When it comes to protecting sensitive information from cyber-attacks, often external threats come first in mind, while the risk of insider threats is still rather underestimated. In Ponemon Institute’s recent study it has been reported that since 2008 the cybersecurity incidents resulting from insider threats, have been increased by 47%, along with a 31% rise in related costs.
But What Are Insider Threats?
A possible insider threat can originate from anyone related to the company who has access to the company’s data to any degree. Despite the common belief, most incidents aren’t resulting from wittingly malicious acts but simply due to lack of some carefulness. This kind of negligence include users exposing themselves to phishing or clicking on a spam email’s malicious link.
Unfortunately, these incidents are hard to recognize, traceback and put to an end. Therefore the cost can quickly escalate. Especially since the user who caused the incident, in most cases have access to several software and systems throughout the organization. If the user has privileged access than the caused harm can be even greater. With the possibility of modifying, destroying or stealing valuable information and sensitive data, the business itself may suffer huge damage.
While working from home became the new normal, many companies did not improve their cybersecurity strategy, although the risk of internal threats has significantly increased.
To minimize the risk of insider threats implement these 5 practices:
Implement secure remote access gateways
With the recent situation more and more companies need to — often quickly — set up remote working environment, often not having the expertise about VPN services and the possible security issues. Using traditional VPN services carry a lot of dangers, instead, companies should set up a secure remote access gateway for users with privilege credentials. Several access management systems are available to choose from.
Use Secure, Central Vaults for Privileged Credentials and Passwords
Requiring setting strong passwords is only one step towards security; use central vaults and assign privilege credentials for required access. Easily implementable with the help of a Private Access Management software.
Implement Least Privilege Approach
Avoid the practice of assigning higher access privilege credentials ahead needed for carrying out future possible tasks. Adopting the Least Privilege Approach means that each user has only access to the systems they currently need to perform their tasks.
Ensure Secure Third-Party Access
Some systems need to be accessed by partner companies and other contractors, in this case often flexibility for using different devices and networks is required.
Reduce the risk, by implementing a secure access gateway for partners that accessing your servers from outside of the network.
Revisit Offboarding Policies
Employees leaving the company bear some risks, and most organisations have a process to minimize these dangers but do they pay extra attention for example to employees with special accesses?
It can be handled easily by implementing privileged account access automation. The automation can include shutting down unused accounts, resetting passwords and authentication credentials.
Should you be interested in private access management solutions, visit Xton Technologies for more information.