BeyondID Report Highlights Identity Credentials as Cybercrime Currency

BeyondID has released a new report revealing that identity credentials are now the primary currency in the global cybercrime economy, announced in a press release. The report, titled "The Identity Economy: How Gaps in Identity Management Enable and Sustain Cybercrime," emphasizes the urgent need for organizations to adopt identity-first security strategies.

The report details how attackers exploit weaknesses in identity and access management (IAM) systems, with identity credential theft impacting over 90% of companies. It highlights that attacks using stolen credentials are not only the most common initial vector but also the longest lasting, with an average detection time of 10 months.

BeyondID's CEO, Arun Shrestha, stresses the importance of recognizing identity as a critical component of cybersecurity. The report introduces the concept of Identity Exploit Vectors (IEVs), which are systemic weaknesses in IAM practices that attackers frequently exploit. It also provides actionable steps for organizations to close these gaps and strengthen their defenses against AI-powered threats.