This Ponemon Institute report, sponsored by ObserveIT and IBM, is the third study into the direct and indirect costs from insider threats.
The report found that both the frequency and cost of insider threats have increased over the last two years. The overall cost has increased by 31% from $8.76 million in 2018 to $11.45 million in 2020.
For this report, insider threats were defined as:
• A careless or negligent employee or contractor
• A criminal or malicious insider
• A credential thief
Whether they are caused accidentally or maliciously, insider threat incidents cannot be mitigated with technology alone. Organisations need an insider threat management programme that combines people, processes and technology to ensure they can respond quickly if an incident happens and minimise the overall impact to the business.
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