What is PAM

Privileged Access refers to the special capacity and access that goes further than a regular user with limited access to data.

Policies and strategies are used in order to control, monitor and manage access with the aim to secure delicate information.

Regardless of the size of your organization, a good access management solution implemented protects you from cybersecurity threats that are a result of outsider or insider attacks, and it also protects accidental breaches which happen due to negligence or accidents. PAM strategies enforce the principle of least privilege, restricting account creation and permissions to the minimum level a person requires to do a job. PAM is a component of the Identity and Access Management solution. It focuses on account privileges and restriction of cyber activities of accounts.
According to a Ponemon Institute research, 85% of all hacking incidents are due to insider breach. This means users who have access to the system either violated their rights on purpose or neglected their duties or accidentally caused harm. Privileged Access Management mainly focuses on the users of the system, monitors and controls their access to data. As a basic example, since businesses have delicate data it is not desirable to share it with every employee. Therefore, restricting the access of a new associate level employee to the delicate data and only allowing the high level managers to access increases data security by folds. PAM also provides a prohibition of command function so that the users can be blocked from doing certain changes in your data.
The overall cost of insider threat also increased by 31% in 2020
Tracing the source of the incidents makes the most of the costs. A big problem with hacking incidents is finding the culprit behind the crime. Whether it is intentional or accidental, tracking the source of the attack is mostly impossible. However, with PAM, it is very easy to find the source of the attack since every move is monitored and recorded.