Singapore – Around 91% of organisations in Singapore faced two or more identity-related breaches over the past year, primarily due to the significant increase in machine identities resulting from the extensive use of multi-cloud and artificial intelligence. This is according to the latest report by global identity security company CyberArk.
In this report, approximately 59% of respondents defined privilege users as human-only, whereas only 41% involved all human and machine identities with sensitive access in their definition.
About 59% also defined privileged users as human-only, while only 41% defined privileged users as all human and machine identities with sensitive access.
Organisations in the city-state, on the other hand, anticipate an average growth of 2.5% in identities over the next 12 months.
Furthermore, the report expected an increase in both volume and complexity of identity-related attacks as malicious actors enhance their capabilities, with 93% also anticipating cyber risk to be created by AI-powered tools.
Meanwhile, only 70% were confident with how employees could detect deepfakes of the leadership in their organisations.
Additionally, 9 out of 10 organisations in the city-state have already experienced successful identity breaches due to phishing attacks or vishing attacks. Around 89% were further affected by successful ransomware attacks.
Vincent Goh, president and general manager of Asia Pacific and Japan at CyberArk, shared, “Many Singapore organisations can relate to the experience of identity-related breaches in the past year, in part due to the inadequate security controls for machine identities compared to human ones.”
“Machine identities will continue to expand the attack surface for cyber adversaries, especially with the acceleration in AI adoption. Organisations in the region need to adopt a holistic cybersecurity strategy to secure both human and machine identities to effectively defend themselves against cyber-attacks,” he added.
