Adapting Strong IAM Strategies to Combat AI-Driven Cyber Threats

Written by Jordi Vilanova, Cloudtango.

In early 2024, T-Mobile experienced a significant data breach where attackers exploited weak IAM controls to gain access to the personal information of over 30 million customers. The attackers used a combination of phishing attacks and stolen credentials to bypass security measures. This incident led to sensitive data, including names, addresses, Social Security numbers, and driver's license information to be exposed. It resulted in severe financial and reputational damage for T-Mobile.

Not long after the T-Mobile data breach, Coinbase, one of the world's leading cryptocurrency exchanges, suffered a significant breach when attackers exploited weak IAM controls. They used phishing attacks combined with brute-force attacks on administrative accounts with poorly secured passwords.

Attacks like these continue to put IAM-related vulnerabilities at the top of annual rankings, in fact IAM threats are second only to Misconfiguration & Inadequate Change Control which is this year’s number one security issue in cloud environments in CSA’s Top Threats to Cloud Computing 2024 report.

An effective identity and access management strategy is crucial for companies to safeguard against unauthorized access, data breaches, and cyber threats. To enforce a strong IAM strategy, businesses need to collaborate with IAM solution providers. At Cloudtango, we’ve recently compiled a list of the main IAM vendors and their local partners to help businesses not only find the best IAM solutions but also identify the ideal partners for implementation.

When Tech Innovators, a leading technology company, was targeted by cybercriminals the used AI to steal employee credentials. The attackers deployed AI to analyze the company’s digital footprint and generate phishing messages that appeared to come from trusted colleagues and departments within the organization.

Organizations should prioritize strong authentication and authorization mechanisms with guidance from cybersecurity experts. It’s essential to have a plan for regular monitoring and auditing of access activities, and to invest in employee education and security awareness programs. Recent surveys indicate that stolen credentials will remain a significant cybersecurity threat through 2025. This persistent threat is driven by ongoing vulnerabilities in security frameworks and the evolving tactics of cybercriminals, who are increasingly using AI-powered attacks.