2. RSA Breach Costs Banks A Bundle
Also in March, customers of EMC's security unit RSA were scrambling to protect themselves against a security vulnerability in SecurID tokens, used for two-factor authentication for remote VPN access. EMC said cybercriminals had targeted the flaw in sophisticated attacks against defense contractors and government organizations. Weapons manufacturer Lockheed Martin acknowledged that it was targeted by hackers looking to exploit the vulnerability. EMC said it shelled out $66 million in the second quarter for reparations following the attacks. A Gartner research analyst said the security breach cost the banking industry from $50 million to $100 million to hand out to employees new SecurID devices used to access corporate networks.