… That’s why Data Privacy is always a hot topic.
approximately of records were exposed in 2021
*According to Cyber Magazine
It’s the average cost of data breach.
*According to IBM Cost of a Data Breach 2022 report
of U.S adults are concerned about the way their data is being used by companies.
*According to the Pew Research Center
Here’s a reminder for every person in charge of an organization’s cybersecurity : January 28th is celebrated as the International Data Privacy Day, which is an initiative to raise awareness about the importance of respecting privacy, safeguarding data, and enabling trust. It’s vital for information security teams to be very clear on this topic not only to be responsible in corporate auditing processes, but also to ensure trustworthy environments for civil society.
Great assets, great responsibilities
Saying that data is the new oil is a smart and simple way to get a sense of where we are standing. However, the author of the statement himself, Ajay Banga, Mastercard’s CEO, added that “data is even more valuable than oil”, considering that oil is a scarce and finite resource, while data is inexhaustible and only increases.
Furthermore, they can be continuously reused, even after being transformed, to generate new information, while oil is discarded after its transformation. That is, the more data, the more information is generated and the more valuable it becomes.
Such problems revolve around ethical and security issues in the use of data, since not all consumers are fully aware of how their data is used by companies and the great effort to protect this data from hackers, since the Internet is a place “where everyone treads”.
This concern around data integrity is yet another aspect that emphasizes how valuable this resource is to society as a whole.
No man’s land? Not at all
Security regulations such as PCI-DSS, ISO 27001, SOX, and NIST require IT administrators to assess the privileges granted through privileged credentials. Data protection laws such as the GDPR, CCPA, and LGPD establish heavy sanctions for organizations that fail to adequately protect the personal data of their customers, suppliers, partners and employees.
With the data revolution, not only do companies change the way they work, but the population also changes the way they think and act in society. The trend is for this to increase in the near future.
In the previous year, nearly half (45%) of US organizations experienced a data breach, according to the 2021 Thales Data Threat Report. However, given the possibility of as-yet-undetected breaches, this number might be larger. It’s interesting to note that the same number of respondents reported noticing an increase in the scope, frequency, or sophistication of these attempts.
After all, the question is not “if”, but “when” an organization will fall victim to malicious attackers. And as much as vendors evolve their solutions and teams improve their cybersecurity posture, malicious actors have also been improving their attack techniques to circumvent the controls put in place.
TAKE CARE! Don’t think they are just outsiders, because just in 2022, 56% of attacks on organizations were caused by insiders’ negligence (employees or contractors) and 26% of them were triggered by malicious insiders (employees or authorized users who use their privileges to perform illegal and harmful activities), according to Ponemon’s 2022 Cost of Insider Threats Global Report.
Many of these cyberattacks have various privileged credentials scattered throughout the corporate infrastructure as an attack vector.
Taking care of Privileged Credentials is protecting data
of data breaches surveyed involved privileged credentials.
*According to Verizon, in its Data Breach Investigation Report 2021
The same way you don’t give the keys of your house to just anyone, you also don’t give access to a critical environment so easily. This is how privileged credentials work: They grant proper access to the managers of a critical system. These users (humans, machines, or applications) can manage accounts; change, move, and delete files and programs; allow or forbid other users’ access to the system; control data; and much more. This clearly shows why cybercriminals are so interested in the “Keys to the Kingdom” (a popular name for privileged credentials).
Why Privileged Access Management matters?
Privileged Access Management or PAM is a key solution for institutions to broadly and effectively protect their critical infrastructure because it manages identities within such environments by monitoring, capturing, and inhibiting unauthorized privileged access to critical resources and data. The fewer users are in a privileged position to take administrative actions, and of course, with the assistance of the solution to increase the controlling scenario, the more secure the system will be.
Close the curtains on what is really private: Ensure the integrity of the data that is under your responsibility and avoid problems at work. Find out more about the top-rated solution for building reliable cybersecurity layers according to Gartner.
Do you want to go deeper? Here are some eBooks that you must read!
See senhasegura in action.
Consistently recognized as Leaders by IT Consulting Firms and clients, senhasegura is a global provider of Privileged Access Management (PAM).
We strive to ensure the sovereignty of companies over privileged information. To achieve this, senhasegura works against data theft through the traceability of privileged actions of human and machine identities in assets, such as network devices, servers, databases, industry 4.0, and DevOps environments. Companies of all sizes and industries rely on senhasegura to protect one of their most valuable assets: data.