Saving Money With Identity Access Management

With the rising costs of infrastructural and maintenance issues, many institutions – both private and governmental – are facing funding situations that result in renovations and necessary upkeeps being delayed. The department that takes the biggest cut however is almost always the IT department. Given the dire need to save money and cut down on costs, how can corporations make sure that their digital security is not compromised?

As a result, the adoption of modern identity and access management (IAM) services has become an integral strategy for organisations to remain competitive without going beyond their budget. The implementation of IAM products allow organisations to free up limited resources, granting them the time and effort to concentrate on larger-scale projects and initiatives. How do IAM solutions help in reducing expenditure?

Firstly, modern IAM systems enhance the productivity levels of the workplace, as they allow the existing employees to do more. At the beginning of every work year, it can take many weeks, even months, for new user accounts to be created and provisioned with the relevant access privileges. Modern IAM solutions streamlines these processes of account provisioning and deprovisioning, without posing any interruptions to the company’s workflow. This alleviates the amount of administrative workload on the IT team as such tasks are now automated. Such a solution is especially advantageous to organisations such as educational institutions and public sector corporations with a large population of users. Additionally, real-time provisioning means that new users can obtain instant access to the specific resources they need for their job.

Secondly, now that administration is taken off the shoulders of the IT department, it is delegated to those in power or with responsibility. This ensures that people in charge of a specific access privilege are able to make decisions about it, without having to go through the IT department. With the presence of an IAM software, employers can take advantage of the self-service features such as password resets. A huge bulk of IT costs can be traced to the IT department’s administrative workload of having to manage password reset cases. With the adoption of modern IAM, corporations can see a drastic reduction in help desk costs and password management cases.

Thirdly, corporations are given the opportunity to consolidate to a single platform or vendor, with the integration of IAM. This saves a lot of money especially for organisations that have been using a legacy system. By consolidating to a single platform, not only is it more cost-effective, but it is also convenient as one IAM solution will have multi-factor authentication and access control management. As such, time and energy is saved which can be transferred and channelled to other plans and projections.

Finally, organisations can keep the issue of software license counts within control. IT departments are often found playing catch-up to prevent the business from spending on unnecessary software licenses. Such an issue is no longer a worry with modern IAM in place. When an employee exits the company, their user account privileges are automatically removed, and the license is cancelled. Excess collection of licenses over time are therefore prevented.

Many institutions can save money by adopting IAM solutions.

Cyber Attacks: 3 Common Methods and Preventing Them

We hear about cyberattacks all the time. Corporations are hacked, financial and personal data stolen, or someone narrowly avoids falling prey to an online scam. The constant advance of technology enables us to reach more and more people over the Internet. Conversely, cyber criminals can also expand their pool of potential victims, employing new methods to terrorise online entities. We must adopt stronger defence mechanisms if we are to prevent cybercrime from affecting us. This article will look at common types of cyberattacks and how we can protect ourselves better from them.

1. Denial of Service

Denial of Service (DOS) and Distributed Denial of Service (DDOS) attacks are attacks that overload the servers of their victims and prevent servers from responding to service requests. DOS and DDOS attacks don’t explicitly try to gain access to restricted information or hack into their victim’s networks. Rather, perpetrators are satisfied with temporarily disabling their victim’s website.

During a DDOS attack, the victim’s website is presented with countless service requests from other infected machines. The victim’s server is overloaded and normal service is disabled. This is especially important as most DDOS attacks befall businesses and corporate identities.

There is not much one can do against DDOS attacks. However, choosing a secure and powerful server can allow a business to handle a larger volume of service requests. Firewalls against fragmented IP addresses and half-formed requests and partially block off DOS and DDOS attacks.

2. Password Attacks

Most information systems and websites use passwords as the last line of defence, to check if users are who they say are when accessing a website or network. Therefore, password hacking is a common and potentially lucrative cybercrime. It gives attackers access into and potentially control over a website or network.

Brute force or dictionary attacks are the most commonly employed tactics to hack passwords. Brute force attacks essentially use a trial and error approach to eventually guess the correct password. Software is used to systematically generate a huge number of consecutive guesses to hopefully find the right password. Dictionary attacks use a more concentrated attack, usually variations of words commonly found in dictionaries.

To prevent password attacks from succeeding, using multi-factor authentication will prevent hackers from gaining instant access. Security measures, such as Singpass’s 2FA login, make it almost possible for password attacks to succeed. Since it requires a password and a second authentication factor, password hackers will have a much harder time breaking into your website, account or network.

3. Phishing

Phishing attacks look to unscrupulously gain pieces of personal information from their victims. This usually comes as emails, imitating legitimate sources, that ask victims for their personal information. Clicking on links in such emails can also download malware into your device, and allow hackers more access to your personal information.

You can avoid becoming a victim of phishing by simply thinking critically when looking at your emails. Being selective and careful when opening your emails, such as spotting suspicious URLs or doubtful email addresses are tell-tale signs of a phishing attack.

To conclude, there are many methods hackers employ to conduct cyber attacks. To avoid falling prey to them, we must have the proper security measures in place and must be careful in our own decisions.

Security Challenges Faced By Enterprises

Studies have shown that the number and frequency of cyberattacks have been on the rise since 2015. As technology continues to develop, the world of IT security has to stay on its toes and evolve to adapt with new software technologies. Hackers will consistently seek ways to target businesses with poor security and outdated IT infrastructures. With the copious amounts of data being stored and processed, retail organisations and enterprises face the highest threat of cyberattacks.

In this article, we shall place a magnifying glass over the security challenges businesses will encounter and how they can be handled.

Weak Passwords

Passwords and password-related issues are one of the weakest and the most common chinks in any organisation’s cybersecurity armour. Many businesses are still using password policies that are outdated, giving rise to passwords that are weak and easily stolen. With modern identity and access management (IAM) services in place, password management and password-related issues will no longer be a problem for businesses, thus enhancing IT security.

Phishing Attacks

Many successful attacks from hackers come from phishing schemes that fool and manipulate the user into giving away their password and login credentials. Through emails and other social engineering tactics, even the most security-conscious user can fall prey to a phishing scam and have their accounts breached. Raising awareness and highlighting the possibility of a phishing attack may alleviate the problem, but the security risk still remains due to the reality of human error.

With an IAM system implemented, phishing attempts and other malicious attacks can be prevented.

Third-Party Vulnerabilities

External vendors and parties are often roped in by organisations for work purposes. However, third-party suppliers are often vulnerable and therefore create an opening in the company’s security. Organisations must therefore bear in mind the weaknesses of their external parties. Third-party vendors are also a high target by cybercriminals as they may not have the latest security controls installed. Furthermore, many third-party vendors prioritise ease of access over security, sometimes even sharing generic credentials among their employees. Once these credentials have been compromised, hackers can infiltrate into other systems to retrieve highly valuable and sensitive information such as credit card data.

Fortunately, the implementation of an IAM system can eliminate these security challenges, allowing businesses to function and continue working without the fear of online attacks. A robust IAM system will enable organisations to manage the identity lifecycles of all user accounts, including third-party suppliers. Additionally, the provisioning and de-provisioning of account privileges can become automated, preventing attacks that are incited by phishing schemes and stolen credentials. The added layers of protection through multifactor authentication and authorisation mechanisms will prohibit any replay attacks from cybercriminals. Based on the IAM model that is appropriate for the enterprise, the IT security needs of the organisation can be catered to and fulfilled, allowing organisations to invest more time and energy on large-scale initiatives and projects that will aid in company development. Modern identity and access management (IAM) products offers a plethora of solutions to any cybersecurity challenge.