Half of U.S. companies hit with privileged credential theft, insider threats in last year
ThycoticCentrify, a provider of cloud identity security solutions formed by the merger of privileged access management (PAM) leaders Thycotic and Centrify, announced new research that reveals more than half of organizations have been grappling with the theft of legitimate, privileged credentials (53%) and insider threat attacks (52%) in the last 12 months. In 85% of the privileged credential theft instances, cybercriminals were able to access critical systems and/or data. In addition, two-thirds (66%) of insider threats led to abuse of administrative privileges to illegitimately access critical systems and/or data.
The research, commissioned by ThycoticCentrify with CensusWide, surveyed 150 IT decision makers across the U.S. on the most common privileged access risks and Zero Trust adoption trends. In addition to external and malicious insider threat attacks, the study found that nearly half (48%) of organizations experienced a data breach as a result of giving an employee or contractor too much access in the last year.