Month: January 2021

9 Best Practices of Identity and Access Management That Every Corporate Should Follow

Enforcing good identity and access management practices helps you to consider who can access sensitive information and under what conditions they can access it. You will need a comprehensive overview of your company’s IT infrastructure so that you can control all of your components for potential and present threats.

What Is Identity and Access Management

IAM enhances the overall user experience by ensuring compliance with corporate policies and government regulations using security mechanisms such as multi-factor authentication (MFA), consent and preference management services, single sign-on (SSO) etc.

9 Best Practices of Identity and Access Management That Every Corporate Should Follow

  1. Implement security with zero-trust 
  2. Use multi-factor authentication
  3. Stop accounts with rights 
  4. Enforce a strong passwords policy 
  5. Onboarding Self-serve Procedures 
  6. Adherence to comply with regulations 
  7. Go passwordless, 
  8. Perform regular audits 
  9. As an ideal IAM provider, pick LoginRadius

LoginRadius is flexible and easy to deploy as an ideal CIAM solution. In order to better define and streamline customer workflow, it provides advanced MFA solutions, third-party vendor management using federated SSO protocols, zero-trust security architecture, and robust access management.

Staying updated on the latest developments in the industry will help you enhance the current IAM climate.

Discover complete insights of CIAM solutions, integration, the emerging global threats of cybersecurity faced by companies, and more.

9 Identity and Access Management Best Practices for 2021

What is Digital Transformation

Digital transformation is the process of using digital technologies to create new business processes and customer interactions in order to fulfill or change current trends in the changing market. Every era brings its own buzzword when it comes to companies. It was social media toward the beginning of this century. And now, the digital transformation is here.

It is also an aggregation of cultural change that expects enterprises to experiment regularly and not be demotivated when new practices are implemented and not publicly embraced. 

You may begin by outlining the issue statement, possibilities, and objectives of your organization. That revolves around, in most cases: 

  • Making use of emerging technology 
  • Lowering friction 
  • Increasing profitability 
  • Enhancing the experience of customers 
  • Elevation of the profitability scope

Why is Digital Transformation Crucial for Enterprises

For many reasons, organizations may idealize digital transformation. Yet survival has got to be the most sensible explanation. The business world is evolving. Organizations are able to explore, welcome, and adapt to emerging technology.

What the Digital Transformation Structure will look like in 2021 

Speaking of the positive, 63 percent of respondents to the McKinsey survey were positive that nations will pick up steam after the 2020 setback and do better six months from now. 

The global outlook, meanwhile, has bounced back as well.

  • The buzzword would be digital nationalism. 
  • There will be futuristic workspaces that rule. 
  • Tech debt is being channelized. 
  • A paradigm change will be observed by digital labor. 

In the response of businesses to the current crisis, digital transformation will be a strong lever.

  • Understand the channel: In particular, understand which intermediary sites affect buying and how customers move between channels.
  • Set expectations: This includes monthly goals for both direct sales and indirect sales.
  • Identify and prioritize target prospects: It is necessary to target the correct demographics or personas. And for your business, digital media makes micro-targeting possible.
  • Leverage the use of channels: Describe the benefits of using different digital platforms.
  • Highlight the differences, generate proposals: the differences between online sites and other networks are involved.


Trends to Look Out for Digital Transformation in 2021 

New trends have been introduced by the uncertain course of the global pandemic. Businesses and IT executives should be wary of what is in the making. The forthcoming new normal in 2021 will take over the following main developments in digital transformation.

  • Financial competence would be improved by automation.
  • Customer Data Platforms explosion (CDP). 
  • AI Utilization. 
  • Quantum computing is going to go mainstream. 
  • The pandemic would outlast Work From Home. 
  • It will gain traction with cybersecurity.


How do you calculate ROI on digital transformation?

How are you starting? Just easy. By making a good argument for saving. You can create a realistic ROI model for your company using the following steps below.

  1. Narrow down the digital transformation targets 
  2. Defining cost centers 
  3. Allocate all customer indicators with a figure 
  4. Set practical goals and timelines

What Drives Digital Transformation

To deliver better experiences and win big, businesses need to consider who these new kinds of digital consumers are. You have to reconsider new ways of engaging with your customers.

Right now, organizations are increasingly integrating the innovative use of data for their transformation activities, whether through analytics, IoT, or machine learning, etc.

A mix of plan, roadmap, priorities, stakeholders, and all the criteria required to succeed is digital transformation. So, with the COVID-19 pandemic, did the dynamics change? You’re just about to find out.

See more: What is Digital Transformation

What is Formjacking Attack?

Formjacking attacks are organized and executed by cybercriminals to steal payment forms with financial and banking information that can be directly captured from eCommerce websites on the checkout pages.

Formjacking is a type of cyber attack in which hackers inject malicious JavaScript code, most often in the form of a payment page, into the target website. 

When the malicious code is in operation, the malicious code sends the payment card number and other confidential details such as the name, address, and phone number of the user to the hacker when a customer enters their payment card information and hits the submission. 

This stolen information is sent to a server by hackers to reuse or even sell personal data on the dark web. When all this occurs, the victim is blissfully unaware of the compromise of their payment data.

Who Is Behind Formjacking Attacks

Magecart is a club of hacker groups that have been behind numerous website attacks. Attacks on Ticketmaster, Feedify, British Airways, and Newegg are only a few of this consortium’s examples of Formjacking. 

To steal payment card details or credit card information and other confidential information directly from online payment forms, the group injects web-based card skimmers into eCommerce sites.

How to Prevent Formjacking Attacks

  • Make sure the formjacking is well-versed by the IT professionals. 
  • Use the new antivirus software; some, if not all, formjacking attacks will protect your device from one with a reputable status. 
  • Run scans and tests to search the systems for bugs and patch them until they can be identified by a cybercriminal. 
  • Run a test to check for inconsistencies before releasing it on the web any time the app gets a new update. 
  • Do not forget to monitor the behavioral habits of your systems so that you can identify suspicious patterns and block the apps that can affect your system.

Even with all prevention measures in place, the identification of formjacking attacks can still be extremely difficult. As an online business, however, you must have all the protocols in place to alert customers quickly in the event of such attacks. 

What Categories of Businesses Are These Attacks Targeting

To raise bigger profits, Magecart has been targeting eCommerce giants such as Ticketmaster, Newegg, and British Airways. 

The data from Symantec reveals that the affected websites are mainly online shopping sites for more comprehensive retail business operations, including small niche sites. Websites that were affected ranged from a fitness store to an outdoor accessory supplier.

How do businesses secure your credit card and other form-jacking information?

Before it attacks your device, you may not be able to stop Formjacking, but you can take action to secure your private data. 

Use credit cards instead of debit cards to reduce financial risks when shopping online. The explanation behind this is clear. 

If anyone deceptively uses the credit card details or indulges in card fraud, the credit card companies’ funds will be depleted.

Find out more about how the business can be impacted by this practice and how to avoid it.

Source: https://www.loginradius.com/blog/start-with-identity/2021/01/what-is-formjacking/