While organizations have started giving utmost importance to cyber security and have started allotting handsome budget for saving their digital assets, cyber crooks are getting smarter and giving birth to more sophisticated attack techniques. Today, suspicious insiders are giving more nightmare to the IT security officers rather than outsiders. According to the latest research, organizations cough up to $8 million annually as a price paid for the damages done by malicious insiders.
The ramifications happen due to malevolent activities done by insiders are much more widespread comparing to that of outsiders. The basic and obvious reason behind it is that any privileged employee is expected to be more aware of the whereabouts of the location of confidential data, sensitive records and privileged credentials. Organizations normally take more time to detect these frauds since it happens internally, that too from officially approved and legitimate accounts.
The major reasons behind these unscrupulous activities are unmonitored accounts, multiple third-party access, poor password management, no authentication methods etc. Who can forget the infamous incident of sabotaging software systems by a trusted employee of a reputed automobile company at the beginning of 2018? It took the organization quite a long time to find out the root cause of infiltration. Ultimately, the security officers had to face numerous obnoxious questions of why better control systems were not in place to keep vigilance of the privileged account activities.
The role of Privileged Access Management (PAM) and User Behaviour Analytics (UBA) is highly crucial to get rid of these unexpected disasters like data breaches. This enterprise level security solution monitors each and every session happening in the network and sends alert notifications in case any suspicious behaviour is observed. It even gives real-time report of the activities happened in the network which helps the CTOs, CIOs and CISOs to analyze and mitigate cyber risks.
Lastly, Information Security and Access Control are the two most essential components for a robust IT environment. Thus, it is undoubtedly a critical hour for most of the organizations, irrespective of small or large, to adopt adequate and necessary steps to protect their digital assets. Moreover, security guidelines provided by regulatory bodies (like GDPR, SWIFT, HIPAA, PCI DSS, SOX etc.) are forcing the organizations to strengthen the situation.
ARCON is a leading enterprise risk control solutions provider, specializing in risk-predictive technologies. ARCON | User Behaviour Analytics enables to monitor end-user activities in real time. ARCON | Privileged Access Management reinforces access control and mitigates data breach threats. ARCON | Secure Compliance Management is a vulnerability assessment tool.