Another Look at Insider Threats

In the past week, a European headline proclaimed that a security researcher was arrested after data on every adult in Bulgaria was hacked from a government site.

Back in March, this Dark Reading article gave three examples of “common insider threats” which include:  

  • A former Goodwill employee stole $93,000 from the charity by faking payroll records.
  • A rogue Tesla employee broke into the company’s manufacturing operating system and sent highly sensitive data outside of the firm.
  • Uber’s 60-person crisis team is dealing with 1,200 severe incidents reported to the company weekly, including verbal threats, physical and sexual assault, rape, theft, and serious traffic accidents.

That same Dark Reading article goes on quote an Endera survey of over 200 executives (with more than 1,000 employees in their organization) which found:

  • 63% of respondents stated they experienced financial loss and loss of sensitive data.
  • 60% shared that customers’ trust in the organization decreased and that the organization’s reputation suffered.
  • 59% reported declining workforces’ confidence in the organization’s ability to keep them safe and that employees left the organization as a result of these incidences.

In 2018, private healthcare company Bupa was the victim of an employee breach and it has since been issued with significant fines by UK regulators for ‘systematic data protection failures’ after an employee attempted to sell 500 million client records on the dark web.

Insider threats are not new, but are cyber risks to businesses growing due to staff (with access) misusing information? Many say yes.

As changes to technology and digital transformation are required to survive heading into the 2020s, what are important trends to watch regarding internal cyber risks?

Most important, what can the public and private sector do now to address evolving insider threats?

New Ponemon Research Study Offers Answers

A report (Read more...)

*** This is a Security Bloggers Network syndicated blog from Lohrmann on Cybersecurity authored by Lohrmann on Cybersecurity. Read the original post at: https://www.govtech.com/blogs/lohrmann-on-cybersecurity/another-look-at-insider-threats.html