New Report Says That 84% of the Organizations Had an Identity Breach in the Past 1.5 Years

Delinea reported that 60% of the firms and companies believe that they’re not keeping pace with the threat landscape. Moreover, 20% of them are lagging in this race, 13% are treading lightly and 27% are barely able to keep up.

A lot of information is also shared about different security strategies and their effectiveness. 40% believe they have the right strategy to counter the cyberattacks, while 84% reported they had a security breach in the past year and a half.

It is also believed that many firms and brands are looking to make changes to their security strategies and make improvements. Moreover, 90% know the importance of security in their business, and 87% that it's their biggest priority for the future year. Furthermore, 75% of security experts and professionals don’t have the support of the company to protect its assets, the organization argues that they don’t have enough budget to accommodate them for their services.

It is also reported that 63% of the companies’ respondents believe that their firms don’t fully understand the importance of cybersecurity. While their leaders save face on the surface, there’s no proper backing up for security analysts and IT experts to implement proper security. This leaves them vulnerable to security breaches and cyberattacks.

This laidback attitude is harming the companies and while this has begun to change, it’s still going to take a lot of time for these companies to fully implement the best cybersecurity team at their firm. This is especially true as 50% of the respondent companies didn’t have any policies regarding basic cybersecurity such as managing passwords, account privileges, and monitored approvals. 52% of the respondents also don’t have multi-factor authentication enabled when giving access to the companies’ credentials and other sensitive information to privileged accounts. This means that if these accounts get stolen, the company’s cybersecurity is in a really bad position.

Moreover, only 44% of the companies manage these accounts properly and secure these accounts meaning the rest are very susceptible to attacks that could lead to a big scandal. However, these aren’t limited to human identities, but automated machine identities are also implemented and have large access to sensitive information which makes them very useful for cybercriminals. They’re also easier to access and hack into making them a vulnerable point in the security system.

Cybercriminals have a reputation for exploiting any weakness or vulnerability they can get their hands on in a company or organization. This is especially true for machine identities as many organizations give them the privilege to have access to sensitive information which might not even be given to human identities. Criminals can easily hide under these accounts and have access to a huge amount of data making them the perfect place to begin an attack. The companies need to realize the importance of cybersecurity and especially govern their machine identities carefully as they’re the weakest link to their security.

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