Security | Threat Detection | Cyberattacks | DevSecOps | Compliance

Imagine this: a sales representative at your company needs to update customer information in your CRM system. She enters her login credentials, but the system rejects them. After a frustrating series of password resets and calls to IT, she finally gains access. But her ordeal isn't over yet. She still needs to log into several other applications: the marketing automation platform, the customer support portal and the internal communication tool – each with its own unique username and password.

As we navigate through 2024, banking fraud continues to evolve, presenting new challenges for financial institutions. Driven by advancements in technology and changing economic conditions, these threats require banks to stay vigilant and adopt robust strategies to protect themselves and their customers.

When consumers get online, they enter a vast environment of potential threats. These threats may be after money, information, or network access, and cybersecurity defenses work to prevent these valuables from falling into criminals’ hands.

IAM is used to identify and manage user identities digitally across the whole company, while PAM only focuses on privileged access to sensitive systems.

KYC is a set of regulations that financial institutions and other businesses must follow to verify the identity of their customers. It’s about understanding who you’re doing business with and assessing any potential risks. KYC compliance helps to.

Travel fraud is a growing concern within the industry, posing significant challenges to businesses and consumers alike. As travel becomes increasingly digital, the opportunities for fraudsters to exploit online transactions and reservations have also expanded. Research from global Edgar, Dunn & Company, on behalf of eNett, said in total, fraud costs the travel industry over $21 billion dollars annually, including $6 billion dollars in damages and $15 billion in overheads.

You could have the strongest firewalls, encryption, anti-malware, vulnerability scanners, and risk management tools in the world and still leave one critical gap in your cybersecurity infrastructure — insider threats. And most of those threats come from poor identity management. But what, exactly, is good identity management? How do you pick the right identity provider for your organization?

Choosing the right identity and access management (IAM) solution is an important task. Organizations need to properly manage user accounts and other identities and ensure they have exactly the appropriate access to data, applications and other resources. After all, if users do not have all the rights they need, they cannot do their jobs and business processes suffer.

This is Part 10 in my ongoing project to cover 30 cybersecurity topics in 30 weekly blog posts. The full series can be found here. Identity protection is one of the most important topics in cybersecurity. It is often complex in its configuration and operation. Over 80 percent of all security incidents result from poor identity access controls. Consider the following recommendations when developing a comprehensive Identity Management strategy.

Our customers use Teleport to solve a wide range of problems: They access their infrastructure remotely without passwords or shared secrets, and replace shared credentials in CI/CD systems and workloads with mTLS. They eliminate the need for VPNs and enable Just-In-Time Access to web apps, cloud consoles, databases, and more.