member's credentials to gain access to the member's account.
• Brute-force attacks: Attackers can use automated tools to generate many possible codes until they find the correct one. This technique can be effective against weak MFA codes if the attacker has access to a member's device.

We recommend members to be aware of such attack vectors, be cautious and report any suspicious activity on your accounts immediately to Provident Credit Union at (800) 632-4600.