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Hackers breaching through a company's security is a looming threat that has always been hovering over any I.T. Security professional of any company or organization, big and small. There has been a lot of news about breaches and the noise on how big the impact to businesses and individuals is so loud. It is because the global average cost of a breach has been estimated at around $3.62 million and major breaches can even cost hundreds of millions of dollars. Add that to the immense damage to a company's reputation resulting from these breaches. There is clearly a need to stop these hackers, but we first need to understand how most of these breaches happen.

80% of security breaches involve credentials of privileged accounts These accounts are different to a regular user accounts. A user account typically represents an identity of a human user and has an associated password to protect your account against misuse and secure your information. On the other hand, privilege accounts are accounts that can represent human or non-human users. They provide administrative capabilities or a higher level of access to users. With these accounts, they allow I.T. professionals to manage and maintain applications, software or servers.

Considering how important privileged accounts are, one would think that very special procedures are placed to secure them. But based on a survey, 54% of companies are using paper or Excel spreadsheets to manage privileged accounts. This is very risky as it may lead to exposure due to unknown and mismanaged privileged accounts. Most of the times, privileged account credentials are static and there is no routine password rotation being done. Some privileged account amass high levels of privileged access even though the specific account does not need it, as it takes time for I.T. administrators to check and review access rights for those privileged accounts. Common point of entry of breaches are vulnerable endpoints caused by lack of application control. All these provide hackers a way to hijack privileged accounts and wreak havoc in your organization like go anywhere in the network, accessing and downloading sensitive data or distributing malware.

Privileged Account Management (PAM) security solutions can help your company avoid being the next cyber-crime headline. Privileged access management allows organizations to discover and identify privileged accounts in your system. With this, there are no more unknown accounts that you cannot monitor. You can also manage and audit privileged accounts easily. You can store passwords and have a check-in and check-out functionality, so you know who used the passwords, where they are located and when they used it. With the ability to control the use of the passwords, you know exactly how and why they are being used. You can limit the privilege for business and I.T. users to improve endpoint security, and effectively stop malware at the endpoint. Overall, with PAM, you are able to prevent unauthorized use of privileged accounts and enforce least privilege policies that will keep you safe from hackers.

Breaches are very costly for organizations, both big and small, and most breaches involve privileged accounts. With most organizations still utilizing paper or Excel spreadsheets to manage these account, it is a disaster waiting to happen. Privileged account management solutions are available to stop breaches by preventing unauthorized use of these privileged accounts. With PAM in place, you are sure your organization is safe and secure from hackers and breaches.

Prevent Breaches With Privileged Account Management

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