Introduction In the fast-paced realm of technology, cloud computing stands as a beacon of innovation, offering enterprises unprecedented opportunities to streamline operations and drive growth. By leveraging on-demand services over the Internet, businesses can access a wealth of resources spanning infrastructure, software, and platforms with unmatched flexibility and scalability. However, amidst the myriad of benefits that cloud computing affords, there are a persistent threat and security vulnerabilities. As cyber-attacks become increasingly sophisticated and prevalent, safeguarding sensitive data and applications in the cloud has become a paramount concern for organizations worldwide. In this context, understanding the nuances of multi-tenancy, which is a practice wherein cloud resources are shared among multiple organizations, becomes essential. While multi-tenancy enables cloud providers to optimize resource utilization and drive cost efficiencies, it also introduces unique se...
Identity and Access Management (or IAM) allow companies to identify individual network user roles and privileges. They order consumers to provide appropriate details, manage identification, accounts, and credentials automatically.
As we move into a new decade, the consumer identity and access management market will not only be more critical than ever but look different than it was a few years ago. In fact, it is also expected to grow from USD 7.6 billion in 2020 to USD 15.3 billion by 2025.
By 2021, your business must incorporate the following identity and access management best practices to succeed.
Some Cybersecurity Challenges Faced by Corporates Globally
- Phishing attacks: Phishing attacks are getting more and more sophisticated. Nowadays, because employees have grown to become more aware of hackers' phishing tactics, the latter has up their game. For example, cybercriminals are leveraging AI and machine language to deliver believable false messages in the expectation that recipients will unintentionally breach their organizations’ networks, systems, and corporate databases.
- Electronic Medical Records: Electronic Medical Records or EMRs are quickly becoming the next major objective for cybercriminals with hospitals and medical facilities digitizing patient records. In their security protections, hackers exploit several faults. And now that patients have almost all publicly available medical records, owing to the confidentiality of the records, EMRs are increasingly becoming breeding grounds for hackers.
- Cloud vulnerability: Due to the versatility & costs associated with the legacy data center, businesses are rapidly shifting their confidential data from legacy data centers to the cloud. According to a prediction by Forbes.com, 83% of enterprises' workload will be on the cloud by 2020. But then, it will be creating new challenges and worsening the existing ones for businesses. Among the top cloud security vulnerabilities in this row include account hijacking, DDoS attacks, data breach insecure interfaces and APIs, malicious insider threats, and misconfiguration.
- BYOD-related challenges: It turns out that bringing your own device or BYOD has its own range of business advantages and cybersecurity challenges. First of all, companies reap a lot of cost-saving by allowing workers to operate on their own computers. However, on the other hand, the pressure on safety systems has increased. Many leaks and malware infections have been found already. The tracking and management of various system types have proved much harder.
Refer to this article to learn in detail about the identity and access management best practices that all corporates must adopt in 2021
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