Statistics provided by the IBM Cost of a data breach report with collected information from 550 organizations impacted by data breaches states that:
Stolen or compromised credentials was the most common initial attack vector.
The longest mean time to identify and contain a breach was caused by stolen or compromised credentials at 327 days.
$4.50 million was the average cost of a breach caused by stolen or compromised credentials.
These statistics show why identity has become one of the more critical components to protect within a cybersecurity program. As we continue to shift more towards a cloud and hybrid work environment, Identity has become the new perimeter vs the traditional Network layer protecting a data center and office model. Identity compromise can occur in many ways and some of the more common approaches include password guessing, brute force attacks, password re-use, password sharing, social engineering techniques such as Phishing, stolen credentials, and more.
If there are no additional controls in place, a compromised identity will allow a threat actor to quickly penetrate and laterally move through your environment to exfiltrate data and potentially deploy ransomware to cripple your operations.
For this reason (and many others), we need to adopt a zero-trust architecture, multi-layered security approach within our cybersecurity programs. But a concerning statistic from the same IBM Cost of a data breach 2022 report referenced above states that only 41% of organizations that participated in the study currently deploy a zero-trust architecture model. And those that don’t deploy a zero-trust architecture will incur a much greater breach cost with an average addition of $1 million. Clearly, as a community, we have a lot of work to do.
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