Credential Theft Is (Still) A Top Attack Method

guest · Aug 15, 2022

August 15, 2022

Credential theft is clearly still a problem. Even after years of warnings, changing password requirements, and multiple forms of authentication, password stealing remains a top attack method used by cyber criminals.

The latest report from the Ponemon Institute shares that 54% of security incidents were caused by credential theft, followed by ransomware and DDoS attacks. 59% of organizations aren't revoking credentials that are no longer needed, meaning passwords can go unattended and dormant like a sitting duck (similar to what happened with Colonial Pipeline). And Verizon's Data Breach Investigations Report cites that nearly 50% of all data breaches were caused by stolen credentials.
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Credential Theft and Critical Access
The Verizon report also states that stolen credentials are most often used to target some form of a web application. Web applications are one of the top attack vectors, according to the report, which is a problem considering organizations across industries are finding digital solutions and using internet-enabled technology to streamline operations.

We're in an evolving, digital era where companies can become more efficient, productive, and profitable by automating tasks and introducing new technology to their workflow. But, since a lot of that involves connecting devices to the internet and granting remote access to third-party vendors as we've just seen, it also means introducing risk at each access point.
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Organizations need to play catch-up when it comes to the security of their credentials, IoT, and third-party vendor connections. If they don't, they'll be playing a different kind of catch-up: remediating all the damage a bad actor has already done.
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Verizon: 2022 Data Breach Investigations Report

Gain vital cybersecurity insights from our analysis of over 23,000 incidents and 5,200 confirmed breaches from around the world—to help minimize risk and keep your business safe.
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View report online
Download the DBIR: https://www.verizon.com/business/resources/reports/2022/dbir/2022-data-breach-investigations-report-dbir.pdf

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Credential Theft Is (Still) A Top Attack Method

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