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Cybersecurity statistics / MFA

Only 28% of the MFA used for workforce authentication in financial services is phishing-resistant.

PublisherSecret Double Octopus
Report2026 State of Identity Security in Financial Organizations
Published8 July 2026
TopicsMFA, Phishing, Identity Security, IAM, Financial Services

Published by Secret Double Octopus in 2026 State of Identity Security in Financial Organizations, 8 July 2026. The figure is taken from the report as published; the full methodology is in the source.

View the original report

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51% of IAM leaders and stakeholders cite the inability to support legacy apps and infrastructure as an obstacle to universal phishing-resistant MFA.
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SaaS applications in financial organizations are protected by MFA at a rate of 74%.
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53% of IAM leaders and stakeholders cite cost and budget constraints as an obstacle to universal phishing-resistant MFA.
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Legacy systems in financial organizations are protected by MFA at a rate of 50%.
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79% of IAM leaders and stakeholders cite technical or architectural complexity as an obstacle to universal phishing-resistant MFA.
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Only 23% of third-party organizations fully remediated missing or improperly secured multifactor authentication (MFA) on their cloud accounts, with 50% of all findings being resolved within a month.
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