93% Of Indian Organisations Had Two or More Identity-Related Breaches in the Past Year: CyberArk Report

CyberArk (NASDAQ: CYBR), the identity security company, today released a new global research report that shows how siloed approaches to securing human and machine identities are driving identity-based attacks across enterprises and their ecosystems. The CyberArk 2024 Identity Security Threat Landscape Report provides unique perspectives on how Artificial Intelligence (AI) boosts cyber defenses as well as attacker capabilities; increases the pace at which identities are created in new and complex environments; and highlights the scale of identity-related breaches affecting organisations.

Cyber Risk Rises as Machine Identity Security Treated Differently to Humans

While the quantity of both human and machine identities is growing quickly, the report found that security professionals rate machines as the riskiest identity type. In part due to widespread adoption of multi-cloud strategies and growing utilisation of AI-related programs like Large Language Models, machine identities are being created in vast numbers. Many of these identities require sensitive or privileged access. However, contrary to how human access to sensitive data is managed, machine identities often lack identity security controls, and therefore represent a widespread and potent threat vector ready to be exploited.

1. 93% of Indian organisations had two or more identity-related breaches in the past year.
2. Machine identities are the #1 cause of identity growth and are considered by respondents to be the riskiest identity type.
3. 50% of organisations expect identities to grow 3x in the next 12 months (average: 2.4x).
4. 53% of organisations define a privileged user as human-only. 46% of organisations define all human and machine identities with sensitive access as privileged users.
5. In the next 12 months, 83% of organisations will use three or more Cloud Service Providers (CSPs).

Widespread Use of AI to Battle AI and Complacency Takes Hold

Consistent with our 2023 report, the 2024 Threat Landscape Report found that nearly all (99%) of organisations are using AI in cybersecurity defense initiatives. Furthermore, the report predicts an increase in the volume and sophistication of identity-related attacks, as skilled and unskilled bad actors also increase their capabilities, including AI-powered malware and phishing. In related findings, counter to expectations, the majority of respondents are confident that deepfakes targeting their organisation won’t fool their employees.

1. 99% of organizations have adopted AI-powered tools as part of their cyber defenses.
2. 93% of respondents expect AI-powered tools to create cyber risk for their organisation in the coming year. 
3. 84% are confident that their employees can identify deepfakes of their organisational leadership.
4. 88% organisations have been a victim of a successful identity-related breach due to a phishing or vishing attack. 

"In today’s digital age, where identities proliferate at an unprecedented pace, machine identities are the silent players of our systems, serving as the cornerstone of innovation while being the weak link of security,” said Rohan Vaidya, Area Vice President, India & SAARC at CyberArk. “As we navigate this landscape, the CyberArk 2024 Identity Security Threat Landscape Report illuminates the urgent need to bridge the gap between human and machine identity security. With 93% of Indian organisations experiencing multiple identity-related breaches in the past year alone, it is evident that identity protection is the need of the hour. The reliance on AI in cyber defense becomes not just a strategic advantage but a necessity in combating AI-driven threats. In this era of increasing cyber risk, it is imperative that we unify our defenses, harnessing the power of AI while nurturing a culture of vigilance to safeguard against the ever-evolving threats to our digital identities,” he added.

“Digital initiatives to drive organisations forward inevitably create a plethora of human and machine identities, many of which have sensitive access and all of which must have identity security controls applied to them in order to guard against identity-centric breaches,” said Matt Cohen, Chief Executive Officer, CyberArk. “The report shows that identity breaches have affected nearly all organisations - multiple times in nearly all cases – and demonstrates that siloed, legacy solutions are ineffective at solving today’s problems. To stay ahead a paradigm shift is required, where resilience is built around a new cybersecurity model that places identity security at its core.”

Read the full report for further insight on what is behind human and machine identity growth, where related cyber risk lies and how AI is being used in cyber defenses. The report also details the consequences firms are facing from identity-centric cyber breaches and recommends methods of ensuring security practices keep up with wider organizational initiatives to reduce cybersecurity debt.

About the Report

The CyberArk 2024 Identity Security Threat Landscape Report was conducted across private and public sector organizations of 500 employees and above. It was conducted by market researchers Vanson Bourne amongst 2,400 cybersecurity decision makers. Respondents were based in Brazil, Canada, Mexico, US, France, Germany, Italy, the Netherlands, Spain, UK, UAE, Australia, India, Hong Kong, Israel, Japan, Singapore and Taiwan.

About CyberArk

CyberArk (NASDAQ: CYBR) is the global leader in Identity Security. Centered on privileged access management, CyberArk provides the most comprehensive security offering for any identity – human or machine – across business applications, distributed workforces, hybrid cloud workloads and throughout the DevOps lifecycle. The world’s leading organizations trust CyberArk to help secure their most critical assets. To learn more about CyberArk, visit https://www.cyberark.com, read the CyberArk blogs or follow on Twitter via @CyberArk, LinkedIn or Facebook.