According to the “Evil Internet Minute 2019” report compiled by RiskIQ, cybercrime caused $1.5 billion in worldwide damages in 2018. Ransomware attacks on companies especially have been on the rise. Between the second quarter of 2018 and the second quarter of 2019, the total number of ransomware attacks on enterprises increased by 363 percent. Financial losses are potentially in the millions. Affected companies face ransom demands and high costs for downtimes and recoveries, among other things. Three out of four companies who were affected by ransomware have no access to their files for two or more days – 30 percent of companies even for five days or more.
Though businesses invest a fortune in protective measures and security tools designed to detect and prevent cyber attacks, they are unable to prevent all ransomware attacks – and the greatest threat to security is often overlooked altogether: a company’s own employees.

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“Top 5 Risks in Access Management” –
held by Helmut Semmelmayer, tenfold Software GmbH

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Your employees might just be the problem

More than 90 percent of successful cyber attacks begin with a simple phishing email and a person who unwittingly clicks on a link, only to unleash a malicious file. The methods used by hackers are becoming more refined and sophisticated, often making it difficult to recognize the difference between ransomware and real emails.
The obvious solution is to raise awareness and educate employees on the topic of cyber security. Unfortunately, however, many efforts are made in vain because, even though most people are aware that passwords are supposed to be sophisticated and complex, and even though many people learn about phishing attacks from the media, mistakes still happen – all the time. People are inclined to rely on security software a little too much and just assume that cyber attacks won’t happen to them.

So, what can you do?

The safest way to protect your systems from “the human factor” is simply to control IT users’ access rights. With access management, you can steer which data will be disclosed in the event of an attack. If somebody’s user account is hacked, cybercriminals will only be able to access those systems which the user has access to. Of course, this will not prevent the attack itself from happening, but it will help you to keep damages to a minimum.
To find out how to best implement an automated and system-wide access management solution, please join our webinar on “The 5 Risks in Access Management“.