Over 90% of organisations experience identity-related security breach
Cybersecurity is a growing priority for all businesses. No enterprise is too small to assume that it flies below the radar of cyber criminals. The malware and ransomware statistics speak for themselves. Over 40% of malware attacks are aimed at small businesses. Why? Perhaps because they tend to under-invest in their cyber security infrastructures. Or maybe it’s because small businesses are more likely to pay up in the event of a ransomware attack? Small businesses are, after all, people’s livelihoods, and particularly vulnerable right now, with thousands of self-employed people still not getting the support they need. In any event, one thing’s for sure. As cyber security threats grow more proliferate and sophisticated, businesses of all shapes and sizes need to be proactive in the battle against digital security threats.
Moreover, a recent report has shown that there is an extremely common vulnerability that many businesses share. That of identity security.
79% of organisations have experienced an identity-related breach in past 2 years
A shocking report revealed recently by the Identity Defined Security Alliance (IDSA) demonstrates that nearly 8 out of 10 organisations have experienced an identity-related security breach. The report, which is based on a survey of 502 IT security and identity decision makers, revealed some potentially worrying statistics.
- 94% of respondents had an identity-related breach at some time
- 79% had experienced an identity-related breach within the last 24 months
- 99% believe that the identity-related breaches experienced could have been prevented
Although this makes for sobering reading for many small business owners, many companies interviewed for the report still had not completed implementation of identity-related security measures. For over 50%, identity-related security was still a work in progress.
Phishing still the most common cause
66% of respondents stated that phishing is the most common cause of identity-related breaches. At a time when many businesses are scrambling to remain as operationally efficient and agile as possible to remain competitive in the challenging current climate, the report shows that issues such as cyber security can still be overlooked. Even a measure as simple as training employees how to spot phishing emails could lead to a marked decline in identity-related breaches.
Effective partnerships integral to robust identity security
In an age of DevOps, increased automation and widespread enterprise-connected devices (as well as BYOD policies) there is currently a dramatic growth in the number of workforce identities. As such, a growing proportion of businesses have chosen to partner with outsourced identity security specialists for IAM Solutions. Whether starting from scratch or integrating measures into an existing system, effective partnerships can provide the key to robust identity security without bringing logistical or operational headaches.
Proactive companies less seriously affected
One of the key takehome messages for small businesses from the report is that the price of complacency is extremely high. While 71% of respondents had made organizational changes to their ownership of identity management, the numbers show that fortune favours the proactive.
59% of companies that admit to a “reactive” security culture experienced identity-related breaches in the past year. On the other hand, only 34% of companies that had a “forward-thinking” security culture reported such breaches.