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COVID-19 and the consequential global transformation to remote working has focused many management teams on how to effectively monitor workers and ensure working practices that lie within organizational risk tolerance.
Security and risk management leaders with a responsibility for technology, information and resilience risk should:
Reduce the risk of insider threats by implementing comprehensive security monitoring for indicators of nonpermitted activities.
The modern risk landscape stretches beyond technical abuse to include theft of proprietary information, creation of false invoices or spurious payroll entries, and other acts of digital embezzlement.
The number of incidents has increased by a staggering 47% in just two years, from 3,200 in 2018 to 4,700 in 2020.
The longer an insider threat incident lingers, the costlier it gets. Incidents that took more than 90 days to contain, cost organizations $13.71 million on an annualized basis
It takes an average of more than two months (77 days) to contain an insider incident.
The financial services industry spent more to contain insider threats per incident than other sectors. Over the past two years, the average financial services industry spend was $14.5 million to contain an incident versus $11.54 million for energy and utilities companies and $10.24 million for the retail industry (a 38% increase in two years).
If you want to reduce the amount of money spent on insider risk detection and at same time to increase the depth and breadth of you detection capabilities then speak to us about CounterCraft.
CounterCraft brings a radically different approach to detecting and preventing insider threat through the use of its automated deception platform the only deception vendor to be referenced by Gartner in their recent research paper on insider threat.
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