Revealed: The real cost of insider attacks – and your strategy to prevent them
The chance of your business’s data being breached by an inside attack is high. Most inside attacks are accidental. A well-meaning employee clicks on a bad link by mistake.
But there are some attacks caused by malicious attackers, deliberately looking to do damage, or make money.
Just think about what an attack like this would mean for your business.
As loyal as your team are, and as much as you think they know about cybersecurity, as business owners, we simply can’t afford to think like this. Because the threat of an insider attack is very real and incidents are rising year on year.
IBM recently carried out a study of 204 organizations in the United States. Over 12 months, this small group of organizations saw 4,716 insider attacks.
- 63% of these attacks were due to insider negligence
- 23% were down to malicious insiders
- 14% related to credential theft
Businesses with fewer than 500 employees spent on average $7.68 million dealings with the consequences of insider attacks.
So what can we, as business owners, do to prevent and minimize this kind of attack?
Our recommendation would be to create an insider threat strategy. Follow it to the letter and you could instantly minimize the risk to your business.
There are five key areas that must be in your strategy. Just remember every business is unique. To create a bespoke strategy, consult with a trusted IT support partner (hey, we can help with this) (detail information on each Key area in the guide).
- Key area 1: Ongoing education – Training your team is at the core of avoiding negligent insider attacks.
- Key area 2: Tailored, multi-layered security
- Key area 3: Restrict access
- Key area 4: Business exit protocol
- Key area 5: Good communication
These are the five key areas for your insider threat strategy. There may be others depending on the kind of business you run; the data you handle and the clients you serve.
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