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Thefts of Digital Assets are Spiraling

In an increasingly digitized business world,organizations are now measured by their ability to maintain a digital trust among investors, customers, and other stakeholders.

As discussed in our previous article ‘Compromised Digital Security Can Break Business Deals’, today’s business stakeholders are not just interested in assessing key performance metrics. They scrutinize a firm by digging deep inside its overall functioning, which throws a light over how their digital assets get protected by cyber criminals.

Indeed, organizations’ inability to secure their digital assets could turn out to be a stumbling block in the long-run. Two global firms: one UK-based Telecommunications Company and another, an internet company in the U.S., have realized this fact the hard way. In the former case, its brand-reputation took a hit following last year’s data breach incident involving thousands of customers, eventually leading to several customers switching to rival service providers. And in the latter case, the company, in the midst of selling its business, is finding hard to attract an attractive bid after a massive data breach incident.

Data is now a commodity. It sells in this fast expanding cyber space. Your vital digital assets are not just at risk from within organization’s inner periphery but also from outside.

But unfortunately companies are failing to address this critical issue even as the number of unusual activities or data breach incidents are spiraling.

ARCON recently conducted an IT security survey across different markets spanning multiple industries, which included banking and finance, pharmaceutical, government organizations, ITES, and manufacturing companies.

To our disbelief, we found that nearly 71% of the organizations witnessed data breach attempts; out of which, almost 30% of the firms had more than 10 data breach attempts this year. Yet, 66% of the firms surveyed have not deployed solutions like Privileged Identity Management, a risk-control solution which helps monitoring misuse of privileged identities. These privileged identities are master-keys to an organization’s critical digital assets. If these critical gateways to organizations’ advanced secure configuration are not safeguarded, incidents like identity thefts and data breaches will keep spiraling.

ARCON is a leading enterprise risk control solutions provider, specializing in risk-predictive technologies. ARCON | User Behavior 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.

Need a solution for safeguarding critical IT assets? Please contact us

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