One Identity understands that when it comes to managing and monitoring these privileged accounts, continuously controlling access and governing credentials and administrators is challenging. One Identity Safeguard secures and automates the management of privileged or shared accounts for both on-prem and cloud-based accounts using a modern architecture that is easy to deploy, operate and maintain. This enables organizations to secure their privileged accounts without the added complexity and friction of traditional PAM solutions.
● Global survey of over 900 IT security professionals uncovers large-scale mismanagement of privileged accounts
● Nine in 10 respondents (90 percent) in Singapore and 87 percent in APAC overall admit to challenges managing privileged passwords (Global: 88 percent)
● Paper-based logbooks are still being used for privileged password management by one in five (22 percent) IT security professionals in Singapore and 19 percent in APAC overall (Global: 18 percent)
SINGAPORE – November 8, 2017 – One Identity, a proven leader in helping organizations get identity and access management (IAM) right, today released new global research that exposes widespread poor practices when it comes to managing privileged accounts. Dimensional Research recently surveyed 913 IT security professionals on challenges, habits and trends related to managing access to corporate data. Among the most eye-opening research findings are that nine in 10 (90 percent) respondents admit to facing challenges when it comes to managing privileged passwords, and one in five (22 percent) still use a paper-based logbook to manage privileged accounts in Singapore.
These findings are significant considering that privileged accounts grant virtually unlimited access to nearly every component of a company’s IT infrastructure, essentially handing over the keys to a company’s most critical and sensitive systems and data. The survey also exposed three key areas where distressingly inferior practices for privileged account management occur, including:
● Management platforms and tools: In addition to 22 percent of respondents admitting to using paper-based logs, a surprising 34 percent are using equally inadequate spreadsheets for tracking privileged accounts in Singapore. The survey also found that two-thirds (67 percent) of companies globally, are relying on two or more tools to manage these accounts — indicating widespread inconsistency in privileged access management (PAM).
● Monitoring and visibility: The majority of IT security professionals (55 percent) in Singapore admit to only monitoring some privileged accounts, or not monitoring privileged access at all. Even worse, 21 percent of respondents confessed they are unable to monitor or record activity performed with admin credentials, while 28 percent said they cannot consistently identify individuals who perform admin activities.
● Password management and change: An overwhelming 87 percent of organizations in Singapore are not consistently changing the password on their admin accounts after each use. Further, 38 percent of IT security administrators don’t take the basic best practice of changing a default admin password. By not adhering to these best practices, privileged accounts are vulnerable to open the door to data exfiltration or worse, if compromised.
“When an organization doesn’t implement the very basic processes for security and management around privileged accounts, they are exposing themselves to significant risk. Over and over again, breaches from hacked privileged accounts have resulted in astronomical mitigation costs, as well as data theft and tarnished brands,” said John Milburn, president and general manager of One Identity. “These survey results indicate that there are an alarmingly high percentage of companies that don’t have proper procedures in place. It is crucial for organizations to implement best practices regarding privileged access management without creating new roadblocks for work to get done.”
“Privileged accounts present an easy target for hackers or even malicious employees when poor security and management processes exist within an organization. The results from Singapore and Hong Kong are especially worrying, revealing the extent to which organizations are at risk to data theft, and highlights the urgent need for businesses to raise their standards in privileged access management,” said Lennie Tan, Vice President & General Manager, One Identity, Asia Pacific & Japan.
Avoiding Primitive Management A recent Forrester Report states that eight out of 10 breaches that occur involve privileged credentials, highlighting just how much of a target privileged accounts are for hackers. Cybercriminals know that gaining access to privileged accounts is the easiest and fastest way to obtain a company’s critical data and systems, which is why organizations can no longer rely on old practices, such as paper records or Excel logbooks, to manage these priority accounts.
About the One Identity Global State of IAM StudyThe One Identity Global State of IAM Study consisted of an online survey conducted by Dimensional Research of IT professionals with responsibility for IT security as a major part of their job and were very knowledgeable about IAM. A wide variety of questions were asked about experiences and challenges with IAM. A total of 913 individuals from the U.S., Canada, U.K., Germany, France, Australia, Singapore and Hong Kong completed the survey.
This report is based on the global study, and One Identity offers a free online executive summary of the data in a Key Findings Report, as well as an illustrated look at the data in an infographic. These materials can be found here.
About One Identity
One Identity, a Quest Software business, helps organizations get identity and access management (IAM) right. With a unique combination of offerings including a portfolio of identity governance, access management and privileged management, and identity as a service that help organizations reach their full potential, unimpeded by security yet safeguarded against threats. One Identity has proven to be a company unequalled in its commitment to its customers’ long-term IAM success. More than 7,500 customers worldwide depend on One Identity solutions to manage more than 125 million identities, enhancing their agility and efficiency while securing access to their data — wherever it might reside. For more information, visit http://www.oneidentity.com.