The corporate data centre used to be the centre of the universe. However today, data lives everywhere and users connect from dispersed locations and devices. Securing access from within the comfort of your local perimeter is now a thing of the past.
With many corporate users now working remotely, it should come as no surprise to hear the cost of data breaches is increasing. IBM’s Cost of a Data Breach Report 2021 reveals the average cost was USD 1.07 million higher in scenarios where remote work was a factor, with compromised credentials responsible for 20% of the breaches, resulting in an average breach cost of USD 4.37 million.
When remote work increased, security controls shifted to Identity. As many organisations fought to reconfigure their workforce to be significantly more home-based last year per the pandemic, the collective threat landscape increased dramatically too. New research from Forrester describes how security professionals can better reduce risk and furnish a quicker exit out of “pandemic mode” by targeting the following cyberthreats this year:
- Insider threats from job security concerns – The economic uncertainty for enterprises is starting to force tough decisions. Concerns over job security and financial woes are two triggers for once-trusted employees to become malicious insiders:
According to Forrester survey data, trusted insiders and business partners, intentionally and unintentionally, are responsible for 43% of security breaches
- Identity theft and account takeover attacks – Triggered by COVID-19 and the resulting growth in digital interactions, Forrester estimates identity theft and account takeover increased by at least 10% to 15% from 2019 to 2020:
Forrester anticipates another 8% to 10% increase in identity theft and ATO fraud in 2021
- Attacks against COVID-related mobile applications – Over 50 countries launched contact tracing applications since 2020. These applications will become attractive targets for miscreants as we struggle to balance safety and privacy in the race to the next normal
So, with Identity being the prime focus for security controls, how do you mitigate cyber threats as you embark on your Zero Trust journey?
Azure Active Directory has taken the leadership crown in the Gartner Magic Quadrant for Access Management. Around the world, organisations are beginning to adopt Azure AD as their access management platform of choice. So, to ensure you’re utilising Azure AD features and capabilities to its fullest as a way to tighten your security controls around Identity, watch my latest FastTrack Update where I guide you through all the capabilities available within your Azure AD presence to help you address Identity.
If you missed it, check out my previous FastTrack Update where I take your through the principles of Zero Trust.