The veiled cause for many breaches making headlines, according to cybersecurity insiders, is misuse and abuse of privileged accounts – counting access, session and elevation management – at many organizations including financial services.

Phoenix based security firm BeyondTrust announced in its annual report, which surveyed nearly 500 IT professionals from around the world, identified the "Five Deadly Sins of Privileged Access Management," and how they prevent organizations from effectively protecting sensitive information.

Because so many attacks start with the misuse of privileged accounts, BeyondTrust said it is not surprising that respondents rated privileged access management (83%), privileged session management (74%), and privilege elevation management (74%) somewhat to extremely important to their efforts.