Venafi Study: German Organizations Overlooking Critical Security Components

Only 42% of German organizations say the protection of machine and
human identities are given equal priority

SALT LAKE CITY–(BUSINESS WIRE)–#CybersecurityVenafi®,
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:

  • Eighty-two percent of executives believe their organizations
    adequately protect the machine identities of Internet of Things
    devices while only 24 percent of individual contributors expressed
    similar confidence.
  • Eighty-one percent of executives feel their organizations adequately
    protect containers, but just 40 percent of individual contributors
    agree.
  • Ninety-three percent of executive respondents believe their
    organizations have invested sufficient money and resources to protect
    machine identities over the last year, compared with 61 percent for
    managers and 62 percent for individual contributors.

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.”

Resource:

RESULTS:
Venafi German Security Survey

BLOG:
Venafi Research: How Well Are German Organizations Protecting Their
Machine Identities?

About Venafi

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.

Contacts

Venafi
Shelley Boose, 408-398-6987
shelley.boose@venafi.com

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