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Why You Need to be Concerned About Insider Threats

The-Essential-Guide-to-Ensuring-IT-SecuritySecuring your business against attacks from cyber criminals is very important.  Especially now as hackers are ramping up their attacks on businesses amid COVID-19-related disruption.  One area that may have been overlooked is the potential security threat created by your own employees.

The most recent study by the Ponemon Institute says that “the number of insider threats has increased 47%, from 3,200 in 2018 to 4,716 in 2020. At the same time, the cost of these incidents has surged 31%, from $8.76 million in 2018 to $11.45 million in 2020.”  Some of these insider threats are not intentionally malicious; in many cases it’s employees who don’t know they’ve clicked on a bad link or they’ve shared or accessed data insecurely while working from home.

Then there are the threats from malicious insiders.  Securonix has released it’s 2020 Insider Threat Report, which suggests “flight risk” employees are involved in 60% of insider cybersecurity incidents and data leaks.  In their report, Securonix also claimed that 80% of flight risk employees will try to take propriety data with them.  How the flight risk employees will try to take the data breaks down as follows: email in 44% of cases, downloading to cloud storage websites (16%), unauthorized data downloads (10.7%), unauthorized removable devices (8.9%), and data snooping through SharePoint (8%).

So, how can you protect your organization from this type of threat? Securonix suggests that algorithms can be useful in monitoring employees for unusual activity, as well as measuring data volume and transfers that also appear to be abnormal.   With regards to cloud systems, Securonix added. "The adoption of cloud systems presents a complex threat fabric which requires advanced security analytics that utilizes purpose-built algorithms to detect specific outcomes."

To protect yourself from insider threats, you need to invest in cyber awareness training, and you need to monitor your network.  If you are unsure of how to implement either cyber security awareness, or network monitoring, contact Uzado today.  We’re here to help.

Does COVID-19 have you facing new security challenges?  Unsure how to cope? Contact us for a free security consultation

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