The increasing prevalence of credential exposure poses a significant risk to individuals and organizations alike. But exactly how significant is the issue of credential exposure? According to the 2023 Verizon Data Breach Investigations Report, the issue is quite serious. The report indicates that 74% of all breaches involve the human element, encompassing errors, privilege misuse, the use of stolen credentials, or social engineering. The report also highlights that an alarming 49% of breaches by external actors specifically involve the use of stolen credentials.
These statistics emphasize the urgent need for tight measures to address and prevent credential exposure.
Reduce the risk of credential exposure with these steps
By understanding the importance of adopting proactive measures to protect your credentials, you can enhance your online security posture. We recommend the following steps.
1. Analyze current credentials’ weaknesses
Analyzing your current credentials allows you to identify any vulnerabilities that may exist within your organization.
By pinpointing weaknesses in your organization’s credentials, you can take targeted action to minimize the risk of unauthorized access. These weaknesses can be weak passwords, passwords used across multiple accounts, or outdated authentication methods.
Encourage your team to create strong passwords that are difficult to guess and create a unique one for each account. Ensure they do this by implementing a password manager which securely stores all your passwords in one place, eliminates the need for you to remember them all, and generates strong passwords for you. It's like having a trusty bodyguard for your credentials, ensuring they are both strong and safe.
2. Discover and manage shadow IT
Once you’ve analyzed your organization’s credentials, you’re better able to identify instances where employees might be using personal accounts or unauthorized platforms for work purposes. This practice of using unauthorized applications or services within a company is referred to as shadow IT. These unauthorized accounts can pose a substantial risk, as they may lack adequate security measures, making them vulnerable to compromise.
To manage shadow IT, create a clear policy on the use of IT resources. This policy should define what technology resources are authorized for use and what the consequences are for using unauthorized resources.
3. Assess privileged accounts
Privileged accounts are those that have elevated access to systems and data. They are often used by system administrators, executives, security personnel, and other IT professionals to perform tasks that require more privileges than what is typically granted to regular users.
Credential exposure occurs when sensitive information (e.g., passwords, usernames, and security keys) is compromised. This can happen through a variety of means, such as phishing attacks, data breaches, and insider threats.
This is why it’s crucial to review and assess who has access to these accounts, ensure that the principle of least privilege is followed, and strictly implement additional security measures such as multifactor authentication (MFA) for privileged users.
4. Strictly enforce MFA
MFA is an extra layer of security that adds an additional step to the login process and typically involves a code sent to your mobile device or a biometric verification. It significantly reduces the risk of unauthorized access even if the credentials are compromised.
5. Get help from IT professionals
If navigating the world of IT security feels overwhelming, don't hesitate to seek help from IT professionals such as USWired. A managed IT services provider (MSP) like us has a team of cybersecurity professionals equipped with the knowledge and expertise to assess your organization's security needs, identify vulnerabilities, and provide effective solutions tailored to your specific situation. An MSP can help strengthen your credentials’ protection from online fraudsters who will take every opportunity to steal your sensitive information.
The security of your organization's information is a top priority, and these measures can make a significant difference in safeguarding your digital assets. Learn how you can boost your cybersecurity against credential exposure and a variety of other threats by reading our free eBook, Cybercrime Defense Game Plan.
