Insider attacks are one of the most challenging to detect. Anyone with access to your company's network and data is considered an "insider", whether through a login or other authorized connection.
Insiders have the potential to bypass security measures, granting access to the system despite supposed protections against intruders. Unfortunately, these safeguards won't activate since a log-in user isn't considered an intruder.
Ponemon Institute recently released three sobering statistics that underscore the urgency of addressing this threat. Insider threats are becoming more difficult to detect and more prevalent.
According to the report, over the past two years:
- Organizations take 85 days to stop an insider threat, up from the 77 days it took in 2020.
- On average, organizations must spend 34% more money to address insider threats in 2019 compared to 2020.
Companies must be able to recognize an insider threat. This is the initial step in mitigating it.
Four Types of Insider Threats
Insider threats are difficult to detect due to the variety of types. Vendors, employees and hackers may all commit security breaches on a company's network; some may be malicious while others could simply be accidental - further complicating detection efforts.
These are the four top types of insider threats that company networks must contend with.
Malicious/Disgruntled Employee
An employee leaving as a sales representative may choose to take all of their contacts with him, which is known as malicious theft.
A disgruntled employee could be another example of an insider attack. An angry employee could be motivated by their manager to cause harm to the business, such as installing ransomware on their computer or dealing with hackers to obtain login credentials.
Negligent Employee
Insider threats often originate from untrained or lazy employees who don't intend to breach data. They may share sensitive data on an insecure platform, or use a friend's computer for accessing their business applications without realizing the potential security repercussions.
Access to Your Systems by a Third Party
Access to your network from outsiders is a serious security threat. Insider breaches can occur due to vendors, contractors and freelancers alike.
By doing this, you can guarantee that the third party has been thoroughly reviewed and cleared of data security concerns. Your IT partner should then be able to inspect their systems for compliance issues as well.
Hacker who Breaches Password
Insider threats that involve compromised login credentials are the most dangerous. This has become the leading cause of data breaches around the world.
Cybercriminals may gain access to employee logins, making them "insiders." Your computer system will recognize them as legitimate users and block their activity accordingly.
There are ways to reduce insider threats.
Insider threats can be difficult to identify after they have already occurred, but you can prevent them from happening with effective mitigation measures in place. Preventative measures help you save costs in the long run even if you are unaware of them for several months.
These are the top strategies for reducing insider threat risk.
Conduct comprehensive background checks
Perform a comprehensive background search before hiring new employees. Most malicious insiders will have red flags in their work history. It is equally essential to conduct this check on contractors and vendors who will have access to your system.
Endpoint Device Solutions
Mobile devices now account for 60% of endpoints within companies, yet many businesses lack a way to control access to these devices.
Install an endpoint management system to monitor device access. This can be used to secure devices and prevent unauthorized entry by default.
Multi-Factor Authentication and Password Security: Boost your security posture today
Multi-factor authentication is one of the most reliable solutions to combat credential theft. Hackers typically cannot get past the second factor due to lack of access to FIDO security keys or mobile devices belonging to individuals.
Password security can also be utilized. This includes:
- Strong passwords are required for cloud applications.
- Utilize a password manager for business.
- Requiring unique passwords for all logins
Security Training for Employees
Security training is provided to employees on an ongoing basis.
Training can help reduce the likelihood of a breach due to carelessness. Educating employees on data handling practices and security policies that pertain to sensitive information is an excellent idea.
Network Monitoring
How can you detect anyone with access to your system? Intelligent network monitoring is one way of doing this.
AI-enabled threat surveillance. This will enable you to recognize unusual behavior quickly, such as someone downloading large files or logging in from abroad.
Do You Need Assistance Spotting Insider Threats?
Layered security solutions can shield you against all types of insider threats. We offer an affordable yet robust solution. To get started on this free consultation process today, contact us!
