According to a new report by Cybersecurity Insiders, one in ten data breaches originates from a malicious insider, which cost impacted companies $4.18 million per incident. The 2023 Insider Threat Report also highlighted that almost three-quarters of organizations are at least moderately vulnerable to insider threats. In light of this, it is essential for corporations to understand the five primary forms of insider attacks and develop strategies on how to prevent them.
Privileged insiders present significant risk as their perception of the company’s custody often results in a sense of entitlement to information protection. Compromising a root user’s credential provides more access with less oversight and for longer periods, making them a prime target. Organizations respond to privileged insiders by implementing access policies and investing in Privileged Access Management (PAM) solutions to control user access.
Malicious employees are more challenging to prevent as they are often skilled enough to combine technical know-how with insider company knowledge. They also work stealthily and carefully to avoid drawing any attention. Organizations’ response to this insider threat is to develop more sophisticated security strategies, including increased training and development of a corporate culture that emphasizes the importance of security.
The risk of third-party vendors is becoming increasingly prevalent as companies expand and work with multiple suppliers to complete specific tasks. These vendors could use their access to facilitate a breach, and just like with insiders, opportunity and motive are often the driving force behind the action. To prevent this type of threat, businesses must vet their suppliers and partners’ security measures through proper due diligence, which should include integration of Secure Bill of Materials (SBOMs) and code-signing certificates as a requirement best practice.
Moles or insiders who provide sensitive internal information to an outside party are often financially motivated. They can also have a long history of working with the organization. However, changes in financial circumstances could be a catalyst for this insider to supply confidential data or access to bad actors. This type of insider threat can have severe consequences, such as compromising corporate reputation and business operations. Securing against moles requires implementing robust identity and access management and continuously monitoring insider behavior to detect suspicious activity.
Unwitting employees still pose significant insider threat risks despite having no malicious intent. They typically want to complete their tasks and adopt initiatives they believe are suitable and efficient. However, without clear and concise guidelines, they often adopt unsafe practices or resort to shortcuts. Companies need to develop a culture of cybersecurity awareness by training their personnel on risk awareness to prevent phishing and other forms of social engineering attacks.
In addition to these strategies, cutting-edge technologies like data loss prevention tools and Artificial Intelligence (AI)-driven solutions are critical in detecting and mitigating insider threats. Best-in-class cybersecurity tools provide contextual information, which ensures that anomalous patterns of behavior are easily detectable.
Businesses must protect themselves from insider threats in today’s environment of escalating cyber risks. As tactics and technologies evolve, there is a need to place a higher priority on insider threat prevention and establish ongoing cybersecurity awareness and threat management programs to maintain low phishing click rates and reduce instances of careless online behavior. Companies should look into combining traditional cybersecurity solutions, awareness training, and context-driven AI-driven technologies to develop a potent cyber defense.