Identity Matters - December 2024

Happy new year from the Simeio team! Now is the time to review the year and consider its lessons. From longstanding issues to fresh breaches emerging just in the last month, the main takeaway is clear: despite rampant high-profile cyber-incidents, enterprises are not sufficiently invested in identity security. With the new year comes a fresh new opportunity to course-correct, but only by understanding the environment these regrettable breaches occur in can meaningful progress be made.

Because Identity Matters.

Industry Highlights

How Generative AI Can Transform the Future of Identity and Access Management

Although identity management forms the core of modern cybersecurity and digital user-experience, enterprises must constantly predict which next big developments will shape identity management. Some technology experts look to generative artificial intelligence (AI) as the next major frontier of identity and access management (IAM). As hackers find ways to turn AI towards malicious ends, can identity management professionals leverage this new technology to tighten security and bolster usability?

Go to InsideAI News for a deep dive into the potential generative AI has for the world of identity management here

Cybersecurity Lessons From 3 Public Breaches

With over 9,000 cyber incidents reported in first half of 2024, the state of global identity security looks more dubious to investors and customers than ever before. However, while a recent Accenture study found that 96% of CEOs identified security as an essential investment, almost 3/4ths of them doubted their enterprises’ ability to effectively prevent or mitigate the threat. In Dmytro Tereshchenko’s new article, learn about three high profile data breaches and draws out three teachable moments which can help enterprises avoid similar incidents in the future.

Read more at Dark Reading here

Krispy Kreme breach, data theft claimed by Play ransomware gang

In one of the more unusual cyber-incidents of 2025, American doughnut franchise Krispy Kreme disclosed on December 11th that their systems had experienced an unauthorized breach. Since the announcement, Krispy Kreme has undertaken a full remediation campaign (including external cybersecurity consultants). Additionally, the notorious cybercrime group “Play” has claimed responsibility for the attack, though these claims are not substantiated at time of writing.

Get Sergiu Gatlan’s breakdown on the situation at BleepingComputer here

The biggest data breaches of 2024 in financial services

2024 was a high watermark year for cyberattacks against the American financial sector. Even conservative estimates place the number of compromised records exceeded the total population of the United States. With one of the largest data breaches in history taking place in 2024 (that being the National Public Data breach), this was a rough year for American citizens and businesses who take their cybersecurity seriously.

Head over to American Banker and learn about this and other major incidents from Carter Pape here

10 largest healthcare data breaches of 2024

Unfortunately, the healthcare industry was another top target for hackers and bad actors in 2025. ?Cyber-incidents targeting healthcare providers compromised sensitive patient records and even disrupted potentially life-saving care. In her list of the top 10 data breaches which afflicted healthcare in 2024, Jill McKeon dives into the insurance, pharmaceutical, and even ambulance enterprises which suffered the worst of this cybercrime wave.

Read her full list at TechTarget here

Cleo releases CVE for actively exploited flaw in file-transfer software

Active and automated identity security remediation is more important now than ever, and the recently exposed Cleo file-transfer vulnerability is just the latest example. As the latest victims of the infamous Clop ransomware group, the Illinois-based software company disclosed a weakness in multiple software offerings which allowed for unauthorized intrusion. This discovery comes on the heels of a similar incident in October. This, combined with a perceived delay in Cleo’s response to the latest incident, has led to criticism from a number of cybersecurity experts.

Get more information on the Cleo breach at Cybersecurity Dive here

Simeio Spotlights

Identity Orchestration: Navigating the Maze to a Stronger Identity Security Posture

Siloed identity solutions cause deep-rooted issues within enterprises that can be nearly impossible to resolve without the right solution; identity orchestration is that solution. Join Simeio’s CPO Asif Savvas and Senior Analyst at Enterprise Strategy Group Todd Thiemann in their new Fireside Chat session and learn how identity orchestration improves operations, controls gaps, and leverages existing identity tooling while reducing costs.

Watch the full webinar here

How IAM Facilitates DORA Compliance

Financial enterprises in the EU have received a mandate to prioritize cybersecurity. With the ratification of the Digital Operational Resilience Act (DORA), financial organizations must adhere to DORA’s risk-management framework by the 17th of January 2025. Navigating compliance for these new regulations can be tricky. Learn how IAM solutions can assist or outright fulfill major areas of DORA compliance.

Get the full article here

Machine Identity Management Part 1: The Role of Machine IDs in Manufacturing

The rise of machine identities is rapidly becoming a concern for enterprises of all sizes and sectors. Machine identities enable unprecedented levels of interconnectivity and open new vectors for bad actors to exploit. In his new two-part series, Rahul Purohit explores the proliferation of machine identities in a manufacturing setting, breaking down how this new breed of identities arose, the challenges they pose, and the opportunities they provide.

Read his article at Simeio here.