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Unless you disable legacy authentication in your Office 365 implementation, however, you are still at risk.

If you’ve enabled multi-factor authentication (MFA), you might think that you’ve done enough to ensure you are protected. If one set of credentials for a shared mailbox is compromised, it could have a wide impact on the company. Small businesses often set up shared mailboxes that are used for various functions. Attackers will go after weaker credentials and passwords to gain network access.