Insider Threat Management (ITM) Statistics


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Insider Threat Management (ITM) Statistics 2023: Facts about Insider Threat Management (ITM) outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Insider Threat Management (ITM), and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

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Top Insider Threat Management (ITM) Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 17 Insider Threat Management (Itm) Statistics on this page 🙂

Insider Threat Management (ITM) “Latest” Statistics

  • According to the Ponemon Institute, the average worldwide cost of insider threats increased by 31% to 11.45 million in only two years, while the number of events increased by 47% over that same time.[1]
  • Leading cryptocurrencies fell 9% last week, and since November 2021, they have fallen more than 70%.[1]
  • According to a Ponemon report from 2021, an insider with hostile intent was implicated in 26% of data breaches.[2]
  • The most pressing issue, according to 55% of firms, is that a hacker may obtain an employee’s legitimate login information.[3]
  • Negligence was the cause of 56% of occurrences, and the average cost to fix an incident was $6.6 million.[3]
  • This year’s analysis found 1,247 occurrences, or 18%, involving credentials that were stolen.[3]
  • At an average cost of 648,062, malicious insiders were responsible for 26% of the occurrences, or 1,749.[3]
  • The biggest expense increases are in monitoring, surveillance, and escalation, at 114% and 113% respectively.[3]
  • The cost of responding to an insider threat event has climbed dramatically since 2016 by roughly 80%.[3]
  • 20% of the cost of insider events is related to investigation and incident response activities.[4]
  • Even more, pronounced growth was seen in the retail sector, where the price of insider security incidents increased by 62% to $16.56 billion in 2021.[4]
  • Insiders who are careless insiders account for the biggest proportion (56% 1) of occurrences involving credential theft (14% in 2020 vs. 18% in 2022).[4]
  • To lessen the danger of insider threats, more than 50% of businesses use security awareness training, data loss prevention, insider threat management, and third-party vetting procedures.[4]
  • Second permissible deviation ranges may be set up around the baseline patterns, for example, a 5% variation in the daily number of individuals entering a sensitive area.[4]
  • From 2020 to 2022, the price of fixing an insider security issue rose by 34%, from 11.45 million to 15.38 million.[4]
  • Spending has increased by 80% over the last eight years, with containment activities having the greatest cost per activity1.[4]
  • Organizational costs associated with credential theft grew by 65%, from 2.79 million in 2020 to 4.6 million in 2022.[4]

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How Useful is Insider Threat Management Itm

ITM involves monitoring and analyzing employees’ actions and behavior within an organization to identify any potential signs of malicious intent or negligence. By utilizing various tools and technologies, ITM aims to detect and prevent insider threats before they can cause harm.

One of the primary reasons why ITM is so crucial is that insider threats can be difficult to detect and mitigate using traditional cybersecurity measures. Unlike external threats, insiders already have authorized access to sensitive systems and information, making it easier for them to exploit vulnerabilities and carry out attacks without raising suspicion. This makes insider threats a significant risk to any organization, regardless of size or industry.

Furthermore, insiders may have greater knowledge of an organization’s operations, processes, and security measures, allowing them to circumvent existing defenses more effectively. This insider knowledge can make it challenging for organizations to fully understand the level of risk they face from within their ranks.

ITM plays a vital role in addressing these challenges by providing organizations with the tools and insights needed to proactively identify and respond to insider threats. By monitoring employees’ behavior, ITM can detect unusual or unauthorized activities, such as accessing sensitive information or downloading large amounts of data. This early detection can help prevent data breaches and financial losses before they occur, saving organizations time, money, and reputational damage.

Moreover, ITM can also help organizations identify and address potential insider threats due to human error or negligence. While not all insider threats are malicious, mistakes or oversights by employees can still result in data breaches and security incidents. ITM can assist in educating employees on cybersecurity best practices, raising awareness of the potential risks posed by insider threats, and enforcing security policies to mitigate these risks effectively.

In conclusion, Insider Threat Management is a valuable asset for organizations seeking to enhance their cybersecurity efforts and protect against insider threats. By monitoring employee behavior, detecting suspicious activities, and educating staff on cybersecurity best practices, ITM can help organizations identify and mitigate the risks posed by malicious insiders and unintentional threats alike. In today’s digital age, where data is a valuable asset, investing in ITM is a proactive step towards safeguarding sensitive information and ensuring business continuity.

Reference

  1. yahoo – https://au.finance.yahoo.com/news/proofpoint-introduces-cloud-based-observeit-120510370.html
  2. cybersecurity-excellence-awards – https://cybersecurity-excellence-awards.com/candidates/proofpoint-insider-threat-management-itm-4/
  3. socradar – https://socradar.io/insider-threats-rising-average-cost-of-an-incident-is-6-6m/
  4. webinarcare – https://webinarcare.com/best-insider-threat-management-software/insider-threat-management-statistics/

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