Insider threats and the talent gap: What are organizations missing in their cybersecurity defense?10/24/2023 Link:https://info.cygnvs.com/resources/insights/insider-threats-and-the-talent-gap-what-are-organizations-missing-in-their-cybersecurity-defense
Large and small organizations alike are both highly susceptible to insider threats. And it’s even harder to prevent them with the lack of internal oversight brought on by a talent gap in the cybersecurity industry. In this article, let’s take a look at some common types of insider threats that your organization is likely to fall victim to, and how the talent gap increases your vulnerability. From there, we’ll share strategies for leveraging technology to help you reduce the likelihood of having your data stolen by an insider threat – and discuss how you can recover quickly if it happens to you. What is an Insider Threat? An insider threat is a cybersecurity risk that originates from inside the organization, arising from an individual with a level of authorized access or data visibility within your environment – and the cause can be either malicious or unintentional. In a malicious insider threat, an individual is knowingly causing harm to a business. In some cases, employees or contractors are being paid by third-party groups to grant them access to confidential data within corporate environments, as the hacking group Lapsus$ famously did to gain access to data at Microsoft and other companies. In this case, Lapsus$ was able to gain contacts all over the world, as they were able to purchase access credentials from individuals who were frustrated with their companies, enabling the threat actor to log in and cause damage before the company realizes anything is amiss. Other malicious acts may be caused by employees who are whistleblowers and are deliberately stealing and exposing data to show corporate malfeasance, or those trying to enact revenge on the company to settle a grievance. Other insider threats are unintentional in nature and take place as a result of social engineering by a threat actor. For example, the employee may click on a phishing link where they’ll enter their corporate account credentials, or they may give confidential information to someone who is posing as an internal authority, such as the company CEO. Phishing attacks are one of the most common types of cybercrime, with 92% of organizations falling victim to phishing attacks in 2022, a 29% increase from the year before. In these situations, the employee had no malicious intent, but the end result is no less devastating. Insider threats of all types can lead to devastating business losses, including business disruption, reputation damage, intellectual property theft, legal liabilities to stakeholders whose data was leaked, and remediation costs. The average total cost of a data breach in 2023 was $4.45 million. The Cybersecurity Skills Gap Amplifying the insider threat problem, many organizations are also facing a significant cybersecurity skills gap. Only 44% of business leaders and 46% of cyber leaders say that their organizations have the people and skills they need today for adequate cybersecurity defense. In fact, 3.4 million cybersecurity experts are needed globally to support today’s digitized economy. Recruiting is a challenge, and employers struggle to retain highly qualified cybersecurity staff: Gartner predicts that nearly half of all cybersecurity leaders are likely to change jobs due to job-related stresses by 2025. When turnover happens, important institutional knowledge is lost, and organizations are more susceptible to phishing attempts and other types of cyber attacks. Organizations are also likely to hire more underqualified employees, who will take time to build the necessary skills to establish and maintain a strong cybersecurity posture for the business. Fortunately, bringing in the right technology solutions can help you reduce the negative consequences of shortfalls on your cybersecurity team. How CYGNVS can help Leveraging a best-in-class cybersecurity incident response platform like CYGNVS gives you the tools to overcome staffing shortages in helping you identify and respond to cybersecurity incidents. CYGNVS offers a secure, out-of-band communications platform where your organization can:
Learn more about using CYGNVS to manage your response to insider threats. Visit us at CYGNVS.com or get a demo today.
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Alex WaintraubAlex Waintraub is a seasoned cybersecurity professional with over a decade of experience in IT, Security Operations, and DFIR. He excels in security analytics and leads both small and large-scale cybersecurity teams. For the past decade, Alex has specialized in managing security operations, including triage, validation, and escalation of incidents. His expertise spans SOC enhancements, Incident Response Plans, ransomware negotiations, threat hunting, and intelligence operations. He delivers robust cybersecurity services to global clients across multiple industries and speaks at national conferences and his NJ Cyber Fireside Chat (cyberfiresidenj.com). Archives
November 2024
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