Privileged accounts are the ones that have elevated access to critical systems and data and can act as a tempting target for malicious actors. Therefore, a single compromised privileged account in cybersecurity can have devastating consequences such as data breaches and financial losses.
This is where Privileged Access Management (PAM) comes in. Let’s explore what it is and why you need it.
What Is Privileged Access Management?
Privileged Access Management (PAM) is a cybersecurity strategy that allows you to secure your accounts with elevated access to critical systems and data within an organization.
It is a layered approach that allows you to combine tools and processes to reduce the attack surface, prevent unauthorized access through techniques like multifactor authentication and secure password storage (vaults), monitor and record activity, and provide granular permissions based on specific needs.
The world we live in today is digital, and PAM is becoming important because of several factors. Some of them are discussed below.
- Cloud computing is rising, and managing privileged access across these disparate environments becomes complex without a centralized system.
- Maintaining control and visibility over the growing use of automation and IoT is challenging.
- Cybercriminals are constantly refining their targets, and privileged accounts are a prime target.
How Does PAM Work
PAM works by implementing a layered approach that combines security tools. Some of the main mechanisms involved in the process include:
- Vaulting – PAM solutions store privileged account credentials (usernames and passwords) in a secure, encrypted vault. This way, users do not have to store them on local machines or share them openly.
- Provisioning and Deprovisioning – This means that PAM provides a rational means of creating privileged accounts that only allow the right users to access them and deactivating the account should one not be in use anymore.
- Least Privilege – PAM enforces the principle of the least privilege by granting users only the minimum level of access required to perform their jobs.
- Role-Based Access Control (RBAC) – Permissions are assigned based on user roles and ensure that users can only access the resources and perform the actions their role necessities.
- Mutli-Factor Authentication (MFA) – Another form of protection that enhances the use of passwords is the MFA because, in addition to the password, the user also enters the second level of security which may be a code from the authenticator app.
- Session Management & Recording – PAM also enables you to track and manage privileged user’s sessions such as recording the activities, and session durations. This also monitors and records privileged user sessions and enables payback and analysis in the event of a security breach or an audit.
Benefits Of Implementing PAM
Now that you are familiar with what is privileged access management, let’s look into the different benefits you can achieve by implementing it.
Improved Security
PAM limits the number of privileged accounts and restricts access to make it harder for attackers to find and exploit vulnerabilities. Moreover, PAM uses multifactor authentication (MFA) and other advanced methods to reduce the risk of unauthorized access.
Additionally, with PAM, you get real-time tracking of privileged user activity that helps in identifying suspicious behavior and investigating potential breaches quickly.
Better Compliance
PAM solutions are a great way to let organizations comply with various data security regulations like PCI DSS and HIPAA. It provides detailed audit trails and access control mechanisms that meet compliance requirements.
Furthermore, PAM allows you to demonstrate to auditors and stakeholders that you have a robust system for managing privileged access and protecting sensitive data.
Reduced Risks
Disgruntled employees or those with malicious intent can pose a threat. PAM helps avoid this risk as it monitors privileged activity and enforces access controls. The ability to misuse their access gets limited.
PAM helps ensure the availability of critical systems and data and minimize downtime and potential financial losses. This helps prevent unauthorized access and mitigate the impact of breaches.
Operational Efficiency
Privileged Access Management (PAM) solutions automate many manual tasks associated with managing privileged accounts, such as provisioning and password resets. This frees up IT staff to focus on more strategic initiatives.
Moreover, with streamlined access management processes, authorized users can access the resources they need to perform their jobs efficiently without unnecessary delays.
Centralized Control
PAM provides a central location to manage all privileged accounts. It simplifies administration and improves visibility into access rights.
Scalability
PAM solutions can scale to accommodate your organization’s growth and ensure continued security as your privileged user base expands.
Who Needs PAM
Do not think that you need Privileged Access Management (PAM)? You could be wrong as it is a crucial security tool for different organizations. Here are some Privileged Access Management use cases.
- Banks and investment firms hold a great deal of sensitive customer data. This can make them prime targets for cyberattacks. PAM allows protection against unauthorized access to financial systems and ensures that it complies with regulations like PCI DSS.
- Healthcare providers have patient data that is sensitive and subject to strict regulations like HIPAA. PAM helps healthcare organizations comply with these regulations by safeguarding patient information.
- Government agencies manage a great deal of data like national security information. PAM plays a huge role in ensuring national security.
- Energy and utility companies manage critical infrastructure that is vital for national security and public safety.
- Retailers also collect important customer data like credit card information. PAM helps protect this data from breaches.
In simple terms, if your organization has:
- Sensitive data (financial information, medical records, etc.)
- Critical infrastructure (power grids etc.)
- Privileged accounts
- Remote workforce
It is a wise decision to improve security through implementing PAM.
How To Choose The Right Privileged Access Management
If you think that your organization needs Privileged Access Management, it is important to choose the right PAM solution. Here are the different factors that you have to consider.
- Understand the needs of your organization and the number of privileged accounts you have. You should know what type of data these accounts access.
- You have to identify what relevant data security regulations your organization needs to comply with.
- Look for granular access controls that allow you to assign permissions based on the principle of least privilege.
- You have to evaluate features like session recording and session termination capabilities.
- The PAM solution should have an intuitive and user-friendly interface for both administrators and privileged users.
- Make sure that the PAM solution can accommodate your future growth and increasing number of privileged accounts.
- Many vendors offer Proof of Concept (POC) to allow you to test-drive the solution and assess its fit for your environment.
- You have to check how well the PAM solution integrates with your existing security tools like SIEM and IAM.
Conclusion
The world is slowly becoming completely digitized, and it is now more than important to have Privileged Access Management. With the help of PAM, you can secure the critical assets of your organization. It is for sure an investment that pays off in the form of improved security and compliance. Consider factors such as the needs of your organization and integration capabilities to streamline privileged access management.
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