Methods for securing your business with identity and access management

Some Current Global Cyber security Challenges That Corporates Face

Phishing attacks: The sophistication of phishing assaults is increasing. Nowadays, hackers have upped their game due to employees' increased awareness of their phishing techniques. For instance, fraudsters are using AI and machine language to send clear fraudulent communications in the hope that receivers will unwittingly penetrate their organizations' networks, systems, and corporate databases.

Digital medical records: Electronic Medical Records, or EMRs, are quickly evolving into the next major target for hackers as hospitals and other medical facilities digitize patient records. Hackers are taking advantage of the numerous holes in their security measures. Due to the secrecy of the patient medical records they retain and the fact that they are now largely all public, EMRs are progressively becoming hacker havens.

Cloud vulnerability: Businesses are transferring their sensitive data quickly from older data centers to the cloud due to the flexibility and economics associated with the cloud. By 2020, 83% of the company workload will be hosted in the cloud, predicts Forbes.com. But when that happens, it will cause new business problems and worsen existing ones. Account takeover, DDoS assaults, data leaks, insecure interfaces and APIs, malicious insider threats, and misconfiguration are some of the most serious cloud security flaws on this list.

BYOD-related challenges: BYOD, or bring your own device, turns out to have its own perks and cybersecurity challenges for businesses. Businesses can significantly reduce costs by allowing employees to use their own devices for work, on the one hand. However, it has also put more pressure on security systems. Malware infections and data leaks are both widely known. Tracking and managing various device types has proven to be much more difficult.

Internet of Things (IoT): Businesses are relying more on connected technologies due to the adoption of IoT. Attackers are, as a result, using the IoT infrastructure's weaknesses. DDoS attacks and ransomware are two examples of the increasing frequency of security concerns.

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Identity and Access Management Best Practices That Every Corporate Should Follow

Implement zero-trust security

In the fluid environment of contemporary business networks, the wisest course of action is to assume that no one is reliable till it is shown otherwise.

Consumers are continually authenticated under the zero trust approach, with session-by-session activity tracking and risk assessment. A gadget with zero trust can spot unusual actions indicating a legal infringement.

Use multi-factor authentication

Building layers of trust for your customers' accounts start with multi-factor authentication or MFA. It provides two more authentication layers in addition to the password.

  • Something possessed by your clients.
  • Something that your customers inherited.

A security pass or a key could be the first. While the latter refers to inherited biometrics from your customers, such fingerprints, voice recognition, or retina scans. MFA ensures that even if one layer of protection is breached, the hacker must still breach a second layer of security to access your system.

Avoid privileged accounts

Assigning a consumer with the minimal degrees of access or permissions necessary to carry out their jobs and associated duties is governed by the principle of least privilege, often known as the least authority. Although privileged accounts are required for specific jobs, they should be used sparingly because the consequences could be devastating if a data breach affects such accounts.

Role-based access control (RBAC), or limiting access to sensitive data to those who need it, is an effective technique to lower the likelihood of internal and external data breaches. This identity and access management best practice can be used by granting access to a user for a set amount of time (for instance, 30 minutes), after which it will be immediately revoked. This type of micromanagement of access can raise the cybersecurity level as a whole.

Enforce a strong password policy

One of the cornerstones of an effective IAM approach has always been using strong passwords. The greatest ones should be simple to recall and difficult to predict. NIST suggests the following best practices for creating passwords.

  • The ideal length should be between eight to at least 64 characters.
  • Use special characters.
  • Avoid sequential and repetitive characters like (e.g., 12345 or zzz).
  • Set-up a password expiration policy.
  • Restrict the use of dictionary words as passwords.

Self-serve onboarding techniques

Your customers can sign up independently thanks to self-serve onboarding. A registration page is frequently where the onboarding process begins. Your objective is to move visitors from the registration to the activation page. Finally, it aids in your ability to keep them.

Gaining devoted customers will be simpler if you can better tailor your strategy to meet their wants. You can also successfully supply services in other areas, such as passwordless login, password reset, profile management, consent management, and preference management.

Comply with all regulations.

A further best practice for identity and access management is implementing data security rules and processes wherever appropriate and possible. Make sure you comply with all applicable laws and regulations, including the General Data Protection Regulation (GDPR), the California Consumer Privacy Act (CCPA), and other security standards like the Health Insurance Portability and Accountability Act (HIPAA).

Customers are particularly concerned about the security of their data. Their data is safe and in reliable hands, thanks to compliance with regulatory enforcement.

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Go passwordless

Authenticating customers without requiring them to input a password is known as passwordless login. Passwords are no longer required, which enhances the user experience overall. Passwordless websites also offer more robust protection against attacks like phishing, credential stuffing, and brute force, as well as easier access. Passwordless websites also save time and increase productivity.

There are several ways to achieve passwordless login. Among the frequent ones are:

  • Email-based login: Customers can log in using a special code that is delivered to the linked email ID.
  • SMS-based login: A special code that is delivered to the corresponding phone number allows customers to log in.
  • Biometrics-based login: Customers can sign in using biometric tools including iris, face, or fingerprint scans.
  • Social login: Customers can sign in using their already established social network identities on sites like Facebook, Twitter, or Google.

Conduct routine audits

When you grant someone access, it sometimes remains in place even after it is no longer necessary. Anybody with malicious hearts can gain access to this data and carry out a breach.

It is usually a good idea to choose regular access audits. You can look over the granted accesses to see if they are still necessary. You can handle such requests promptly when a customer asks for more access or wants to remove access.

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