When it comes to emerging cyber threats, we’re used to seeing them led by criminal groups across different countries. However, your company’s biggest cyber threat could be in your very own office. Ponemon’s 2023 Cost Of Insider Risks Global Report revealed that 71% of companies experience at least 21, sometimes over 40, insider threats annually—a 67% increase from 2022.
If that jump isn’t scary enough, just look at the price tag. Ponemon’s report states that companies spend an average of $179,209 to contain an insider threat. However, for incidents taking longer than 90 days to maintain, the average cost is $18.33 million.
Whether accidental or the actions of a malicious employee, preventing insider threats is one of the most crucial plans for cybersecurity teams to have in place.
Behavioral Indicators of Potential Insider Threats
Insider threats don’t have to take your company by surprise. Generally, if a member of the organization has malicious intent, it will likely reflect in their behavior. When on the lookout for any potential threats, make note of any changes in behavior. Is the employee acting more secretive about their work? Are they logging into work at odd hours?
If the employee requests access to sensitive information without a clear or validated need, this is also a red flag for underlying motivations. Similarly, some may get caught violating security protocols altogether, such as using unauthorized devices for work, disabling security features, or sharing passwords.
Altogether, these present a strong cause for concern, but cybersecurity teams must also note that these behaviors could be accidental. Some employees may be naturally withdrawn or occasionally work overtime, while others are unaware of cybersecurity risks and make mistakes. While these employees may have harmless intentions, their actions must be addressed promptly. According to Ponemon’s 2023 report, it was actually employee negligence that was leading to 55% of insider threats. With so many employees unintentionally creating risk, cybersecurity teams must take immediate action to address these incidents
Steps for Incident Response
Once an insider threat has been confirmed, cybersecurity teams must take immediate action. Roadmaps must be planned ahead of time to ensure the proper steps are taken swiftly to minimize any damage.
As you design your action plan for insider threats, consider these five actionable steps:
- Monitor and Detect: Cybersecurity teams should leverage advanced technologies to monitor unusual activities. These tools identify anomalies in user behavior, such as unauthorized access attempts, data exfiltration, or atypical login patterns.
- Immediate Response: Establish automated alerts to inform the cybersecurity team about potential insider threats. This allows for a swift response to any suspicious activities.
- Isolate, Restrict, and Secure: Once an insider threat is identified, quickly isolate any systems or accounts to prevent further damage. Actions may include disabling the user’s access, revoking credentials, and temporarily restricting access to critical systems for all users until the threat is fully contained.
- Thorough Investigation: Conduct a comprehensive investigation by collecting evidence related to the insider threat, such as log files, access records, and communications. Engage with relevant personnel to gain a clear understanding of the threat’s scope and intent.
- Incident Documentation: Maintain detailed records of the incident, including the timeline, actions taken, and lessons learned. Teams can also conduct a post-mortem review to analyze what went wrong, what was done right, and how the response can be improved. Use these insights to refine your insider threat response plan.
Training and Awareness
Taking on insider threats requires effort from everyone in the organization. If employees are struggling to follow security protocols or unknowingly create risks, then it is time to start educating the team.
Develop a mandatory training program for all employees to attend with clearly outlined steps on adhering to the protocol in various scenarios. Specify common mistakes that have led to breaches with actionable steps they can take within these situations. To ensure the training is effective, design an interactive portion with real-world examples. After the training, tests or simulations can gauge their knowledge and identify areas needing further reinforcement.
Don’t stop at just one session. As the company grows and new team members join, everyone will benefit from regular training sessions and simulations to reinforce the importance of staying vigilant and preventing internal data breaches.
Safeguard Your Future
Insider threats pose a significant risk that can no longer be overlooked. By prioritizing these strategies, your team will help safeguard your company from potentially devastating insider threats.
