Over 3 in 5 IT firms lost revenues to stolen passes

67% had to endure operational costs from the attacks.

About 62% of IT firms admitted to losing revenues and paying penalties after a cyberattack called Pass the Hash (PtH) stole their log-in details, according to software firm One Identity.

In a typical PtH attack, an attacker obtains privileged log-in credentials and enters into a company’s IT system to access classified data.

More than half (67%) said that operational costs have been directly affected whilst 71% said attacks have distracted staff from work projects.

Although businesses suffered a direct blow to revenue from the cyberthreat, nearly 70% of IT securities expressed that they were not certain whether they've experienced a PtH attack, with 11% admitting that they have not taken necessary security measures.

Among the companies that have employed data security, a majority have turned to password management (64%), whilst others have resoluted to do the following: better controls over AD administrator access (40%), advanced PAM practices such as session audit and analytics (28%), and implementing Enhanced Security Administrative Environment (ESAE) (31%).