To enhance the security of Allan Gray Online (AGO) and help our clients better protect their personal and investment information, we will soon introduce multifactor authentication (MFA) to all AGO investment accounts. MFA adds an extra layer of protection, helping to prevent unauthorised account access, even when login credentials have been compromised. Renita Govender explains.
At present, clients log in to their AGO accounts using two-factor authentication. They are required to log in with a one-time password (OTP) sent via SMS to their mobile number (or via email) in addition to their AGO password. Over the next few months, we will be rolling out MFA, which will eventually become mandatory for all AGO users. The new MFA solution will require clients to verify their identity with at least two authentication factors when logging in to AGO.
What are the benefits of multifactor authentication?
MFA strengthens the security of online accounts. Instead of relying on SMS authentication (or a fallback email option) to keep accounts secure, MFA requires users to verify their identity using push notifications or time-based OTPs generated by a registered mobile device. These login methods significantly reduce the risk of users falling victim to cyberattacks, such as phishing and hacking, even when their SMSs and emails have been intercepted.
MFA also streamlines the login process and reduces the reliance on SMS OTPs, which are often hindered by poor network connectivity and roaming. By registering for MFA, AGO users can feel more confident that their personal and investment information is protected by multiple layers of authentication.
How to register for multifactor authentication
Clients can register for MFA by logging in to their AGO accounts and following the prompts.
To complete the registration process, clients will need the following:
- A mobile device with an active internet connection
- Access to the email address and mobile number on record with us
- An authenticator app, such as PingID, on the mobile device they wish to register (this can be downloaded from the device’s app store)
After registration, the authenticator app on the registered device will be used to verify the user’s identity whenever logging in to AGO. It is important to note that only one mobile device can be registered per AGO account.
Always keep personal details up to date
Having the correct contact details on record ensures smooth MFA registration and seamless login processes.
Clients can review or update their personal details, including their contact details, at any time via AGO by navigating to “Investor details” and then “Edit investor details” under their username in the selection menu.
As cyberthreats continue to evolve, measures to strengthen account security are essential. Transitioning to MFA offers enhanced protection, greater convenience and peace of mind, ensuring that our clients' personal and investment information remains secure.
To learn more about keeping your investments safe, visit our Fraud prevention and cybersecurity page.