90% of organizations have experienced an identity-related cybersecurity issue (IDSA Trends in Identity Security 2024). In fact, so much has been written about preventing data breaches that it can be tempting to ignore the threat entirely.
But don’t. Data breach prevention must be a top priority. Why?
One big reason, of course, is that data breaches often cause substantial financial and reputation harm. Information in the wrong hands opens a company to extortion, even physical harm.
And there are regulatory obligations across the globe that must be adhered to in order to avoid massive fines. For GDPR, fines go up to EUR 20 million. CCPR violations start at $2500 and go up to $7500 for a single violation.
The fines quickly go into the millions when people are impacted. Perhaps you know this?
What we want to add to the conversation is that one of the most important cybersecurity strategies in preventing data breaches is Privileged Access Management (PAM).
In 2023, a data breach at Uber compromised privileged credentials. The attacker used social engineering to gain access. In that same year, quite famously, MGM Resorts in Las Vegas was the victim of a social engineering breach that allowed attackers to cause massive disruptions and a serious financial loss.
Stringent PAM protocols could have prevented these and many other mishaps.
PAM plays a vital role in cybersecurity by securing privileged accounts, which are often targeted by cybercriminals because privileged accounts provide access to critical systems and data.
Companies and organizations including government agencies are high-value targets and malicious actors and even state-sponsored cyberterrorists use a variety of ever-more-sophisticated tactics to access these targeted accounts.
Tactics like social engineering are used to steal privileged credentials and to infiltrate an organization’s defenses. Effective access control and security measures through PAM are essential in reducing data breach risks and strengthening an organization’s overall security posture.
Implementing PAM across industries: a key to data protection
The role of PAM in cybersecurity varies across different industries, but its importance remains universal.
Regulated sectors such as critical infrastructure (e.g., finance, healthcare, utilities, telecom, and government) are particularly vulnerable to data breaches due to the sensitive nature of the information they handle.
PAM for data protection is particularly stringent in these industries, where specific controls are implemented to ensure access control and security. It is essential to understand the regulations and to have a trusted partner like senhasegura with experience navigating the regulatory and compliance guidelines.
A trusted PAM provider will have features like real-time monitoring and auditing privileged access so organizations can maintain complete control over who accesses sensitive information and when.
Privileged Access Management (PAM) features that strengthen security against data breaches
Some of the most powerful PAM features against data breaches include:
- Multi-Factor Authentication (MFA): MFA is one of the most fundamental cybersecurity strategies. It adds an additional layer of security by requiring users to verify their identity through multiple methods before accessing privileged accounts.
- Just-In-Time (JIT) Access: JIT limits access to privileged accounts to only the times when it is needed, reducing the attack surface by ensuring credentials are not always active.
- Session Monitoring and Recording: This PAM feature allows for the tracking of all user activity during privileged sessions. Real-time monitoring and alerts are triggered by suspicious behavior, enhancing data security with PAM.
- Audit and Compliance Reporting: PAM solutions provide detailed reporting to ensure that organizations adhere to regulatory requirements while reducing the risk of unauthorized access to sensitive data.
We mentioned the 2023 attacks on Uber and MGM Resorts as examples of failure to implement PAM. But becoming a victim of a cybercriminal is only one type of repercussion.
Others include:
- Fines and Sanctions: Data privacy regulators impose heavy fines on companies that fail to secure sensitive information effectively.
- Business Disruptions: Data breaches can cripple a company’s ability to operate, causing extended downtime and operational losses.
- Reputation Damage: A data breach can severely harm a company’s reputation, leading to the loss of customer trust and long-term financial damage.
As cybersecurity continues to evolve, so do PAM solutions and their capabilities in preventing data breaches.
Just as the tactics of cybercriminals evolve, so do trends in prevention. Some trends to highlight include:
- Zero Trust Security: Zero trust architecture assumes that no user, device, or system is inherently trustworthy. PAM supports this model by tightly controlling access to privileged systems.
- Cloud Migration: As more organizations move their infrastructure to the cloud, PAM must adapt to secure cloud-based systems where traditional on-site security measures are no longer sufficient.
- AI and Automation: AI-driven PAM solutions are increasingly being used to monitor user behavior, detect anomalies, and automate responses to potential threats.
- Identity Infrastructure: Managing identities and access across an organization’s entire infrastructure is becoming increasingly complex. In fact, Gartner states that it is impossible to manage privileged access risks without specialized PAM tools such as those offered by senhasegura.
Reducing risk in the age of remote work
With the rise of remote work, PAM has become even more critical in securing access to an organization’s systems and data.
Remote work means employees at cafes, hotel lobbies, public parks. In other words, in areas the IT team cannot monitor or control.
The “attack surface” refers to the area of vulnerability for any organization, and remote work significantly broadens that area of vulnerability. To reduce the attack surface, companies must implement strong authentication methods such as MFA (discussed earlier) and use remote access tools that provide visibility into user activity.
By monitoring who is accessing systems and ensuring that only authorized personnel have privileged access, PAM helps reduce the risk of unauthorized access and data breaches in a remote work environment.
Regulatory and compliance considerations for Privileged Access Management (PAM)
As data privacy regulations continue to expand globally, ensuring compliance with these laws is more important than ever. According to Gartner, by 2025, over 70% of the world’s population will be covered by some form of data protection regulation.
Effective PAM implementation is not just about meeting compliance requirements — it also plays a key role in improving an organization’s overall security posture.
We believe compliance is an opportunity to enhance data security rather than simply a checkbox exercise.
Conclusion
Privileged Access Management (PAM) is an essential tool for preventing data breaches and enhancing data security.
By reducing data breach risks, monitoring privileged activity, and enforcing strong access control measures, PAM plays a crucial role in cybersecurity strategies across industries.
Organizations that fail to implement PAM leave themselves vulnerable to breaches, operational disruptions, and reputational damage.
As the most effective Privileged Access Management solution on the market, and with clients in more than 70 countries, we have mastered the art and science of safeguarding sensitive data and our highly responsive team is always happy to discuss PAM goals and priorities.
