Insider Threats to Critical IT Assets is on the Rise
July 05, 2016 | Privileged Access Management, Insider Threat, Data-Breach
Data-breach incidents nowadays have not just become far too rampant but the losses arising out of those attacks have also risen sharply. A recent annual Cost of Data Breach Study commissioned by IBM and conducted by Ponemon Institute found that the average consolidated cost of data breach has now risen to $4 million from $3.8 million in 2013.
Although organizations have become more vigilant in the wake of rising number of cyberattacks, hackers and organized cybercriminals are still able to inflict heavy losses by breaching into IT systems. That’s possible because they are now more technically advanced. They have tools and competence to take advantage of vulnerabilities.
Not surprising, one of the most demanding issues faced nowadays by organizations is the growing number of data-breach incidents. Indeed, in the last five years, our ever expanding but increasingly vulnerable cyberspace has witnessed 2.5 billion data-breach incidents.
As organizations look to gain competitive edge, more money is spent on IT infrastructure to gather, access and interpret data. However, an extensive IT network also means more and more people, -- employees and third party partners—have access to your IT systems. This means that organizations’ critical IT systems are constantly under threat from misuse.
But more worryingly, a rising number of data-breach incidents have shown that it is the insider who now poses the biggest threat.
A recently released Verizon Data Breach Investigation report found that in 2015 businesses recorded more than 100,000 data-breach incidents. 10,489 of those incidents were caused due to “Privilege” and “Insider” misuse.
That’s not hard to fathom given that theft of personal information, and critical data are now traded as ‘commodities’ in exchange for money. Hackers were selling 117 million users and passwords following 2012 LinkedIn data breach.
This alarming trend underscores the fact that organizations will need to seriously look into the insider threats. There is an urgent need to reinforce IT systems by adopting a Privileged Access Management Solution which essentially allows to monitor, protect and audit any unusual activities by malicious actors.
ARCON is a leading enterprise risk control solutions provider, specializing in risk-predictive technologies. ARCON | User Behavior Analytics enables to monitor end-user activities in real time. ARCON | Privileged Access Management reinforces access control and mitigates data breach threats. ARCON | Secure Compliance Management is a vulnerability assessment tool.
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