Staggeringly high numbers prove IAM is a necessity

Staggeringly high numbers prove IAM is a necessity

Identity management and access governance may just be a part of the overall cybersecurity landscape, but managing your identities is a cornerstone of good cybersecurity practice and accelerating your digital transformation - being in control of your identities, gives you the upper hand in doing more with identities.

August 2017: No one can argue with numbers and recent figures showing the state of the identity management and access governance landscape prove this is an area that needs much more attention.

Verizon’s 2017 Data Breach Investigations Report noted that 25% of data breaches involved internal actors and 75% of perpetrators were externals. The report indicates that over 80% of hacking-related breaches leveraged stolen and/or weak passwords and that the most targeted sector is the financial sector, with 24% of all breaches. Healthcare organizations came in second with 15% of breaches and public sector organizations a close third with 12%. The same report from 2015 showed that the public sector reported more incidents than any other in 2015, of which access was a significant part of this.

Leaks undetected for over a week

The private sector is by no means safe home, though, as Thycotic’s 2016 report illustrates that the private sector organizations are doing very little to avert risk. The report notes that 30% of organizations allows accounts and passwords to be shared, 70% of organizations do not require approval for creating new privileged accounts and 50% of companies do not audit the accounts. And according to the Verizon report, 70% of data breaches caused by insider misuse, incredibly, took over a week to detect.

Doing more with identities

A tightening of the industry regulations will likely lead to a shift in these numbers and the EU’s General Data Protection Regulation (EUGDPR) is leading the way in enforcing new rules and regulations – and introducing fines so high that organizations are finally listening to the risk factor. Having control of your identities not only ensures you are compliant, it also allows you to do more with your identities and use it as a business advantage in your digital transformation of business processes.

Find out how Omada can help you do more with your identities here.

 

 

 

 

 

Prepare for the EU GDPR: 8 Steps to reduce your risk and get in control

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