Securing your business’ network and data can be a bit costly and time-consuming. A breach however that exposes your data, proves to be significantly more expensive, internet company Yahoo! has experienced the hard way.
Large data breaches
Yahoo! was bought by Verizon in a deal worth almost 5 billion dollars. But Yahoo! suffered two large data breaches in 2013 and 2014, which left a billion accounts compromised. Verizon and Yahoo agreed to shave 350 million dollars from the prize that Verizon was about to pay for the internet company.
Yahoo! suffered the largest breach in history. Through this, not only did Yahoo! loose 350 million dollars in the Verizon acquisition, a data breach also comes with a severe damage in the company’s reputation.
How did it happen?
Yahoo! is of course the ultimate example in data breaches that happen daily, all over the world. Yahoo! Chief Information Security Officer Bob Lord stated that the company hasn’t been able to track down the reason of the breach. “We believe an unauthorised third party, in August 2013, stole data associated with more than one billion user accounts. We have not been able to identify the intrusion associated with this theft.”
In his statement Mr. Lord urges users to start using the Yahoo Account Key which transforms a user’s smartphone into a security device through two-factor authentication. 2FA secures login sessions with an extra password sent to another device than the one being used to login. It’s easy to setup and has a proven track record.
At Mobile World Congress 2017, CM will be launching a new product called CM Authenticator. CM Authenticator is helping enterprises by verifying the identity of their users with cutting edge technology by making the process of securing an online environment as simple, efficient and stress free as possible.
CM Authenticator offers mobile services that help you identifying your customers by adding an extra factor of authentication via the mobile phone. When a user tries to login on your environment, the extra authentication will be presented to verify their attempt. The user can approve or deny this request instantly and securely via the CM Authenticator app on their smartphone. If there is no app available, an SMS can be received instead. Once the attempt has been approved, the user can then safely proceed.
Reach out to the people working with CM to learn more about Authenticator