Some recent alarming statistics about Privileged Access Management (PAM) yells out the danger that looms large on organizations due to unmonitored account activities. According to a leading research analyst firm, almost 80% of security breaches happening in the world involves privileged accounts. It is undoubtedly a prime time for the organizations to adopt a robust access management solution before its too late. Till now, only 60% of IT professionals believe that PAM security is required to maintain cyber sanctity in business compliances. As a result, the cyber crooks are getting ample scope 0to work on the system vulnerabilities for the rest 40% organizations which are throwing ominous anticipations about probable data breach incidents. The demand for a secured network infrastructure with a proper risk control solution is soaring high and the CISOs, CTOs and CIOs are taking no chances today to secure their digital assets at any cost.
After the introduction of stringent GDPR (General Data Protection Regulation) regulation in May 2018, organizations are gearing up for a complete revamp on the corporate rules to get accustomed to the new security strategy. However, it is still surprising to learn that 66% of global organizations still depend on manual methods to manage their privileged accounts. It clearly shows that cyber security awareness has yet to go a long way, specially among the security officers and management honchos. This scenario is expected to change soon though the transition period might take time depending on the industry, line of business and even geographic location.
Password Management plays a crucial role to tackle cyber threats coming from various sources. Now, most of the organizations have multiple privileged users within a particular IT setup. Once they are shared among multiple users, automatically they become vulnerable to exploitation. It is almost impossible for manual control process to offer round the clock vigilance to the minutest of online activities happening in the network. Strong, dynamic and different passwords for several devices and systems can control the security aspect in a larger way. Rigorous hair-split analysis of the potentiality of access management system shows that proper password management can handle complex and dynamic changes happening within the official network periphery. While logging on to respective privilege accounts, the multiple authentication processes can add another layer of security to the crucial data that are accessible through those accounts exclusively.
Malicious insiders or unmonitored accounts normally aggravate the threat situation. Occasionally multiple third-party access or shared credentials with partners escalate the risk of digital threats. This can be tamed only if a robust PAM solution is deployed in the network and any misuse by external/ internal malefactors can be controlled in real-time.
ARCON is a leading enterprise risk control solutions provider, specializing in risk-predictive technologies. ARCON | User Behaviour Analytics enables to monitor end-user activities in real time. ARCON | Privileged Access Management reinforces access control and mitigates data breach threats. ARCON | Secure Compliance Management is a vulnerability assessment tool.