Who are insiders? Everyone who has access to an organization’s internal systems ( e sensitive data and proprietary information including IP, trade secrets, customer and employee data) is an insider, including employees, vendors, contractors, and suppliers. The harm caused by any of these groups is referred to as an insider threat.
Unfortunately, no organization is immune to insider threats.
According to an Ernst & Young and IBM report, there’s a 74% perceived risk of a cyber-breach and insider misuse in the financial services industry; followed by 64% in consumer, retail and wholesale; 55% in tech and entertainment, and 56% in power and utilities. Experts have discovered that one of the main reasons why insider threat is so prevalent is because it’s difficult to detect.
Insider threats are inherently different from other cybersecurity risks; thus, addressing this challenge using traditional measures or strategies is often ineffective. Insiders have a significant advantage over external attackers – they have access to privileged systems, they are aware of their organization’s policies, procedures, and technology and its security vulnerabilities.