Identity & Accesses Management Is defined as policies, processes and technologies used for managing accesses to information systems, safeguarding digital data and tracking system activities. However, rise in data breach incidents and identity theft cases is expanding globally has forced the industry to redefine the growing field of identity management. The foremost importance of Identity and access management in information security is to ensure that legitimate parties have the right access to the right resources at the right time while keeping illegitimate parties out of systems. Company constantly faces the threat consequences like unauthorized access and fraudulent transaction
The legitimate parties who have been granted system access pose the greatest risk because they are often theft targets of hackers i.e. the easiest way for hackers to gain access to a system is to steal an existing access. Most of hacking and data breach incidents root cause is phishing emails. Consequences of poor identity management are enormous. Financial losses, personal business data theft reduced productivity, damaged reputation, non-compliance with regulations.
Another importance is the area, where the parties who have authorized access to perform tasks are often the ones that are well positioned to commit fraud and cover their tracks to avoid or delay detection. The Identity and Access Management solution can be leveraged to monitor user activities and detect unusual transactions based on predetermined criteria.