Despite Rise in Cyber Threats, Businesses Still Lack Strong Identity Protection

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The latest Version of Microsoft Research’s research report regarding threat and data research has revealed that, despite threats growing rapidly over the last couple of years, strong authentication for identification has had an unpopularity rate for adoption, such as multifactor authentication or passwordless alternatives.

In study that only 22 percent Azure Active Directory users of Microsoft’sCloud IdentitySolution, Azure ActiveDirectory users had implemented a strong identity authentication by the end of December 2021.

The report emphasizes the loss of usernames and passwords through hacker. It was reported that the cost 1000 stolen passwords as well as a password pair is approximately $0.97 The report further states that the theft of 400 million usernames and passwords could cost cybercriminals 150USD.

The report also stated it was reported that theft of passwords and usernames is increasing especially within Africa which is the area where companies are more vulnerable to cyberattacks than any other across the globe. It also referred to another study that has classified Nigeria as the 3rd Africa and reported 16.7million cyberattacks. South Africa ranked 1st with 32million cyberattacks. It was followed closely by Kenya with 28.3 million.

But, the potential for security breaches are at the forefront of the heads of 64percent of the businesses operating in the Middle East and Africa (MEA) as per current Research conducted by Microsoft and IDC.

Microsoft announces that the publication of its most recent Report on Data and Threats. It will allow businesses in Nigeria to keep a closer eye on digital identity and make sure that users’ identities are protected with added security is essential to take into consideration for age range of 6-18 in the near future for 60 percent of businesses that have MFA.

It also stated that, while acknowledging the dangers of remote work and the growing digitization 75percent of the companies within MEA are investing hugely in access and identity management.

The report Microsoft gave specific instructions on how to implement zero-trust methods to lower risk. Microsoft in its report advised companies to focus on zero-trust strategies, including Multi-Factor Authentication (MFA) and password-related updates to serve as the security base. It also noted that they could start in the process of creating privilege accounts in order to protect their accounts swiftly and then increase the security by adding additional accounts.

It offered ways to stop accounts from falling in improper hands. It also stated that it was crucial to make sure that MFA is an essential weapon in the fight against.

The study says “By taking this step, you’ll ensure that your business decreases the chance of passwords falling into the improper hands. There’s a way to take it one step further, eliminating passwords and , in the process taking administrative privileges off via MFA that is secure and password-free.

“Though passwords pose a serious security risk they’ve always been the most important security measure in every aspect of our lives online. It’s expected that users make complex secure passwords which are distinctive, track of their passwords, and change them frequently, but it’s complicated, and no one wants to do it. A secure future with no passwords is a better one. “

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