Over 561 million data records were compromised worldwide in 2013

Written by Rachael Dallas, Wick Hill’s VASCO Product Manager. Every day I login to various web pages for a multitude of reasons; information, emails etc but mainly shopping….. I am...

Written by Rachael Dallas, Wick Hill’s VASCO Product Manager.

Every day I login to various web pages for a multitude of reasons; information, emails etc but mainly shopping….. I am a girl after all!

Behind each login is information I view as highly sensitive and could impact my life on a large scale if someone was to guess/hack my static passwords (yes even I STILL have static passwords…. through no choice of my own, believe me!).

Although I am only 1 drop in the ocean, with information which is of no value to anybody else (no millions of dollars or MI5 secrets), some companies hold whole oceans of this stuff and still rely on static passwords to keep it safe.

Static passwords are weak, we all know that and putting rules in place to make them stronger doesn’t help but what I think people miss is the impact a cyber-attack will have on your business as a whole.

Your customer’s lose faith in your service, costing you millions in lost sales. I was an eBay addict and purchased virtually (excuse the pun) my entire wedding through their site but after the hack they suffered in February I have been reluctant to use.

Fines. The company could face up to £500,000 worth of fines from The British Information Commissioner’s Office.

Your Reputation. Its takes years to build up a reputation where your customers are your biggest marketing tool. Something as large as this and they will go from recommending you to steering potential customer clear!

Network Security Compromised. Down time to rebuild your network security could be several days and impede working capabilities for your staff.

Intellectual Property Loss. I would be extremely cheesed off to say the least if someone managed to get the details to my multi-million dollar invention, how would you feel??

All of these things can be so easily avoided at a fraction of the cost! 2FA remains one of the most cost effective solutions to protect against the loss of critical data. Not to mention your technical department will be singing your praises for ever more. They will be able to forego the soul destroying task of resetting passwords all days.

Over 561 million records were compromised worldwide in 2013, including financial and personal data, which is 22% higher than the number of leaks registered in 2012. And that is only what became publicly known, which is at most 8% of the estimated total number of leaks.

VASCO is the world leader in providing two-factor authentication and digital signature solutions to financial institutions. More than half of the Top 100 global banks rely on VASCO solutions to enhance security, protect mobile applications, and meet regulatory requirements. VASCO recently celebrated selling its 200 millionth DIGIPASS Authenticator.

“Global criminal hacking organizations pose a growing threat to our banking and enterprise customers as attacks become more frequent and utilize more sophisticated methods,” stated Jan Valcke, President and COO of VASCO. “Our next generation solutions are remarkably innovative with features such as intelligent decision engines and high-resolution QR codes to keep the user experience very friendly as we integrate more powerful security protections.”

It’s so easy! It’s so cost effective! VASCO will integrate into any security environment and will even allow you to visually change the user facing elements so your customers think you are the smart cookie! I wish my favourite Boutiques would do M.O.R.E with VASCO! www.wickhill.com/vasco

 

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