New Research from CyberArk Reveals Security Risks Introduced by Everyday Employee Behaviors

Rhea-AI Summary

CyberArk (NASDAQ: CYBR) has released new research highlighting security risks posed by employee behaviors. The study surveyed 14,003 employees across six countries and revealed that:

• 80% access workplace applications from personal devices lacking security controls.
• 40% habitually download customer data, and over 30% can alter sensitive data or approve large transactions.
• 49% reuse login credentials across multiple applications, while 52% have shared confidential information externally.
• 65% bypass cybersecurity policies for convenience.
• 72% use AI tools, but 38% do not follow guidelines for handling sensitive data.

Additional research from CyberArk Labs shows that individual browsing history can be exploited by attackers, increasing organizational risks. The findings emphasize the need for robust identity security programs with dynamic privilege controls.

Positive

• CyberArk's research highlights the urgent need for improved identity security, which could drive demand for their solutions.
• The report identifies common security risks, potentially positioning CyberArk as a thought leader in cybersecurity.

Negative

• The widespread risky behaviors identified in the survey suggest significant vulnerabilities in current security practices, which could lead to breaches.

Insights

Cybersecurity Analyst

The survey reveals critical security vulnerabilities in workplace practices that could significantly impact CyberArk's market position and growth strategy. With 80% of employees accessing sensitive data from personal devices and 65% bypassing security protocols, organizations face heightened risks of data breaches. The findings validate CyberArk's business model and market opportunity, particularly in identity security solutions.

The research highlighting widespread AI tool adoption (72%) and poor security practices around sensitive data handling creates additional market opportunities. These insights strengthen CyberArk's competitive position in the privileged access management space and suggest potential revenue growth from expanded security solutions addressing these specific vulnerabilities.

Market Research Analyst

This research strengthens CyberArk's market positioning by quantifying the urgent need for enhanced identity security solutions. The large sample size (14,003 employees) across six major markets provides credible data that highlights significant market opportunities. Key findings about password reuse (49%) and privileged access risks demonstrate a clear market gap that CyberArk can address.

The timing of this research, coupled with growing AI adoption concerns, positions CyberArk to capitalize on emerging security challenges. This could drive increased enterprise spending on identity security solutions, potentially boosting CyberArk's market share and revenue growth in the coming quarters.

Privileged access combined with worrisome worker actions compound security risks for organizations

NEWTON, Mass. & PETACH TIKVA, Israel--(BUSINESS WIRE)-- CyberArk (NASDAQ: CYBR), the global leader in identity security, today announced the results of new employee research that highlights the need to shift to a model where workforce access is not just managed, but secured. Driven by hybrid working and flexible access trends, a multi-country report reveals how many common employee sensitive and privileged data access behaviors – deliberate and accidental - put organizations at risk. In parallel, new research from CyberArk Labs shows how one’s online history can be a threat to employers as well as to personal lives.

Four Key Findings of CyberArk 2024 Employee Risk Survey: Harmful Employee Behaviors

Based on a survey¹ of 14,003 employees working in all major types of job roles and vertical industries across the USA, UK, France, Germany, Australia and Singapore, the report reveals insights into prevalent employee behaviors and data access patterns. It shows that security teams must rethink how identity security controls are applied to the modern workforce.

1. Majority Have Access to Sensitive Information: 80% access workplace applications - which often contain business-critical data - from personal devices that frequently lack adequate security controls. The survey confirms that privileged access is no longer confined to IT admins. 40% of respondents indicated they habitually download customer data; a third are able to alter critical or sensitive data; and just over three in 10 can approve large financial transactions.
2. Password Reuse Is Common: The report highlights several worrisome habits. 49% of employees surveyed use the same login credentials for multiple work-related applications, while 36% use the same credentials for both personal and work applications. 52% of those surveyed have shared workplace-specific confidential information with outside parties. These practices significantly heighten the risk of security leaks and breaches.
3. Majority Bypass Cybersecurity Policies: 65% of employees often bypass cybersecurity policies to make their lives easier. Common workarounds include using personal devices as WiFi hotspots and forwarding corporate emails to personal accounts.
4. AI Adoption Creates More Security Challenges: The report also sheds light on the growing use of AI tools in the workplace. Over 72% of employees use AI tools, which can introduce new vulnerabilities when, for instance, sensitive data is inputted into them. Over a third (38%) of employees either ‘only sometimes’ or ‘never’ adhere to guidelines on handling sensitive information in their use of AI tools.

New CyberArk Labs Research: “White FAANG”

“White FAANG: Devouring Your Personal Data” is new research from CyberArk Labs that shows how the individual browsing and internet history of individual employees can present cyber issues for their employers, as well as to personal lives. Detailing how individual browsing history data - downloaded from technology giants like Apple and Meta - is easily stolen, it shows how an attacker might abuse this extensive information trove to serve as, for example, an attack vector into employer organizations.

The combination of worrisome employee actions and attackers’ ability to steal and capitalize on browsing history and internet usage increases risk for organizations. By implementing a robust identity security program with dynamic privilege controls at every user checkpoint, security teams can prevent attackers from gaining access to sensitive and privileged information without adding unwanted friction into workplace processes.

“For far too long, the standard approach to workforce access security has been centered around basic controls like authentication via single sign on. This ignores the reality of the modern worker and the changing nature of identity: the average employee can be a casual workforce user and, the next moment, a privileged account,” said Matt Cohen, CEO at CyberArk. “These findings show that high-risk access is scattered throughout every job role and bad behaviors abound, creating serious security issues for organizations and highlighting the pressing need to reimagine workforce identity security by securing every user with the right level of privilege controls.”

Further reading:

- CyberArk 2024 Employee Risk survey
- New CyberArk Labs research: “White FAANG: Devouring Your Personal Data”

¹Research was conducted by Censuswide among a sample of 14,003 employees who use a computer for work in the UK, USA, France, Germany, Australia and Singapore. The data was collected between October 17 and 25, 2024. Censuswide abides by and employs members of the Market Research Society and follows the MRS code of conduct and ESOMAR principles. Censuswide is also a member of the British Polling Council.

About CyberArk

CyberArk (NASDAQ: CYBR) is the global leader in identity security. Centered on intelligent privilege controls, CyberArk provides the most comprehensive security offering for any identity – human or machine – across business applications, distributed workforces, hybrid cloud environments and throughout the DevOps lifecycle. The world’s leading organizations trust CyberArk to help secure their most critical assets. To learn more about CyberArk, visit https://www.cyberark.com, read the CyberArk blogs or follow on LinkedIn, X, Facebook or YouTube.

Copyright © 2024 CyberArk Software. All Rights Reserved. All other brand names, product names, or trademarks belong to their respective holders.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241203942566/en/

Investor Relations:

Srinivas Anantha, CFA

CyberArk

617-558-2132

ir@cyberark.com

Media:

Nick Bowman

CyberArk

+44 (0) 7841 673378

press@cyberark.com

Source: CyberArk

FAQ

What did CyberArk's 2024 Employee Risk Survey reveal?

The survey revealed that 80% of employees access workplace applications from personal devices lacking security controls, and 65% bypass cybersecurity policies.

How prevalent is password reuse among employees according to CyberArk's research?

49% of employees reuse login credentials for multiple work-related applications, and 36% use the same credentials for personal and work applications.

What new vulnerabilities are introduced by AI tools in the workplace?

Over 72% of employees use AI tools, but 38% do not follow guidelines on handling sensitive information, introducing new security challenges.

What does CyberArk Labs' 'White FAANG' research indicate?

The research shows that individual browsing history can be exploited by attackers, increasing risks for organizations.