Cybercriminals want your credentials and your employees’ credentials. When those hackers succeed in stealing that information, it can be bad for individuals – and even worse for corporations and other organizations. This is a scourge that’s bad, and it will remain bad.
Credentials come in two types. There are personal credentials, such as the login and password for an email account, bank and retirement accounts, credit-card numbers, airline membership program, online shopping and social media. When hackers manage to obtain those credentials, such as through phishing, they can steal money, order goods and services, and engage in identity theft. This can be extremely costly and inconvenient for victims, but the damage is generally contained to that one unfortunate individual.
Corporate digital credentials, on the other hand, are the keys to an organization’s network. Consider a manager, executive or information-technology worker within a typical medium-size or larger-size business. Somewhere in the organization is a database that describes that employee – and describes which digital assets that employee is authorized to use. If cybercriminals manage to steal the employee’s corporate digital credentials, the criminals can then access those same assets, without setting off any alarm bells. Why? Because they have valid credentials.
What might those assets be? Depending on the employee:
- It might range from everything to file servers that contain intellectual property, as pricing sheets, product blueprints, or patent applications.
- It might include email archives that describe business plans. Or accounting servers that contain important financial information that could help competitors or allow for “insider trading.”
- It might be human resources data that can help the hackers attack other individuals. Or engage in identity theft or even blackmail.
What if the stolen credentials are for individuals in the IT or information security department? The hackers can learn a great deal about the company’s technology infrastructure, perhaps including passwords to make changes to configurations, open up backdoors, or even disable security systems.
Read my whole story about this —including what to do about it — in Telecom Times, “The CyberSecurity Scourge of Credentials Theft.”