Visibility of network access can secure your IP, writes Stuart Facey, pictured, VP EMEA at IT access product company Bomgar.
Cybercrime is increasing in its sophistication, with the make-up of each attack becoming more intelligent. From targeted spam and phishing attacks, to insider threats and third party vendor access, it is creating a truly knotty network for organisations of all sizes that’s becoming incredibly difficult to appraise and manage.
One particular vulnerability that is often overlooked is the gap in many organisations’ ability to limit their exposure to cyber-attacks that are sourced from hacker’s ability to piggy back on third-party vendor access. Third-party vendors play a vital and growing role in supporting organisations’ systems, applications, and devices. Recent research from Bomgar revealed that on average 89 third-party vendors access a typical company’s network each week, with the number likely to grow. Three quarters (75 percent) of respondents also stated the number of third-party vendors used by their organisation has increased in the last two years, with 71 percent believing the numbers will continue to increase in the next two years.
A high level of trust is placed on these third-party vendors within an organisation, however there is very little visibility or control over what they’re doing when connected to the company’s network. The combination of dependence, trust, and lack of control has created the ‘perfect storm’ for security breaches across companies of all sizes. Hackers can compromise and pose as a legitimate vendor, gaining unfettered access to an organisation’s IT network for weeks or even months. This then allows hackers the time to move around a network, identify or steal sensitive data and even shut down critical systems.
An ideal depiction of vendor vulnerability was highlighted in the highest profile case of vendor caused breach in 2013 with US retailer Target. Hackers managed to gain access to the Target system via a third-party air-conditioning company, who was given unrestricted and unmonitored access to Target’s network. The hacker then integrated malware into the payment system of its stores, enabling them to steal details from every credit card used at the company’s 1797 US stores during a crucial holiday period. This totalled cost the company a total of $252million as well as significant reputational damage.
However, it’s not just US companies such as Target that are at risk. It’s estimated that the cost of cybercrime to the UK could be up to £27bn per annum with a significant proportion, £9.2bn per annum, coming from the theft of intellectual property (IP) from UK businesses. A massive proportion of cyber-attacks are due to weak access points in IT networks that can be exploited by hackers, providing them with a stepping stone into an organisation’s IT infrastructure. A route to alleviating these vulnerabilities is through the deployment of privileged session and account management (PAM) solutions, that are designed to monitor and control all access to IT systems and limit access dependent on a user credentials or to approved specific access requests. Organisations that have the insight and a clear and concise understanding of who is accessing what on their network significantly reducing the risk of a detrimental breach. PAM solutions can be quick to deploy and are easy to use, allowing companies of all sizes to immediately gain control of vendor access and identity any anomalies or potential threats.
Protecting a company’s most critical assets from the volcanic cybercrime industry has never been more vital. Without the ability to granularly control access and establish an audit trail of who is doing what on its network, an organisation cannot protect itself from third-party vulnerabilities. It is only when access is secured that organisations are able to truly reap the benefits of using third parties in the business ecosystem.
