4 ways that integrated access security helps in the fight against ransomware

Ransomware represents one of the most significant cybersecurity threats your organization will face. Here’s how integrated access security solutions can alleviate the risks associated with it.

According to a 2022 IBM Report, the global average cost of a ransomware attack is $4.35 million – and that’s without factoring in the actual ransom payment. Hackers are using ransomware to target multiple industries to damage organizations in exchange for a hefty payout.

A ransomware attack can do more than just impact you financially, however. It can also disrupt your operations indefinitely while leading to a loss of trust from your customers.

How you grant and manage access to your systems impacts your vulnerability to a ransomware attack, so it’s imperative that you have an integrated approach to security access to help you decrease the chances of a ransomware attack hurting your organization.

1. Integrated access security improves your overall security posture

Your ability to stay secure against ransomware depends on the strength of your security plans, processes, and tools. Integrating your access security solutions bolsters your overall security levels, making it harder for ransomware attacks to penetrate your networks and systems. And you can best achieve this by having a single, comprehensive set of centrally-managed solutions.

So, which specific security areas will an integrated approach help you fortify? Below are a few examples of potential risks:

• Access risks such as an increasing number of managed credentials
• Accountability for shared credentials, particularly without a privileged access management (PAM) solution in place
• Exposure to attacks invited by static or reused passwords
• Organizational expansion as you look to scale, adding new touchpoints with varying levels of vulnerability

If your organization isn’t addressing these concerns, you increase the likelihood of a ransomware attack damaging your systems or network. An integrated access security solution has answers for each of those threats.

2. Integrated access security delivers all your security needs in one suite

To achieve true safeguarding against ransomware threats, your organization will want to implement three core functionalities:

• Privileged access management
• Vendor privileged access management (VPAM)
• Identity governance

These features create a more secure enterprise environment for your employees and vendors, protecting them against cyber threats such as ransomware attempts or phishing attacks. Using features such as privileged credentialling, multifactor authentication, a least privilege access model, and more, your integrated solution set can deliver all your security needs in one place.

You’ll also find that cybersecurity insurance providers look for specific technologies (such as having the right PAM solution) when setting your coverage premiums. They’ll specifically look for a PAM solution that provides the following:

• Password and account management
• Multifactor authentication
• Application-to-application password management
• Robust auditing and governance, as well as regulatory compliance

The right PAM solution does more than just secure you from a ransomware attack – it also puts cyber insurers at ease. That leads to cost savings when it comes time to pay for your policy.

3. You’ll have the tools you need for a comprehensive ransomware response strategy

You’ll want to have a well-aligned, organized set of tools in place prior to a ransomware attack occurring. That means having the capabilities and tech stack required to be both proactive and reactive.

When you have the right tech stack in place, you’ll find it much easier to develop a comprehensive strategy for preventing and responding to ransomware attacks. Hackers are always on the offensive, exploring new methods for infiltrating your systems. Third-party vendors represent one of the most obvious vulnerabilities for them to exploit.

Integrated security solutions enable better management and monitoring of vendor activity, which allows for a more effective ransomware strategy.

4. Integrated access security helps you deliver users the access they need, and nothing more

When it comes to identity governance, one of the most significant risks organizations face is an individual having either outdated or inappropriate access. Poor onboarding procedures, one-off projects, and growing business demands can often cause this.

When a user has the wrong permissions, this creates a serious threat to your organization’s overall security. The individual becomes a dangerous attack vector that hackers can exploit.

How do you strike a balance between users having access they need without granting too much and creating a security vulnerability? Take the “least privilege” approach to identity governance. This approach recommends providing all users with the minimum amount of access needed to perform their job duties.

An integrated security solution with identity governance capabilities will allow you to identify orphaned accounts, manage access rights, enable certification campaigns and perform regular audits of user access across the enterprise.

Ultimately, integrating your access security solutions protects your organization, your employees, and your vendors. And it equips you with the tools you need in the event of a ransomware attack.

Interested in learning more about how an integrated security solution can defend your organization from a ransomware attack? Download our eBook, “Stop ransomware in its tracks with integrated access security solutions” today.