Companies Struggle to Deal With Insider Threats

By Samuel Greengard
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    A Security Fail

    A Security Fail

    61% of survey respondents said they lack the ability to deter an insider threat. Another 59% admitted they don't even have the ability to detect an insider threat.

One of the biggest business and technology challenges facing enterprises that are attempting to batten down the security hatches is the ongoing peril of insider threats. In some cases, these breaches occur inadvertently, when employees engage in risky or negligent behavior without realizing the damage it can cause. But threats also take place due to intentional fraud, hacking or intellectual property (IP) theft. And the nature of insider threats—an authorized person misusing or abusing access to systems and data—makes it extremely difficult to detect such attacks and protect against them. A recent survey of 355 security professionals conducted by mobile software firm Spectorsoft offers insights into the problem, which, according to industry estimates, amounts to approximately $40 billion a year in losses in the United States alone and about $2.9 trillion globally. Among other things, the survey found that while executives across a wide swath of industries acknowledge the problem and the risks, companies are largely unable to deter insider threats—and the problem is getting worse.

This article was originally published on 2014-10-08
Samuel Greengard is a freelance writer for Baseline.
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