In today’s digital age, high-tech companies often enjoy a perceived advantage when it comes to security. With young and tech-savvy employees, they are seen as more equipped to handle cybersecurity challenges. However, recent incidents have shown that even these companies are vulnerable to breaches. This blog post highlights the need for high-tech companies to prioritise SaaS security to protect their proprietary code, customer data, and employee records.
App Breaches: A Recurring Story:
The recent breach of Slack’s GitHub repository serves as a stark reminder that no high-tech company is immune to attacks. Stolen tokens allowed threat actors to access and download code, potentially compromising sensitive information. Similar incidents have been reported with other SaaS applications, such as Heroku, Travis CI, MailChimp, SevenRooms, PayPal, and Atlassian. These breaches emphasise the importance of securing proprietary code and data stored within SaaS applications.
Reliance on SaaS Applications:
A wide range of SaaS applications streamline the operations of high-technology companies. These apps span various functions, including collaboration, sales and marketing, finance, and cybersecurity. While they enhance efficiency, they also pose a challenge for security teams due to the complexity of securing the entire stack. Additionally, tech employees frequently access SaaS apps from multiple devices, increasing the risk of compromised access.
Controlling SaaS Access After Layoffs:
In the high-tech industry, periods of growth are often followed by downsizing and layoffs. Proper deprovisioning of employees from SaaS applications becomes crucial during these transitions. However, automated offboarding processes may not cover all SaaS applications, particularly those not connected to the company directory or with separate admin accounts. This oversight can leave access points open, potentially leading to unauthorised access.
Organic Hyper Growth and M&As:
The high-tech industry is also characterised by frequent mergers and acquisitions. During these times, it becomes essential for the acquiring company to establish a robust baseline for SaaS security. Monitoring and securing the SaaS stacks of merged or acquired companies is necessary to ensure business continuity. Organisations must efficiently manage access rights for users in rapidly scaling environments, whether due to organic growth or M&As.
Identity Threat Detection & Response:
Stolen credentials and tokens remain the primary cause of data breaches in high-tech companies. Threat actors exploit valid user credentials to gain unauthorised access. Identity Threat Detection and Response (ITDR) plays a vital role in identifying suspicious activities that may go unnoticed. Implementing a SaaS Security Posture Management (SSPM) solution with ITDR capabilities allows for the timely detection of indicators of compromise, such as geolocation anomalies, excessive login attempts, and unusual user behaviour.
Securing High Tech’s SaaS:
Maintaining a high SaaS security posture is a challenging task for high-tech companies. The misconception that they are inherently better equipped to handle SaaS attacks can leave them vulnerable. SaaS Security Posture Management, coupled with Identity Threat Detection and Response capabilities, is crucial for preventing SaaS breaches and safeguarding valuable data.
The notion that high-tech companies are impervious to security breaches is a fallacy. Recent incidents have demonstrated the need for these organisations to prioritise SaaS security to protect their assets. By implementing SaaS Security Posture Management solutions and leveraging Identity Threat Detection and Response capabilities, high-tech companies can ensure the security of their proprietary code, customer data, and employee records.In order to stay ahead of evolving cyber threats, we need to be vigilant and proactive.