Insider cybersecurity threats can wreak havoc on your business or organization’s critical operations. Understanding how and why they happen is key to finding solutions to keep bad actors from accessing your private information and systems.
Here, we are sharing everything you need to know about these types of threats and how the right security measures can help your organization successfully mitigate insider risks.
Understanding Insider Cybersecurity Risks for Businesses
With cybercrime reaching an all-time high in 2023, businesses must enhance their methods for protecting their sensitive information and systems. The consequences of an attack or data breach can be detrimental to your operations, so learning more about the different types of threats can help you mitigate risks in your digital environment before they become major issues. An element of cybersecurity that enterprises often overlook is insider threats.
What Is an Insider Threat?
An insider threat refers to a cybersecurity risk posed by an individual to whom your business or organization granted authorized access to your private resources, networks or devices. Insiders may include employees, partners, contractors or anyone you trust with knowledge about and credentials for your systems. There are two main types of insider threats — intentional and unintentional.
Intentional Insider Threats
Intentional threats involve an insider deliberately misusing their access to your organization’s systems. They may be interested in interrupting your operations or stealing information for personal gain. Potential motives behind insider threats include:
- Stealing data or intellectual property to use or sell for profit.
- Sabotaging systems as an act of vengeance or revenge on the company.
- Acting on behalf of a third party to access proprietary or strategic information.
- Compromising information to advance personal beliefs or agendas.
Unintentional Insider Threats
Unintentional insider threats occur when a well-meaning individual inadvertently compromises access to your business’s systems or network. Through negligence, lack of awareness or errors, that person accidentally created a vulnerability that cybercriminals can capitalize on to harm your operations.
Common unintentional insider cybersecurity threats include the following:
- Falling for a phishing and social engineering scam
- Utilizing poor password hygiene
- Mishandling credentials or sensitive information
- Clicking malicious links
- Downloading malware on company devices
- Storing private data on unsecured systems
- Using unauthorized software
5 Tips for Mitigating Insider Cybersecurity Threats
According to the United States Cybersecurity and Infrastructure Security Agency, the fundamental framework for mitigating insider threats includes these steps:
- Define
- Detect and identify
- Assess
- Manage
The following are a few helpful tips for combating insider threats with this essential framework in mind:
1. Prioritize Employee Education
An effective way to avoid unintentional insider risks is to provide your personnel with comprehensive training on cybersecurity best practices. When your team is aware of the potential risks, they can make more informed decisions when they believe they’ve witnessed something suspicious. Proper education and training are key to fostering a secure and aware culture at your company. Teach your team what scams and threats may look like and encourage them to report any concerning behavior or activity to management.
2. Perform Regular Security Assessments
Another beneficial tip for combating insider threats is to perform regular cybersecurity assessments. Cybersecurity experts can evaluate your entire digital environment and look for gaps in your protections that cybercriminals could potentially capitalize on.
Periodically assessing your processes and online landscape can help you proactively address weaknesses and implement new strategies to minimize vulnerabilities.
3. Implement Strong Access Controls
Your access controls can make or break your organization’s cybersecurity posture. Regularly review and update your access permissions and credentials to ensure that only specified personnel can reach your critical systems. It can be helpful to restrict user privileges to include only the necessary information or resources needed to fulfill their specific responsibilities.
4. Create an Incident Response Plan
Businesses and organizations can minimize the negative impacts of an insider cybersecurity threat by establishing a comprehensive incident response plan outlining the protocols your team will take if an incident occurs. These plans should include the following:
- Procedures for investigating incidents
- Steps for isolating compromised systems
- Instructions for preserving evidence
- Processes for notifying the appropriate stakeholders after an incident
5. Invest in Data Loss Prevention Solutions
Data loss prevention (DLP) solutions help organizations monitor user activity and detect attempted breaches to better protect your sensitive information. They can reinforce your data policies and minimize the chance of unauthorized access to your systems. You can improve security for your users, customers and proprietary information with the right tools.
Why Is It Important to Identify Potential Insider Threats?
With a 40% increase in insider risk incidents from 2019 to 2023, businesses and organizations must find effective methods for protecting their sensitive information and systems. Explore the following reasons why identifying potential insider threats is critical for your operations:
- Protecting sensitive data: The primary reason for closely monitoring your digital environment for potential insider threats to cybersecurity is to safeguard your sensitive data, proprietary secrets and intellectual property.
- Minimizing damage and impact: The sooner you can identify a threat, the sooner you can implement strategies to combat it. By being proactive, your organization can actively manage threats and reduce the negative impacts they have on your operations.
- Preserving continuity: Flagging potential risks will help your business combat disruptions caused by a breach. By acting fast, you can maintain business continuity and continue delivering uninterrupted services to your customers or clients.
- Maintaining trust and reputation: Keeping potential insider threats to a minimum is essential for maintaining a positive reputation with your customers and stakeholders. Timely detection and a prompt response from your business demonstrate your commitment to security.
- Meeting compliance requirements: Many industries mandate that businesses take proactive measures to secure their digital systems and data to remain compliant. Establishing a plan to mitigate risks is key to fostering the safest and most secure network for your employees, partners, contractors and customers.
- Enhancing overall security posture: Actively addressing insider threats is an important element of your organization’s overall security framework and posture, making it a pivotal aspect of defending your operations as a whole.
Protect Your Business From Insider Threats With Cybersecurity Solutions From Morefield
At Morefield, we understand how crucial it is to have a comprehensive cybersecurity solution for your business. Our services are here to help your organization secure its digital operations and protect your private data.
We can help with a variety of cybersecurity-related solutions, including vulnerability assessments, mobile device management and more. Your business can also turn to us for virtual chief information security officer services to gain access to affordable cybersecurity expertise and assistance.
Are you ready to learn more about protecting your business? Explore the cybersecurity solutions from Morefield and connect with us online to get started today.
