Last week, several hacks have been targeting the corporate entities. As grim as it may sound, the executives haven’t stood idly. Today, we’re going to look at what cyber security measures each of them have decided to pursue.
Google has installed a hardware-backed authentication system that takes advantage of the cryptography technology in order to protect the users who are considered to be at-risk. This includes politicians, executives, and others. We are still waiting for additional details from Google, but the company is working on upgrading the two-factor authentication that was first seen with Google Authenticator.
Aetna believes that even though passwords are industry standard, their lifeline has come to an end. Instead, the company will now be using continuous behavioral authentication based on algorithms. They are planning to take advantage of the new technology in their web and mobile applications.
The people at SAP are moving towards satisfying the requirements for upcoming European Union mandates on data privacy. Reportedly, the company has invested around $350 million to acquire Gigya. SAP will use their customer identity and access management platform to meet the new GDPR and PSD2 regulations that come into effect in 2018.
The consequences of disregarding the new regulations
Simply put, a GDRP violation would result in a fine equal to 4% of the company’s revenue. In SAP’s example, having a revenue of $22 billion, that would add up to about $880 million in fines. In comparison, this is $530 million more than what the company paid to acquire Gigya.