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It’s a cautionary tail, if you’re a security firm, it’s often the case that you should try your best not to be seen or heard. If you’re a security software vendor its a good idea to secure yourself and your clients.
In the case of Okta, it seems to be having a bit of trouble doing both. With reports that the MGM breach was related to privilege access to Okta sync servers, through a social engineering hack (that raises questions about security architecture), and now it appears that there’s been a breach in its own security. With systems accessed using a stolen credential, allowing access to ‘certain Okta customers files’.
With the current run of misfortune, with Lapsus$ in 2022, source code stolen in December 2022 and security issues in 2023 and the SEC final rule from December 2023. There’s precedence that raises questions of the companies ability to manage its and its clients cyber risks. Questions that maybe raised if a client gets hacked that is related to the product, or a breach of its own security that it has to report to the markets. 2024 will be an interesting year.
If your core proposition is Access Management and you don’t manage access, how should markets react?
Ted Dziekanowski Brian D. McCarthy Bob Dix Rachel V. Rose, JD, MBA
#paravasecuritysolutions #cybersecurity #cyberriskmanagement
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