The threat of cybersecurity attacks is not always external. In fact, one of the biggest risks to an organization’s security often comes from within – its own employees. A recent incident involving a Tesla employee serves as a stark reminder of just how close these threats can be.
It all began when the Tesla employee received an invitation from a former associate to catch up over drinks. What seemed like a harmless reunion quickly took a sinister turn when the old acquaintance made a shocking proposition: he offered the Tesla employee $1 million to smuggle malware into the automaker’s computer network. The plan was for this malware to enable a cybercrime ring to steal vital data from Tesla and hold it ransom.
Thankfully, the employee did the right thing and immediately reported the offer to his employer. Working in collaboration with the FBI, they were able to bring the former associate to justice and thwart the attempted attack. However, this incident highlights the fact that employees can pose a significant cyber-risk to organizations, often flying under the radar.
According to the Verizon 2023 Data Breach Investigations Report (DBIR), 19% of the data breaches examined in the study were caused by internal actors. The Ponemon Institute’s survey of IT professionals also revealed a 44% increase in insider-related security incidents in just two years. These incidents cost organizations an average of $15.4 million annually in remediation efforts.
The expanding attack surface in the digital age has contributed to the rise of insider threats. With the shift to cloud-powered flexible working arrangements and a growing reliance on third-party suppliers, organizations are facing greater complexities in their cybersecurity landscape. Attackers are taking advantage of this complexity and leveraging techniques such as software supply-chain attacks and business email compromise fraud.
Insider threats typically fall into two categories: intentional and unintentional. While intentional threats involve malicious actions by employees, unintentional threats are often caused by carelessness or negligence. Studies show that most insider-related incidents are a result of unintentional actions rather than malice.
These threats can manifest in various ways, including the theft or misuse of confidential data, destruction of internal systems, or providing access to malicious actors. Motivations can range from financial gain to revenge, ideology, negligence, or malice. Insider threats are difficult to detect and prevent due to employees’ legitimate and elevated access to an organization’s systems and data. Additionally, insiders may be familiar with security measures and procedures, allowing them to easily circumvent them.
To mitigate the risk of insider threats, organizations can implement several preventive measures. Access controls, such as role-based access control (RBAC), can limit access to sensitive data and systems to only those employees who require it for their job duties. Regularly reviewing access privileges ensures that access levels remain appropriate.
Employee activity monitoring tools can help identify suspicious behavior that may indicate an insider threat. These tools can detect unusual data transfers or abnormal patterns of access to sensitive systems and data. However, it’s crucial to address privacy concerns and comply with local regulations regarding monitoring.
Conducting background checks on all employees, contractors, and vendors before granting them access to sensitive data can help identify potential risks. These checks can verify employment history and criminal records.
Providing regular security awareness training to employees is critical in increasing their understanding of cybersecurity risks and how to mitigate them. This reduces the likelihood of unintentional insider threats, such as falling victim to phishing attacks.
Implementing a data loss prevention (DLP) system can prevent data loss or theft by monitoring and blocking unauthorized transfers or sharing of sensitive data. However, it’s important to note that DLP providers themselves can be targeted by attackers.
While no single measure can completely eliminate insider threats, a combination of these preventive measures, along with regularly reviewing and updating security policies, can significantly reduce an organization’s exposure.
Of all the measures discussed, security awareness training stands out as a top choice. These trainings not only save businesses money by reducing the risk of unintentional insider threats but also improve overall security standings. Employees trained to recognize and report security incidents can help detect and mitigate threats early on, minimizing their impact and associated costs.
However, implementing a tailored combination of measures that address a company’s specific needs is the best approach to combat insider threats effectively and save costs in the long term. By prioritizing cybersecurity and recognizing the potential risks posed by employees, organizations can better protect themselves from these often overlooked threats.