Software-as-a-Service breaches surge 300 percent

A new report from Obsidian Security reveals an unprecedented 300 percent year-on-year increase in SaaS breaches between September 2023 and 2024. This surge comes as organizations increasingly rely on SaaS applications with current spend on SaaS in the hundreds of billions, or approximately $8,700 per employee for tools such as Workday, Google Workspace, ServiceNow, and Office 365. Obsidian's data shows 99 percent of SaaS compromises originate at the identity provider (IdP). Although IdPs help manage access, if they are compromised, attackers can gain lateral movement across entire systems, putting sensitive data at risk. While multi-factor authentication (MFA) is commonly viewed… [Continue Reading]