At 61%, significantly more than half of the German companies surveyed still use insecure practices when managing and using passwords. This is proven by the “2023 Identity Security Threat Landscape” study.
This is a key finding of the global study “2023 Identity Security Threat Landscape” by CyberArk. High-profile cyberattacks in which stolen employee logins are used to break into company IT systems are commonplace. The dangers are known and yet, according to the current CyberArk study “Identity Security Threat Landscape”, which provides a global inventory of cybersecurity, 61% of German companies still use insecure procedures when managing credentials. As a result, 61% of security managers surveyed confirm that their company's current processes and technologies do not effectively protect employees' highly sensitive access points. With 43% of employees having access to confidential company data, this poses a major security threat.
Many employees have access to confidential data
What is clear is that inadequate management of password security provides attackers with easy access to the corporate network. Above all, 71% of respondents are concerned that using traditional password managers, which are designed more for the consumer market, does not necessarily protect against security incidents. Cyber attackers know the vulnerabilities of password management. The most recent crypto heists were traced back to leaked login details that were stolen in a large-scale attack on a password manager tool in 2022.
“Without password security, companies are at high cyber risk. “It is therefore encouraging to see that 77% of German companies surveyed are looking for ways to improve password protection in the coming year,” explains Michael Kleist, Area Vice President DACH at CyberArk. “Ultimately, only a comprehensive, integrated identity security and zero trust strategy can provide reliable security. This securely authenticates identities and authorizes them with the correct permissions, giving them access to critical resources in a structured manner. The dilemma of insecure password procedures can also be eliminated in this way.”
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About CyberArk CyberArk is the global leader in identity security. With Privileged Access Management as a core component, CyberArk provides comprehensive security for any identity - human or non-human - across business applications, distributed work environments, hybrid cloud workloads and DevOps lifecycles. The world's leading companies rely on CyberArk to secure their most critical data, infrastructure and applications. Around a third of the DAX 30 and 20 of the Euro Stoxx 50 companies use CyberArk's solutions.