More than 4 in 10 organisations suffer revenue loss from identity-related security issues 

More than 80% of organisations have fallen victim to identity-based attacks.

Almost half of the organisations (47%) who experienced an identity-related or permission-/entitlement/credential-related incident in the last 12 months have suffered either loss of revenue or customers, data from CyberArk showed.

Apart from the loss of revenue, more than half of organisations also had to pay compliance fees (55%) and had difficulty responding to or failing an audit (53%).

READ MORE: Only 1 in 10 companies in Singapore are prepared to address cybersecurity risks

Some (53%) said such incidents affected their ability to provide services.

Despite these business impacts, organisations are still holding back from optimising their strategy on identity-related security issues due to secure identities (38%) and the lack of cybersecurity staff (38%).