Intelligent CIO APAC Issue 16 - Page 40

With a high percentage of cyberattacks starting with bad actors gaining access to corporate networks after stealing someone ’ s identity credentials , we asked Richard Bird of Ping Identity and
Tony Cole of Attivo Networks about the value of Identity and
Access Management . shouldn ’ t be able to take . In 2020 , the US lost more than US $ 86 billion worth of unemployment benefits to fraudsters ; bad actors who figured out how to get inside and then look and act like qualified unemployment recipients .
The management and execution of a well-rounded cybersecurity program where identity is placed in the center can help reduce breach frequency .
What are the potential pitfalls of not deploying an effective Identity and Access Management solution ?


Why is it important for enterprises to deploy an effective Identity and Access Management solution ?
Eighty-five percent of cybersecurity breaches that have taken place over the past year are a result of a human element according to the Verizon 2021 Data Breach Investigations Report .
This all starts with bad actors gaining privileged credentials by using someone else ’ s identity . Those credentials could have belonged to someone who once worked at the company . Once they got inside , they collected additional credentials and used them for nefarious purposes .
Virtually every breach in the last 20 years can be traced back to an exploited weakness in Identity and Access Management .
Bad actors capitalize on exposed privileged credentials to execute supply chain attacks and fraudulent account takeovers , to lock up assets and deliver ransomware payloads , to facilitate business email compromise and to damage , destroy or take over operational technology .
Failing to deploy an effective Identity and Access Management program and solution is currently driving losses across industry verticals that total in the billions every single year . Additional costs include loss of brand reputation and trust , customers , technology , employees and productivity .
How can CIOs ascertain if an Identity and Access Management solution will suit their business ?
Bad actors leveraging compromised credentials are hard to find as they look like they belong . Once they are ‘ inside ’, they can easily take things they
A CIO should categorically refuse to adopt any solution that simply focuses on access administration . Access administration is a technology supported business

On the inside : Stopping bad actors gaining privileged credentials

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