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Five Nines IAM Newsletter – Volume 13

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IAM Resilience

Hey there đź‘‹,

Welcome back to volume #13 of Five Nines, your trusted guide through the ever-evolving maze of Identity and Access Management (IAM).

In this first edition of 2024, we’re reflecting on the past year and looking ahead to the emerging IAM trends of 2024. Okta Ventures portfolio leaders and Optimal IdM weigh in on the trends and technology you can expect to see more of in 2024. We also have updates on the MGM Okta breach as well as informative statistics surrounding other data breaches and their causes. Also, get the scoop on Okta’s integration with Singapore’s national digital ID system and how 1Password is revolutionizing account security with passkeys.

Plus, you’ll find the latest news from other IAM businesses, informative podcasts, and helpful resources from the acsense blog.

Stay Resilient đź’Ş

Trending IAM News

Predictions on Identity’s role in 2024 from Okta Ventures portfolio leaders

Eight leaders from a variety of tech and cybersecurity companies located around the world share their predictions surrounding Identity in 2024.

Accredify CEO Zheng Wei anticipates a breakthrough in balancing security and accessibility through enterprise digital identity solutions. Oliver Friedrichs, CEO of Pangea Security, emphasizes the growing importance of secure software development lifecycles. Mohit Garg, Oloid CEO, predicts advancements in frontline worker authentication, while Moty Jacob, Surf Security CEO, envisions a transformative shift in cybersecurity with identity-driven browsers.

Matt Chiodi (Cerby CSO), Maor Bin (Adaptive Shield CEO), Simon Taylor (HYCU CEO), David Goldschlag (Aembit CEO), Karine Mellata (Intrinsic CEO), and Marshall Pribadi (Privy ID CEO) also share their predictions for the coming year. 

Read More>>

Future of IAM — Trends to Watch For

As 2024 approaches, Optimal IdM looks ahead for the emerging trends in IAM.

With the rise in remote and hybrid work, improved IAM strategies are essential for ensuring the security of data. Some strategies expected to gain traction in the coming year are behavioral biometrics, zero-trust architecture, artificial intelligence, machine learning, and privacy-preserving identity management. Increased utilization of these technologies will result in improved user experiences and security posture. However, shifting away from legacy systems, accepting new technologies, and scaling solutions to meet unique needs are all challenges that must be overcome. 

Read More >>

Millions of Microsoft Accounts Power Lattice of Automated Cyberattacks

Microsoft’s Digital Crimes Unit (DCU) has disrupted Storm-1152, a cybercrime-as-a-service (CaaS) provider responsible for registering over 750 million fraudulent Microsoft accounts.

Storm-1152 sold these accounts, along with tools to bypass identity verification software, which generated millions of dollars. The illicit activities included phishing, spamming, ransomware attacks, and other fraudulent activities. Storm-1152’s services were used by notable cyber threat actors, including Scattered Spider, responsible for the MGM Grand and Caesars Entertainment ransomware incidents. Microsoft obtained a court order to seize and take offline Storm-1152’s US-based infrastructure. The group’s ability to bypass security measures is likely achieved through automation, scripts, DevOps practices, and AI. To stay ahead of such CaaS groups, continuous vigilance, adaptive security measures, collaboration, and regulatory frameworks are imperative.

Read More>>

Survey: 90% of IT Pros Felt Prepared for a Password-Based Cyberattack, Yet More Than Half Fell Victim to One

In their 2023 State of Authentication Survey, Axiad reveals insights from over 200 IT professionals across a variety of industries. While an astounding 88% of respondents felt their organization was well-equipped to handle a password-based cyberattack, 52% admitted their business was infiltrated by such an attack. Despite the vulnerability of passwords, 93% of organizations interviewed still utilize passwords. A primary reason for this continued reliance on passwords is a fear of change, followed by the need to change technology and time constraints. 

Read More>>

90% of companies reported an identity-related breach in the last 12 months

A report from the Identity Defined Security Alliance (IDSA) disclosed that 90% of organizations with over 1,000 employees faced security incidents related to digital identities in 2023. These incidents resulted in over 24 billion stolen credentials made available on the dark web. In response to these alarming statistics, WatchGuard highlights the importance of Identity Threat Detection & Response (ITDR). ITDR aims to safeguard identity systems by detecting, analyzing, mitigating suspicious activities, and identifying vulnerabilities before threats occur. To implement ITDR in your organization, define your organization’s IAM guidelines, deploy identity security, set detection controls, and establish response controls. 

Read More>> 

Trending Okta News

Okta integrates with Singapore’s national digital ID system

Earlier this month, Okta announced the integration of their Customer Identity and Access Management (CIAM) services with Signpass, the national digital ID system in Singapore.

Singpass launched in 2003 and allows users to sign in to e-government services via one set of credentials. Since launching, Singpass has expanded their services, allowing users to digitally sign documents and access digital versions of driver’s licenses and identity cards. Additionally, Singpass is also used in the private sector to facilitate account creation and related transactions. Through this integration, Okta customers will be able to authenticate consumers via Singpass, as well as access tools for step-up authentication, fraud analytics, and credential stuffing prevention.

Read More >>

CDP and CIAM: A match made in cookieless marketing heaven

As third-party cookies are eliminated, and customer reluctance to share data grows, it is becoming complicated for organizations to collect and leverage high-quality customer data. Integrating a customer data platform (CDP) with customer identity access management (CIAM) can help marketing professionals overcome these data-related challenges. CDPs aggregate customer data to create a unified view, while CIAMs focus on authenticating and managing user identities. However, CDPs are prone to accuracy and identity issues. When used with a CIAM, the inherent limitation of CDPs can be alleviated, allowing marketers to understand customer’s needs and create streamlined user experiences while complying with privacy legislation. 

Read More>>

Phishing resistance in unmanaged iOS devices

Phishing remains the most common form of cyberattack.

60% of social engineering attacks are phishing attempts, and 36% of all data breaches are attributed to phishing. Since 80-90% of incidents begin with unmanaged devices, properly securing these devices should be a top priority of any security program. In response to these concerns, Okta is updating their FastPass sign-in feature.  FastPass now offers a phishing resistance option to further protect unmanaged devices. To ensure your organization’s security, Okta recommends enabling phishing resistance across all sign-on policies. 

Read More>>

Podcasts

E41 – Okta Breach Part II/ Okta Q3 Results/ Bookings.com Attack

In this episode of The Week In Identity, hosts Simon and Dave revisit the recent Okta breach to discuss details of the event that since emerged. The duo also discussed Okta’s Q3 results and decided if Okta has any competitors other than Microsoft. Okta isn’t the only recent breach considered in this episode. The recent hack Booking.com experienced is also discussed, along with the significant impact the event had on Booking.com customers. The episode ends with a discussion of push payment fraud, ATO, complex supply chains, and protecting trust boundaries. 

Listen Now>>

 

#252 – Wrapping up 2023

This special episode of Identity at the Center focuses on the podcast’s growth and popular topics over the past year. Hosts Jim McDonald and Jeff Steadman reflect on some of the show’s firsts such as their involvement in the Gartner, Identiverse, and Authenticate conferences. The episode also focuses on the podcast’s upcoming non-profit status before transitioning into a speed round where Jim and Jeff answer a variety of identity-related questions. The episode ends on a festive note, with the hosts sharing their TV recommendations for the holiday break.

Listen Now>> 

Acsense blog

Proactive Strategies for Managing Cloud IAM Risks and Ensuring Enterprise Security

As the adoption of SaaS applications rises, Identity and Access Management (IAM) is a global concern for security teams.

According to the Shared Responsibility Model, both vendors and customers are responsible for ensuring the security of cloud services. Vendors ensure infrastructure security, while customers manage data security and user access. When it comes to IAM, customers are responsible for actively managing and securing user identities and data. Regular audits, proactive vendor engagement, crafting IAM policies, ensuring data protection, maintaining uptime, and compliance with evolving regulations are all effective tools customers can use to support their IAM responsibilities within the Shared Responsibility Model. 

Read More >>

Decoding Cyber Warfare

Cybercriminals are becoming bolder and bolder, even going so far as to threaten the lives of system admins.

Microsoft recently shared an alarming text from the hacker group Scattered Spider threatening to send a shooter to an admin’s house if they did not share login credentials. This threat and others from Scattered Spider are likely ideologically motivated. Fortunately, history provides several examples of how to handle such motivated threats, from the Revolutionary Armed Forces of Columbia to the Cold War. To ensure your organization is equipped for such threats, proper cloud hygiene, attack surface reduction, threat detection, threat response, cyber insurance, and business continuity plans are no longer optional. They are paramount. 

Read More>>


Acsense On Demand

The Cost of An IAM Breach Feat. Kayla Williams

In this Acsense on demand video, CSO and risk leader Kayla Williams discusses how IAM system downtime affects business operations. While downtime incurs a significant financial loss, Williams also highlights some intangible impacts of downtime, such as brand reputation, customer trust, lost productivity, and decreased resource utilization. Check out the full interview to gain insights about effectively managing and quantifying risks associated with IAM downtime.

Watch it Now >>

Company Corner 

Personalizing IAM: A Human Touch Approach to Managed Identity Services

The Managed Services market is a growing area within the Identity Management field.

Numerous metrics can be used to measure the effectiveness and efficiency of managed service programs. Ticket resolution time, reporting capabilities, and customer satisfaction are all effective measures of success, but they leave out the human element. IDMWORKS recently performed a case study analyzing the impact of the human element while working with a client to onboard additional applications. Through this case study, IDMWORKS found that implementing people-focused initiatives reduced ticket counts and created a more stable environment. Fully understanding a customer’s company culture and building a relationship that promotes honesty, trust, and openness enables organizations to achieve excellence in identity management. 

Read More>>

1Password now lets you ditch the master password in favor of a passkey

As the security of passwords is increasingly called into question, 1Password now allows customers to utilize a passkey for individual accounts rather than a master password or secret key. This feature uses public-key cryptography, where a private key remains encrypted and undisclosed to 1Password, while a public key on the company’s servers authenticates login attempts. Even if hackers accessed the public key, they would be unable to sign into an account without the corresponding private key.

The passkey option, currently in public beta for new accounts, will extend to existing 1Password accounts next year.

Read More>>

2023 ForgeRock Identity Breach Report

As the year comes to a close, ForgeRock released their 2023 identity breach report.

The report uncovered a 136% increase in third-party breaches. Additional insights include the long-term complications of stolen identity data. This data often includes Social Security Numbers and protected health information (PHI), which can be used for fraud attacks. The report also highlights the broad impact of third-party breaches. Threat actors are increasingly targeting vendors with weak security controls to access all organizations in the vendor’s network. Responses to these threats vary widely by industry. Some have implemented resilience measures to minimize breaches, while other industries, such as healthcare and education, still struggle with expansive and costly attacks.

Read More>>

Meme of  The Month

Thank You For Reading!

We hope you enjoyed the January edition of the Five Nines newsletter!

Share with colleagues or follow us on LinkedIn for more IAM resilient insights and trends.

—–

P.S

 

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