When companies think of cybercrime, they typically think of unassuming hackers who operate from distant. But the truth is that the biggest threats to your business could be from within – your own employees as well as contractors or partners.
These insider risks include the most difficult to spot and are the most harmful. Since insiders already have access to your data and systems. If they are negligent or have malicious motive, employees may accidentally let in serious security breaches.
Let’s look at the insider threats as well as the reasons they’re so risky and what businesses can do to defend themselves.
What Is an Insider Threat?
Insider threats are an issue of security that originates within the company. It can originate from:
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Employees currently employed (e.g. an employee who is handling sensitive information).
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Ex-employees (who are able to access accounts).
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Vendors and contractors (with legitimate access to the system).
Insider threats typically can be classified into two types:
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Unintentional Risks Human errors or ignorance, or awareness can lead to vulnerability. An example: An employee clicks on a fake email or makes use of an insecure password.
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Malicious threats – Actions taken with deliberate intent by people who seek the financial gain, revenge and competitive edge. An example: an employee who steals customer information before leaving for an opponent.
Why Insider Threats Are So Dangerous
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access and trust
Intruders have access to your systems and could be granted access. They could bypass conventional security safeguards. -
It is difficult to detect
In contrast to outside hackers, insider activity could appear normal. It could take months before the unusual behavior is discovered. -
High-Permanent damage
In-person incidents can result in data leaks and reputational damage, financial fraud as well as fines from regulators. As per Ponemon Institute research, the average cost for an insider threat incident can be in the thousands. -
Growing Complexity
With remote work, cloud systems, and third-party integrations, there are now more ways for insiders–intentionally or not–to compromise security.
Real-World Examples
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Edward Snowden (2013): A contractor for the NSA who leaked classified data and showed how insiders could expose sensitive information at a massive the scale of.
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Twitter (2020): Employees were coerced or tricked to provide access, which allowed hackers to gain access to popular accounts.
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Everyday Business: Smaller companies often have issues with employees emailing documents directly to their personal email accounts being a target for phishing scams, or stealing clients’ list when they quit.
How to Protect Against Insider Threats
The complete elimination of risk associated with insiders isn’t possible, but companies can minimize risk by using layers of defense.
1. Develop a Strong Security Culture
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Give regular training on password hygiene, phishing and handling data.
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Instruct employees to disclose any suspicious behaviour without fear of.
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Follow by example. Executives should adhere to the same set of rules.
2. Use the Principle of Least Privilege (PoLP)
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Provide employees with access to the data and systems that are required for their job.
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Check and update permissions frequently.
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immediately revoke access if employees are promoted or quit the company.
3. Monitor Activity and Set Alerts
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Monitor tools to identify suspicious activities (e.g. huge data files, log-ins from strange places).
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Alerts should be issued for attempts to gain access to restricted areas.
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Security and privacy must be balanced to maintain trust in employees.
4. Implement Strong Authentication Controls
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Require multi-factor authentication (MFA).
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Enforce secure password practices.
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Limit remote access only to authorized devices.
5. Establish Clear Policies
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Document rules on data use as well as device management and acceptable conduct.
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Make sure that all employees sign and are aware of the rules.
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Outline the consequences of policy violations.
6. Have an Incident Response Plan
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Determine the best way to investigate suspicious insider transactions.
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Designate roles to conduct investigations in a discreet manner.
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Assist HR, Legal IT and HR teams are working together in response.
Balancing Security and Trust
It is important to realize that the majority of employees want to be ethical and do what is right. Threats to the inside often stem due to the lack of knowledge or education rather than malicious intent. Monitoring that is too invasive can cause doubt and undermine morale therefore, the important thing is to strike a balance
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Secure your business by taking sensible security measures.
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Develop a culture that is responsible and consciousness.
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Create confidence while limiting risks.
Final Thoughts
Employees are a company’s most valuable asset, however with no proper security measures they can also be the company’s the weakest point. Threats from insiders, both intentional and accidental, pose significant risks to companies of any size.
Through a combination of strong policies, smart technology and continuous education, companies can lower the risk of insider threats and create an army of employees who are empowered to be vigilant and secure.
Be aware that protecting yourself from external hackers is essential However, protecting yourself from internal risks is equally crucial to long-term stability.
