Sixty eight per cent of businesses stated that the NSA breach by Edward Snowden and the number of retail/point of sale (PoS) system breaches in the past year were the most impactful in terms of changing security strategies to protect against the latest threats.
The findings are part of CyberArk’s 8th Annual Global Advanced Threat Landscape survey – developed through interviews with 373 C-level and IT security executives across North America, Europe and the Asia-Pacific. The majority of organizations surveyed believe that attacks reaching the privileged account takeover stage are the most difficult to detect, respond to and remediate.
While the NSA breach is widely regarded as the prototypical insider-based attack, and the retail/PoS breaches are regarded similarly for outside attacks, the critical link between both attacks was the compromise and exploitation of privileged credentials. Loss of IP and competitive advantage, diminishing brand value, loss of customers and negative shareholder impact are just a few of the business impacts many organisations felt as a result of cyber-attacks this year,” said Adam Bosnian, executive vice president, CyberArk.
“This year’s survey results demonstrate that whether it’s an insider like Edward Snowden or an outside-based attack like the retail/PoS breaches, attackers require the exploitation of insider credentials to successfully execute their attacks.”