Since the company sells banking software and payment systems account numbers, cc numbers, and other identifiers are put into “sensitive” fields that are encrypted on our SaaS providers servers. We have a proxy server that decrypts the data in transit at our networks edge. Even the SaaS provider doesn’t have the keys to see these types of fields.
The key is always to make an attacker jump over more than one hurdle to get to anything. It's preferable if those hurdles are as isolated from one another as possible: different systems, different vendors, administrated by different people (multiple social engineering points), etc.
BTW I personally dislike this trend of trusting a single third party 2FA provider for access control to every system. It's incredibly convenient but it gives me the wim-wams. I'm waiting for a story like "Okta announces compromise, tens of thousands of sites may be at risk..." Never trust just one thing no matter what that one thing is.
If they issued 2FA hard tokens, the attacker would have to wait a few days for them to arrive, but they would be allowed in all the same.
Nope. You won't ship keys to some random address - you will do it to the address on file. Presumably, changing address on file would be guarded by rigorous processes.
Verifying the employee's mailing address vs just replying to them over the phone or email sounds like a hurdle. Might not be the same person shipping out the token, so now you have to prove it to two people. Blockers like that.
Especially for remote work - any critical or internal infra should be behind a company-operated VPN, with the VPN-access gated by MFA.
It's obviously not foolproof because the more SaaS you add, the more vulnerable you are, especially because security in HN-land is something you only worry about after-the-fact because it's not MVP or quick to market. But asking for more personal info is perhaps the worst possible conclusion you could take from this.
At some point you have to stop asking your users to take responsibility for your own shoddy security.