Here at Fishtech Group, we often talk about the fact that we are a data-driven cybersecurity services provider, because we believe that real solutions are driven by real data. That’s why we’re so excited about Haystax, a wholly owned subsidiary of Fishtech Group, releasing their 2019 Insider Threat Report with the help of Cybersecurity Insiders.

There are many powerful insights found in this report, and Haystax hosted a webinar to dig a little bit deeper into the findings of the Insider Threat Report!

In the meantime, let’s take a look at a couple useful items found inside.

The Growing Frequency of Insider Threats

Insider threats have evolved into some of the costliest and most challenging risks facing organizations today, and they are growing more frequent every day. Don’t just take our word for it. Directly from the report:

70% of the organizations surveyed think insider attacks have become more frequent in the past 12 months.

That should perk up the ears of every business owner. According to the report, these increasing insider threats were believed to be due to lack of employee training/awareness, increasing number of devices with access to sensitive data, and insufficient data protection strategies or solutions. But, wait a minute, these don’t really sound like malicious causes, do they? You may be on to something…

70% of businesses are most concerned about inadvertent or careless data breaches/leaks.

“Insider threats” often have the connotation of malicious employees willfully causing harm, but as this statistic shows, that isn’t always the case. Insider threats can occur due to carelessness or negligence, as well as by malicious actors. This really expands the potential pool of insider threat sources, and creates more chances for data breaches/leaks.

Without an effective insider risk mitigation program, your most vulnerable data is at risk, including customer data, intellectual property, and financial data. Data is a core strategic asset, and organizations need a plan in place to make sure their most vulnerable types of data are protected as insider threats become more common.

Insider Threat Solutions

One of the most exciting statistics we saw in the report ties directly into our month-long focus on Identity. When asked about what the most effective security tools and tactics to protect against insider attacks –

52% of organizations said Identity and Access Management (IAM).

If you are interested in the rest of the report, you can find the full Haystax 2019 Insider Report here.

As the month of August progresses, we will be focusing on ways Identity and Access Management can help you prevent insider attacks, along with how it can increase efficiencies within your business with on-boarding and off-boarding, among other Identity practices and philosophies.

Be sure to also catch the “ON-DEMAND: Insider Threat 2019 Report Results with Haystax and Cybersecurity Insiders” that took place earlier.