External attacks aren’t the only cyber threats businesses need to consider. Malicious, negligent and compromised users are a serious and growing risk.
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A recent report from the Ponemon Institute illustrates that insider attacks are getting worse, taking longer to detect and becoming more extensive.
An insider threat is a security risk that originates from within the targeted organization and the report found that, over the past two years:
Insider attacks have increased by 44%
It takes organisations 85 days to contain an insider threat, compared to 77 days in 2020.
The average cost of addressing insider threats has risen by 34%
One reason that insider threats can be hard to detect is that there is not just one kind. Employees, vendors, and hackers can all perpetrate insider security breaches. To further complicate detection, some may be malicious and others accidental.
Types of Insider Threats
Malicious/Disgruntled Employee
A sales employee that is leaving the company may decide to take all their contacts with them. This is a malicious theft of company data.
Another example of this type of insider attack is a disgruntled employee. They may be upset with their manager who just fired them and decide to do the business harm. They could plant ransomware or make a deal with a hacker to give over their login credentials for cash.
Careless/Negligent Employee
Some insider threats are due to lazy or untrained employees. They don’t mean to cause a data breach. But may accidentally share classified data on a non secure platform. Or they may use a friend’s computer to access their business apps. Being completely unaware of the security consequences.
3rd Party with Access to Your Systems
Outsiders with access to your network are also a very real concern. Contractors, freelancers, and vendors can all constitute an insider breach risk.
You need to ensure that these third parties are fully reviewed. Do this before you give them system access. You should also allow your IT partner to review them for any data security concerns.
Hacker That Compromises a Password
Compromised login credentials are one of the most dangerous types of insider threats. This has now become the #1 driver of data breaches around the world.
When a cybercriminal can access an employee’s login, that criminal becomes an “insider.” Your computer system reads them as the legitimate user.
Ways to Mitigate Insider Threats
Insider threats can be difficult to detect after the fact. But if you put mitigation measures in place you can stop them in their tracks. Being proactive keeps you from suffering a costly incident. One that you may not know about for months.
Here are some of the best tactics for reducing insider threat risk.
Thorough Background Checks
When hiring new employees make sure you do a thorough background check. Malicious insiders will typically have red flags in their work history. You want to do the same with any vendors or contractors that will have access to your systems.
Endpoint Device Solutions
Mobile devices now make up about 60% of the endpoints in a company. But many businesses aren’t using a solution to manage device access to resources.
Put an endpoint management solution in place to monitor device access. You can also use this to safelist devices and block unauthorized devices by default.
Multi-factor Authentication & Password Security
One of the best ways to fight credential theft is through multi-factor authentication. Hackers have a hard time getting past the 2nd factor. They rarely have access to a person’s mobile device or FIDO security key.
Couple this with password security. This includes things like:
Requiring strong passwords in your cloud apps
Using a business password manager
Requiring unique passwords for all logins
Employee Data Security Training
Training can help you mitigate the risk of a breach through carelessness. Train employees on proper data handling and security policies governing sensitive information.
Network Monitoring
Once someone has user access to your system, how can you catch them doing something wrong? You do this through intelligent network monitoring.
Use AI-enabled threat monitoring. This allows you to detect strange behaviors as soon as they happen. For example, someone downloading a large number of files. Or someone logging in from outside the country.
Need Help Putting a Stop to Insider Attacks?
A layered security solution can help you mitigate all four types of insider threats. We can help you with a robust yet affordable solution.
Contact Digit IT today on 07 4637 9033 for a free consultation.
Source: The Technology Press