Insider threats are among the most dangerous cyberthreats out there. Yet, organizations of all sizes seem to be either reluctant or negligent when it comes to fighting them. Over 50 percent of organizations don’t have an Insider Risk Response Plan and 40 percent don’t assess how effectively their technologies mitigate insider threats.1 Even though 59 percent of IT security leaders expect insider risks to increase in the next two years, very little is being done to prevent them from causing serious security incidents.

With the threat growing bigger by the minute, disaster could strike at any time. If you still aren’t worried, just remember that the average time to identify and contain a data breach is 280 days. This should give you an idea of the possible damage a single data breach could cause to your business.

This brief article will attempt to throw some light on the types of insider threats you must detect and mitigate, the damage they could cause, the user attributes that increase these risks, and the security controls you should implement to prevent and reduce these threats.

Understanding Insider Threats

Simply put, an employee or contractor who wittingly or unwittingly uses his/her authorized access to cause harm to your business is considered an insider threat. The Ponemon Institute’s Global Cost of Insider Threats Report 2020 lists three types of insider threats:

The Serious Damage Insider Threats Can Cause

Even a single security breach caused by an insider threat can result in serious damage to your business in the following ways:

User Attributes That Aggravate Insider Threats

The likelihood of a security breach caused by an insider could be significantly increased due to:

Building a Resilient Defense Against Insider Threats

As a business, you can undertake a list of security measures to build a resilient defense against insider threats as part of a proactive defense strategy rather than a reactive one. Some of the immediate measures you can take include:

Detecting insider threats and building a robust defense strategy against them can be a tough task for most businesses, irrespective of size. Unfortunately, the longer you wait, the greater the chance of a security lapse costing your business its entire future.

However, you certainly shouldn’t hesitate to ask for help. The right MSP partner can help you assess your current security posture, determine potential insider threats to your business, fortify your cybersecurity infrastructure and secure your business-critical data.

It may seem like a tedious process, but that’s why we’re here to take all the hassle way and ensure your peace of mind remains intact throughout this fight. All you have to do is shoot us an email and we’ll take it from there.

Article curated and used by permission.

Data Sources:

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