Thanksgiving and Black Friday mark the beginning of the Shopping Season, be it online or offline. Online shopping may seem exciting but it is becoming a major cause of identity-related threats. In the process user leaves behind their digital footprints, contributing to the growth of digital identities (digital sprawling), a major cause of concern.
According to IDSA’s 2024 report, 22% of businesses prioritize managing and securing digital identities, up from 17% in 2023 while 51% identified it as a top three priority. The report highlights that 57% of the respondents see identity sprawling as the biggest challenge.
Businesses across industries are not only concerned about protecting customer data but also their employees, vendors, and partners' identities. Surprisingly it is noticed that the employees use their corporate credentials for social media. This compromises both personal and company credentials along with harming the company’s reputation in the industry. Ultimately affecting their core businesses and increasing the cost of recovering from the harm done.
Rising Identity-Related Threats
There are several identity-related threats in the market however phishing (69%) remains top of the list. Other common threats include stolen credentials ( 37%), brute force attacks (34%), compromised privileged access, and others.
The evolving technology and increasing number of identity-related threats have made these threats more complex, and hard to mitigate and detect. While known threats can be addressed by existing cybersecurity mechanisms but what about the emerging, unknown threats?
Advantaged Technology to Address Digital Identity Threats
The never-before-seen before threats are challenging businesses to secure digital identities. Thus, to combat these challenges companies are adopting artificial intelligence ( AI ) and machine learning (ML) solutions. They help identify outlier behavior, evaluate alert security, and streamline administrative tasks.
Other solutions like passwordless authentication systems, privileged access management ( PAM), and multi-factor authentication (MFA) are gaining traction among businesses. They act as guards protecting the digital identities of all the stakeholders involved.
What is Holding Back the Companies?
Even after being aware of the digital identity-related damages businesses are facing barriers because of complex technology environments, insufficient budgets, and a lack of skilled employees.
Overall, this holiday season is definitely going to observe increased activities across the internet be it online shopping, digital footprint, identity sprawl, or identity threats. Thus, businesses must prioritize securing their digital ecosystem to protect their core business, reputation, and identity.
How IDMEXPRESS Can Help?
At IDMEXPRESS, we specialize in providing comprehensive identity security solutions tailored to your business needs. Our advanced IAM and PAM technologies protect against unauthorized access, reduce identity sprawl, and secure your critical data.
Don’t wait for a breach to take action.
Book a free evaluation session today to discover how IDMEXPRESS can help your business sail the complexities of digital identity security and stay protected this holiday season.
Happy Thanksgiving!
Comments