From the Wires
Venafi Study: German Organizations Overlooking Critical Security Components
By: Business Wire
Oct. 11, 2018 08:12 AM
Venafi®, the leading provider of machine identity protection, today announced the results of a study on the state of machine identity protection in Germany. The study included responses from 305 security stakeholders who are responsible for encryption in German organizations.
According to the study, 92 percent of security professionals believe the protection of machine identities is a critical security component for their organization. However, only 42 percent say the protection of machine identities is given equal priority when compared to human identities.
“It’s great to see that organizations are beginning to realize their machine identities need to be protected,” said Jeff Hudson, CEO of Venafi. “After all, the digital transformation of business is completely dependent on machines, not people. However, we know businesses already spend over $8 billion a year protecting human identities and almost nothing protecting machine identities.”
The study also revealed a major gap in the confidence levels of executives responsible for setting machine identity protection priorities when compared with line managers and individual contributors who are responsible for carrying out this work.
Additional findings from the study include:
Machine identities govern the connection and communication of information between machines. To assure their unique identities, machines use keys and certificates – much like people employ usernames and passwords. Unfortunately, even though machine identities play a critical role in securing automated machine-to-machine communication, they are one of the least understood and weakly defended parts of company networks.
Compromised machine identities have a significant security impact on organizations. For example, cybercriminals can steal poorly protected code-signing certificates from legitimate companies and use them to sign malicious code. When signed with such a certificate, it doesn’t trigger any warnings, and unsuspecting users will mistakenly trust that the malicious code is safe to install and use.
“Unfortunately, we continue to see the same lack of prioritization of machine identity protection in every industry and every country around the world,” concluded Hudson. “Until businesses begin to understand how critical machine identity protection is to security and begin allocating resources to it, we’re going to continue to see successful, large-scale cyberattacks.”
Venafi is the cybersecurity market leader in machine identity protection, securing connections and communications between machines. Venafi protects machine identity types by orchestrating cryptographic keys and digital certificates for SSL/TLS, IoT, mobile and SSH. Venafi provides global visibility of machine identities and the risks associated with them for the extended enterprise —on premises, mobile, virtual, cloud and IoT — at machine speed and scale. Venafi puts this intelligence into action with automated remediation that reduces the security and availability risks connected with weak or compromised machine identities while safeguarding the flow of information to trusted machines and preventing communication with machines that are not trusted.
With over 30 patents, Venafi delivers innovative solutions for the world's most demanding, security-conscious Global 5000 organizations, including the top five U.S. health insurers; the top five U.S. airlines; four of the top five U.S., U.K., Australian and South African banks; and four of the top five U.S. retailers. For more information, visit: http://venafi.com.
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