Every day, millions of people worldwide use their personal credentials to prove their identity and access a range of services, from databases in their workplace to the banking app on their smartphone. But while this ensures only authorized people have access to certain systems, the use of this personal data opens users up to cyber risks, primarily in the form of identity theft.
On Identity Management Day, Source Security spoke to seven IT and cybersecurity experts to discuss their experiences and advice on identity management, including James Brodhurst, Principal Consultant at Resistant AI, who reinforces that: “Securing identities is more important than ever, as fraud and identity theft has impacts for businesses as much as for individuals.”
Effective identity management
He recommends that businesses and other organizations that use consumer identities as an integral part of operations must address the significant challenges of managing identities and recognize that there is no single solution to all possible cyber threats. Effective identity management is only achieved through a broad range of technologies and data.
Businesses have a critical role to play in mitigating cyber threats, as does society as a whole"
This is an important first step for organizations to know who they are interacting with, and subsequently distinguish between genuine or illicit actions. “Businesses have a critical role to play in mitigating cyber threats, as does society as a whole. Initiatives such as Identity Management Day serve to increase our collective awareness of the issues and threats we’re facing, and also safeguard sensitive data.”
External cyber defenses
“Why is identity theft so common?” ponders Andy Swift, Technical Director of Offensive Security at Six Degrees. “Well, the simple answer is stealing account credentials is big business. There is a massive industry out there of people stealing and selling credentials on the dark web. I don't suggest you venture to the marketplaces through which stolen credentials are sold on the dark web, but if you did you'd find lists of credentials with different attributes – whether they've been tested, whether they have access to financial data – that dictate price.”
“Most stolen credentials are sold to people looking to launch phishing and onward phishing attacks, giving them access to compromised mailboxes to send emails from. Secondly, there are hackers who want to launch attacks – ransomware, more than likely – from within a network without having to navigate its external cyber defenses while also evading the long wait for brute force attacks, phishing attacks and other noisy activities to pay off.”
Access sensitive data
Credential stuffing is one of the most common forms of attack and corporate credentials are usually the target"
“And thirdly, there are people who want to simply target external administration interfaces they have identified (RDP for example) which they can in turn use to pivot through to internal networks, or even just target the external host directly.”
Gregg Mearing, Chief Technology Officer at Node4, adds: “Credential stuffing is one of the most common forms of attack and corporate credentials are usually the target. In 2020 alone there were 193 billion credential stuffing attacks globally. Attacks commonly start with a database of stolen credentials, usually with usernames, emails and passwords – although phishing emails and suspicious websites are also used to steal corporate credentials. Once they have gained entry into the organization's system, the attacker can move laterally, completely unnoticed, to access sensitive data, remove files or plant malware.”
Most common threats
“Despite the ubiquity of this style of attack and a wide understanding of the importance of password hygiene, 65% of people still reuse passwords across multiple accounts. There can be no doubt that employees are the first line of defense for an organization against a cyber attack. If trained properly, they can act as a human firewall. However, poor cyber hygiene, a lack of best practice when it comes to managing credentials, and a limited understanding of the most common threats can make an organization’s employees its greatest weakness.”
Despite the ubiquity of this style of attack and a wide understanding of the importance of password hygiene"
Alongside credential stuffing and phishing, Liad Bokovsky, Senior Director of Solutions Engineering at Axway, explains how API attacks are yet another way criminals are executing identity theft: “In fact, last year API attacks increased 348%, and companies affected included some of the largest corporations – Facebook, Instagram, and Microsoft.”
Protecting customers’ data
“Companies need to do a better job at protecting their customers’ data. In a recent survey, 82% of UK consumers confirmed they would stop doing business with a company if it suffered a data breach that exposed their personal information.”
“Thriving and surviving in today’s hyper-connected economy increasingly depends on having sufficient API maturity in place to ensure that anything connecting to an organization’s servers – devices, apps, customers – is managed appropriately to keep APIs, customer data and the company’s reputation safe. This means having technology and processes in place to make sure that API design, implementation, and management are done properly.”
Owning smart devices
This needs to change and with the UK no longer required to adhere to EU-GDPR legislation"
Michael Queenan, CEO, and Co-Founder of Nephos Technologies, explains how the huge volumes of personal data being created every day are putting consumers at risk: “Whether shopping online, setting up a social media account or simply reading a news article, we are regularly being asked for our identifiable information. With 10% of UK homes now owning smart devices – e.g. an Alexa or a Ring doorbell – our data is constantly being collected, even within our own homes. Should it fall into the wrong hands, it could be used for identity theft or fraud.”
“This needs to change and with the UK no longer required to adhere to EU-GDPR legislation, it presents an opportunity to rectify how personal data can be shared. Ultimately, I believe individuals should be responsible for their own data and how it is used.”
Ensure data privacy
“A possible way of achieving this is through identity-centric blockchain, whereby everyone has a national email address associated with their blockchain identity that permits access to their personal data. This would ensure that only you get to decide who has access – your data, your choice!”
This would ensure that only you get to decide who has access – your data, your choice"
Steve Young, UKI Sales Engineering Director at Commvault also comments on how identity management is vital for meeting data regulations, thereby supporting data management throughout the business: “In the world of data management, you’d be forgiven for thinking that the focus is all on backups and recovery. But while these are absolutely crucial elements, another key aspect of data management is identity management – only through understanding it will businesses be able to drive their data management to the next level. Identity management is necessary to ensure data privacy.”
Latest data regulations
“Many people will be most familiar with its function as a way to restrict access of employees to certain files and resources that may hold sensitive or classified information. But what is becoming more important today is how identity management also helps prevent cybercriminals entirely outside an organization from gaining unauthorized access to a system and initiating a ransomware attack, for example. Because of this, identity management helps businesses be compliant with the latest data regulations, as it ensures that any customer data collected and stored is kept secure.”
So, what solutions should IT leaders be prioritizing to strengthen their identity management measures? Six Degrees’ Andy Swift recommends multi-factor authentication (MFA): “MFA provides great defense against identify theft, but it's also a reactive technology: for it to be effective, an attacker must already have obtained stolen credentials.”
Cyber security training
Credential-driven attacks are largely exacerbated by a ‘set it and forget it’ approach to identity management"
“That's why comprehensive cyber security training and education on best practices is quite possibly more important than any technology could ever be alone. There's no silver bullet when it comes to achieving strong identity management, but the importance of threat awareness and training cannot be overstated.”
“We advocate for the best practices that ensure cyber hygiene and protect personal and professional identities and credentials to prevent credential-based attacks from continuing,” concludes Tyler Farrar, CISO at Exabeam. “Credential-driven attacks are largely exacerbated by a ‘set it and forget it’ approach to identity management, but organizations must build a security stack that is consistently monitoring for potential compromise."
"Organizations across industries can invest in data-driven behavioral analytics solutions to help detect malicious activity. These analytics tools can immediately flag when a legitimate user account is exhibiting anomalous behavior indicative of credential theft, providing greater insights to SOC analysts about both the compromised and the malicious user, which results in a faster response time.”
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