More than half of organizations (58 percent) still lack the appropriate controls to prevent insider attacks, with just under half (44 percent) unaware if their organization has experienced an insider attack at all, according to a new
The Insider Threat Spotlight Report, a survey of more than 500 cybersecurity professionals sponsored by user behavior analytics and activity monitoring company Veriato, found that nearly half of those surveyed saw an increase in insider attacks over the last 12 months. The biggest threat comes from managers with access to sensitive information, with 67 percent believing that insiders with credentialed access, make insider attacks more difficult to prevent.
According to the survey, the endpoint is the most common launching point for an insider attack. Tracking file movement across the network is a critical component of a data security strategy, according to 75 percent of respondents, with 57 percent naming databases as the most vulnerable asset to an outside attack.
KEY SURVEY FINDINGS
- Seventy-four percent of organizations feel vulnerable to insider threats — a dramatic seven percentage point increase over last year’s survey. However, less than half of all organizations (42 percent) have the appropriate controls in place to prevent an insider attack.
- Inadvertent data breaches (71 percent) top the list of insider threats companies care most about. Negligent data (68 percent) and malicious data (61 percent) breaches come in a close second and third.
- Privileged users, such as managers with access to sensitive information, pose the biggest insider threat to organizations (60 percent). This is followed by contractors and consultants (57 percent), and regular employees (51 percent).
- Fifty-six percent of security professionals say insider threats have become more frequent in the last 12 months. Forty-two percent of organization expect a budget increase over the next year — a strong gain of eight percentage points from the previous year.
- Over 75 percent of organizations estimate insider breach remediation costs could reach $500,000. Twenty-five percent believe the cost exceeds $500,000 and can reach in the millions.
Survey respondents also named three barriers to better insider threat management:
- Lack of training and expertise (60 percent)
- Insufficient budgets (50 percent)
- Lack of collaboration between departments (48 percent). Notably, lack of collaboration is the barrier with the highest gain since the previous survey, moving up 10 percentage points.
User behavior monitoring and analytics solutions, can play a huge role in detecting and preventing insider attacks that could potentially cost hundreds of thousands. Veriato is an innovator in actionable User Behavior Analytics and a global leader in User Activity Monitoring. More than 36,000 companies, schools, and government entities worldwide utilize Veriato to gain insight into the user activity on their network and enjoy the security and productivity increases that come with it.
Veriato’s employee monitoring solutions are an essential weapon in the fight against insider threats that lead to data breaches, fraud, and harassment. Since the insider threat stems from authorized access being used improperly, it is necessary to implement a solution that monitors the activity of the insiders themselves and can alert when indicators of potential threat activity appear.
Offering companies a variety of user activity monitoring options, Veriato solutions are designed for use in focused temporary investigations, for proactive detection of insider threat activity enterprise-wide, and for detailed activity monitoring in cases where it is required.
View the full Insider Threat Spotlight Report