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The ‘Great Resignation’ is Creating a New Cybersecurity Problem: Missing Passwords

June 9, 2022 Leave a comment DRI Admin

Mission-critical passwords are walking out the door with employees, leading to new business continuity headaches for nearly a third of organizations.

Have you considered your organization’s password management strategy? Now is the time to look at it – a recent Pulse/Hitachi ID survey found that 29% of the 100 IT and cybersecurity professionals polled had experienced an incident in the past year where they lost access to product systems after an employee left the organization.

When asked out confident they were that an employee could take enterprise passwords with them when leaving the company, only 5% said they were extremely confident that wouldn’t happen. The majority – 63% – were only “slightly confident.” And 51% said they were “slightly confident” they could maintain business continuity by transferring credentials and terminating access if they had to urgently terminate an employee.

Changing telework practices are also contributing to the issue, as password storage has become increasingly decentralized. 46% of respondents said they primarily store passwords on shared office documents, which is often the cause of data breaches and ransomware attacks.

Other storage strategies:

  • Company-provided password manager – 30%
  • Personal password manager – 15%
  • Physical notes (sticky notes, notebook, etc.) – 8%
  • Other – 1%

The takeaway: if you’ve seen an uptick in employees heading for greener pastures over the past couple of years, it’s definitely time to boost your password management training efforts.

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