Cybersecurity threats can cause severe damages to your business. These threats may come from inside or outside your organization. As the world leans toward the new norm of remote work and software application reliance, there’s a need for us to devote more attention to the risks coming from inside the organization.
User-centric security threats are examples of such internal risks. These threats arise when individuals from your organization take advantage of their access to information for malicious motives. Stealing or misusing confidential and sensitivecompany information for their self-benefit may be one of these reasons. Even more frequently, these risks arise from accidental behaviors as a result of these individuals being compromised by an outside player. From phishing attacks to worse data breaches,a weak link in your human security chain can cause real and costly problems. For this reason, understanding the nature of user-centric security threats is fundamental to building a technology-enabled cybersecurity strategy that would best suit your organization’s needs.
According to cybersecurity research reports, in addition to office-based employees, the company’s customers, contractors, consultants, remote employees, and suppliers are also frequent targets of such attacks.
Moreover, these reports indicate that user-centric security threats pose a delicate problem for companies. The reason being, companies must always strike a balance between trusting and empowering their employees while ensuring that guardrails to stop insider threats and security incidents are set in place.
User-Centric Data Breaches are Common and Costly
Recent Cybersecurity research articles reveal that the headlines we see so often regarding massive data breaches are just the tip of the iceberg. The majority of the respondents to these research articles shared that their organization experienced at least one data breach over the last three years. More than half of these respondents (70%) added that they’d experienced at least four breaches in those years. This somehow implies that the bigger the company, the more likely it is to be breached.
As far as the consequences of these breaches go, these companies said that they experienced disruptions that included:
· IP losses, and;
· Reputation losses.
Furthermore, these businesses expect the breaches to be much more common and more likely to occur over the coming years. Almost half admitted that they feel they can face a major data breach within the next three years. At the same time, those who have been breached in the past believed that they would experience more breaches coming from inside the organization.
Insiders are MoreLikely to be the Main Cause of Malicious Attacks Againstthe Organization
As many of the cybersecurity reports point out, user-centric security threats are the primary cause of breaches – not the failure of technology or process. The risks that your company may be exposed to can include phishing, ransomware, and business email compromise (BEC), wire transfer fraud, and more. System misconfiguration and accidental data exposure do happen, but the majority of the actual threats show that humans are the root cause. In many cases, contractors, consultants, and external players are involved, and not the company employees. With the COVID-19 situation today, the new norm that we are currently experiencing only magnifies the possibility of these types of breaches lurking around your organization.
Taking User-Centric Security Seriously
Because of the surfacing of these risks, CISOs, and other security leaders in top companies, like Atlassian, are recognizing the importance of investing in people-centric technology solutions. These solutions span from email security, web isolation, zero-trust network access, to endpoint-based behavior solutions such as Insider Threat Management. This has become a major topic of conversation in the CSuite and at board meetings, given that these important stakeholders “strongly support” efforts to control cybersecurity risks, including user-centric ones.
It is only with the support of these key players that companies can begin to develop and deploy effective user-centric strategies that will help reduce the risk of fraud and IP losses. While the cost of these threats is high and their prevalence increasing, the seriousness with which they are treated right now is a sign that collectively, we are headed in the right direction.
User-Centric Approach to Insider Threats using Actionable
Augmented Intelligence (AAI)™
At InCyber, we believe that the best solution to prevent insider threats is employing a predictive approach through the use of Augmented Intelligence. We highly encourage you to visit our website at https://www.incyber1.comto learn more about the nature of user-centric security threats and how successful modern businesses are addressing them. Request a 3-month free license now and discover the benefits of our Actionable Augmented Intelligence solution.