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Enterprise Security Magazine | Monday, May 20, 2024
Another challenging aspect for IAM is that it is hard to convey how important the data is to the company. A breach will affect the company's reputation—there could be fines, and one could lose significant sums of money, intellectual property, and more in the event of a breach.
FREMONT, CA: Database and password occurrences are so common today that it takes a huge breach to make headlines. Coverage of these violations also highlights that the stolen credentials were a crucial part of the network's infiltration. While one knows that credential fraud is often at the center of these events, why is it so difficult to persuade the organizations, leaders, workers, and consumers to take Identity and Access Management (IAM)? Below are three reasons.
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1. IAM Is Hard to Explain
It is pretty easy to explain the description of a firewall. Although firewalls have their intricacies, they are much easier to explain to the organization, but they may still fail to protect the firm completely. Attackers can also break through the network, and when one is spending time patching the firewall, they can claim to be one of the employees with stolen credentials and walk straight through the front gate.
Another challenging aspect for IAM is that it is hard to convey how important the data is to the company. A breach will affect the company's reputation—there could be fines, and one could lose significant sums of money, intellectual property, and more in the event of a breach. But the violation goes beyond that. For example, government-issued information, such as the social security number, is considered highly confidential information and is related to the ability to buy large items, like a home, or seek new job opportunities. That is why there are government laws in place that enable businesses to manage personal information safely.
2. IAM Is Hard to Budget
It is not easy to request support for identity governance programs. If it is hard to explain IAM, and trying to budget for a solution that one cannot explain is a lot harder. It is also difficult to quantify the ROI of an identity governance solution because the usage of Identity Governance and Admin (IGA) systems differs between entities based on the total size and organizational needs. However, according to one research service, global security spending is projected to surpass 103 billion dollars from 2019.
3. IAM Is Hard to Ignore
External threat actors have become significantly more advanced in their malicious activities targeting insiders—from deploying social engineering attacks such as phishing emails to searching through social media platforms and other data stores on the internet to gather information regarding corporate environments. These problems are not going anywhere and will only continue to rise in severity in the years to come. Attacks using stolen or corrupted user data will remain at the top of the attacker's playbook. Without effective identity governance policies, you won't be able to track, much less deter, these attacks. This feature is no longer a matter that needs to be overlooked or fixed with a larger and stronger firewall.
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