Here’s the bad news: Cybercrime is a growing threat, and criminals are getting away with millions of dollars. Even worse, many are reinvesting their gains into new technology and refining their tactics.
But there’s good news: With proactive strategies and an understanding of emerging threats, businesses can protect themselves. One critical area to address today is insider threats—individuals within an organization who either maliciously or inadvertently cause harm.
What Are Insider Threats?
Insider threats come in various forms, from disgruntled employees exploiting their privileged access to well-intentioned staff who unintentionally cause data breaches. According to CISA, an insider is anyone with authorized access to an organization’s assets who uses that access to harm the organization.
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The damage caused by insider threats can be severe, as these individuals often have legitimate access to systems, making it harder to detect malicious activity. Recognizing insider threat behavior patterns is key to spotting potential risks early.
Why Insider Threats Matter More Than Ever
As companies become more interconnected and reliant on technology, insider threats pose a growing risk to business continuity. IBM's research indicates that 60% of all data breaches result from insider threats—whether accidental or intentional. These threats are particularly dangerous because they bypass perimeter defenses designed to stop external cybercriminals.
Businesses must adopt a comprehensive approach to cybersecurity that not only strengthens external defenses but also identifies and mitigates risks from within.
Expanding Cyber-Attack Targets: Remote Work, IoT, and the Supply Chain
The rise of remote work and the Internet of Things (IoT) has introduced new vulnerabilities to both external and insider attacks. According to Demand Sage, there are an estimated 17.08 billion IoT-connected devices worldwide, each representing a potential target for cybercriminals. SonicWall’s 2023 data shows a 37% increase in IoT attacks in the first half of the year, totaling 77.9 million attacks, with projections to surpass the 2022 record of 112.3 million attacks.
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These statistics emphasize the growing focus on IoT devices by cybercriminals and the importance of securing every endpoint. Conducting regular security audits is a critical step in identifying and mitigating risks. Companies must understand their attack surface—both external and internal—and deploy scanning technologies, incident alert tools, and diagnostic systems to defend against breaches.
Ransomware Continues to Evolve
Ransomware is a threat not only from external actors but also from insiders who may aid in or enable these attacks. The rise of Ransomware as a Service (RaaS) gives more criminals access to advanced ransomware tools. Networks like REvil and DarkSide demonstrate that these threats are evolving rapidly, making it essential to secure defenses against both external and internal threats.
Elevity responds to several ransomware incidents each year, including cases with insider involvement. Recovery and remediation from these incidents often require in-depth investigations to determine if an insider facilitated the breach.
The Role of Human Error in Insider Threats
While some insider threats are malicious, many arise from human error. Well-meaning employees can inadvertently cause significant harm by falling for phishing attacks, misconfiguring systems, or failing to follow security protocols. Employee education is vital, and regular training helps staff recognize potential threats and understand the consequences of their actions.
Implementing multi-factor authentication (MFA) significantly reduces the risk of insider threats. While some IT departments are hesitant to adopt MFA due to concerns about employee inconvenience, its value in enhancing security is undeniable. Companies should opt for secure MFA methods, such as app-based authentication tools, to avoid vulnerabilities like SMS interception.
Strengthening Your Defense Against Insider Threats
Effective prevention and response strategies for insider threats require more than just technology—they also involve vigilance, robust cybersecurity policies, and tools to monitor for unusual behaviors. According to CISA, building a strong insider threat program involves fostering a culture of awareness, implementing continuous user activity monitoring, and establishing clear policies governing access and behavior.
Some steps businesses can take include:
- Conducting thorough background checks on new employees.
- Limiting access to sensitive information based on role-specific needs.
- Providing regular training on insider threats and security best practices.
- Utilizing advanced threat detection systems to identify unusual patterns in network activity.
- Establishing a clear process for reporting suspicious behavior.
Learn More: How Often Should You Do Cybersecurity Awareness Training
Elevity: Your Partner in Insider Threat Mitigation
As insider threats continue to rise, businesses need a trusted partner to help navigate these risks and safeguard their assets. Elevity is here to assist in identifying vulnerabilities, strengthening internal defenses, and responding quickly to threats. Whether you're concerned about malicious insiders or unintentional risks, our team provides the expertise and tools to keep your business secure.
By working with Elevity, you can protect your business from both internal and external cybersecurity threats, ensuring continuity and peace of mind. Get started by downloading our free guide on Cybersecurity Tips for Employees to strengthen your company’s defenses today.
