The Power of Privileged Access Management: Why PAM is Essential

Understanding the Role of PAM in Safeguarding Your Organization

For businesses, secure connectivity is not just a convenience but a necessity, forming the foundation of every facet and function of operations. However, as technology has advanced, so too have the threats that come with it. This is where Privileged Access Management (PAM) becomes crucial.

The Growing Need for Security

AI’s recent and ongoing growth spurt has introduced advanced technological methods that can accurately mimic tasks previously accomplished only by humans, and AI can perform these tasks at a much faster speed. All of these advances in technology present a definite opportunity for businesses to leverage for strategic growth.

However, the current technological landscape introduces an undisputed and severe threat environment that bad actors constantly exploit to compromise businesses. Cybersecurity breaches are extremely common, and the damage is often highly detrimental to a business’s bottom line as well as its valuable reputation in competitive economic environments. According to research conducted by Duke University, over 80% of U.S. businesses (both big and small) fall victim to successful cyberattacks.

The average ransomware cost is $4.54 million, and these attacks occur 19 times each second! In addition to financial and legal burdens, a successful cybersecurity attack can lead to increased medical complications from cancelled surgeries and operations or identity theft—including that of children, as attackers target them because it takes longer to discover the crime. Cybersecurity insurance sales are on the rise as more companies realize it's not a matter of if but when they will be compromised.

Why is Privileged Access Management a Must?

Standing as a security solution to these debilitating attacks is Privileged Access Management (PAM). PAM secures companies from privileged attacks and attacks that attempt to elevate privileges. Nearly every successful cybersecurity attack involves privileged access. PAM aims to protect and defend against the root cause of nearly all cyberattacks. This explains why cybersecurity insurance companies often require their clients to have a PAM solution. Let’s explore some of the various ways PAM can protect your business.

By implementing robust PAM solutions, businesses can protect their digital assets, maintain the trust of their customers and partners, and stay compliant with industry regulations. This is why PAM is not just a luxury—it's a necessity.

Managing Privileged Accounts

Attackers target privileged accounts within an organization’s information system environment. These accounts often include domain administrator accounts, local administrator accounts, service accounts, application administrator accounts, break-glass accounts, and root accounts. Not managing these accounts at all, or managing them in local password managers, does not offer the best security, centralized visibility, and audit and compliance features.

PAM solutions provide scheduled, automatic password and SSH key rotations with complexity requirements and auditing. PAM offers various secret rotation methods to decrease the chances of a compromise and reduce the damage if a breach occurs. For example, a password can be automatically rotated after each use, or an approver can manually grant a user access to a password when needed.

Monitoring and Threat Detection

In addition to managing credentials for privileged accounts, when an end user attempts to use an account and credential to access a server or application, all activities can be monitored and recorded. PAM even offers automation tools to detect malicious activity and suspend or terminate access. It is also possible to hide all credentials from end users so they can access servers and applications without viewing the secrets.

Secure Remote Access

Remote workers, contract workers, and vendors often need secure access to servers and applications. This access needs to be monitored for threats, recorded, and must be VPN-less. PAM offers effective solutions for these needs.

Privileged Account Discovery

PAM offers solutions to discover privileged accounts. There could be thousands of unmanaged privileged accounts in an environment that the organization is completely unaware of. It is common for companies to use PAM discovery tools and find privileged accounts whose passwords have not been changed for years. This leaves hashes vulnerable to compromise, allowing hackers to launch various attacks, including pass-the-hash.

For example, there may be service accounts with interactive login capabilities or local SID 500 accounts whose passwords have never been rotated. It is truly a race between organizations and attackers to discover these vulnerabilities. Will they be discovered and corrected or discovered and compromised?

The other half of Discovery is automatically discovering accounts and managing them in the PAM solution. This automation can be highly customizable and ensures ongoing security.

Endpoint Privilege Management

Managing privileged accounts is critical, but managing endpoints is also essential. Preventing users from executing certain commands or running specific applications will significantly enhance an organization’s security. In addition to managing what users can do on their machines, EPM can help manage accounts that may exist on devices that are not always online, such as a laptop that frequently goes offline.

Just-In-Time Access

Standing privileges on an account can be a bad actor’s favorite toy in the sandbox. That is why PAM offers Just-In-Time access, which grants a user the permissions they need only when they need them, and then removes the privileged access.

This approach significantly reduces the window of opportunity for attackers to exploit any potential vulnerabilities. Additionally, JIT access helps in enforcing the principle of least privilege, ensuring that users have only the access they need, precisely when they need it, and not a moment longer. This proactive measure not only mitigates the risk of internal and external threats but also strengthens compliance with security regulations by minimizing unauthorized access.

Audit and Reporting

Every PAM solution includes reporting and audit capabilities for identity, governance, administration compliance, and management. The ability to have centralized visibility and control over privileged accounts and their secrets is paramount to an environment’s security.

With PAM's robust audit and reporting features, organizations can track all privileged access activities in real-time, enabling quick identification of any suspicious behavior. Detailed audit logs provide a transparent trail of actions taken by users, making it easier to investigate incidents and ensure accountability. Moreover, these reports are invaluable during security audits and for compliance with industry regulations. By maintaining a clear and comprehensive record of all privileged access events, PAM helps organizations not only secure their operations but also build a strong defense against potential legal and regulatory repercussions.

Top Privileged Access Management Solutions

When considering PAM solutions, it’s crucial to select the right tools that align with your organization’s needs. Here are some of the most effective PAM solutions on the market:

1. CyberArk Privileged Session Manager: A leading PAM solution that provides real-time monitoring and control over privileged sessions. It helps prevent unauthorized access and ensures compliance with industry standards.
2. IAM-PAM Integrated Systems: Combining Identity and Access Management (IAM) with PAM offers a comprehensive approach to security. This integration provides seamless access controls and strengthens your overall security posture.
3. Privileged Identity Management Tools: These tools focus on managing and monitoring privileged accounts, reducing the risk of misuse and ensuring that only authorized users have access to sensitive information.

Conclusion: Take Action to Secure Your Business

Many cybersecurity insurance companies require a PAM solution to be in place for coverage because they understand exactly what PAM does. PAM closes the exact holes and fills the specific gaps that bad actors need to exploit to launch a successful cyberattack. Filling these holes often completely shuts the door on an attack. In nearly every cyberattack, the bad actor strives to gain access to a system and move laterally within the system, searching for ways to elevate access. PAM is the best defense against the strategy behind nearly every cyberattack, and that is why it is a must-have for every organization.

Contact IDMWORKS to explore how our expert IAM and PAM solutions can safeguard your business. Let us help you build a comprehensive security strategy tailored to your unique needs—because in today’s digital landscape, security is not just an option, it’s a necessity.

Charles Troll, IDMWORKS, IAM Engineer