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 🙂

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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]

Also Read

How Useful is Insider Threat Management Itm

But how effective is ITM in actually safeguarding against insider threats? While there is no foolproof solution to completely eliminate this risk, implementing proper ITM processes and technologies can significantly mitigate the likelihood and impact of insider threats. By continuously monitoring employee activities and behavior, ITM tools can quickly detect any anomalies or suspicious behavior that could indicate a potential threat.

One of the key benefits of ITM is its proactive nature. Rather than simply reacting to security incidents after they occur, ITM allows organizations to take a more preemptive approach by identifying potential threats before they escalate into major security breaches. This early detection can help companies respond quickly and effectively, minimizing the damage caused by insider threats.

Another advantage of ITM is its ability to provide valuable insights into employee behavior and motivations. By analyzing data on employee activity, organizations can gain a better understanding of their workforce and identify any patterns or trends that could indicate potential threats. This insight can inform training programs and policies that help prevent insider threats from occurring in the first place.

Additionally, ITM solutions can help companies maintain compliance with industry regulations and data privacy laws. Many regulatory bodies require organizations to implement measures to protect sensitive data from both external and internal threats, and ITM can help ensure that companies meet these requirements. By documenting and analyzing employee activities, organizations can demonstrate their commitment to data security and compliance.

While ITM can be a valuable tool in mitigating insider threats, it is important to recognize that it is not a one-size-fits-all solution. Effective ITM requires a combination of technology, policies, and employee awareness to be successful. Organizations must tailor their ITM strategies to their specific needs and circumstances, taking into account factors such as company size, industry, and the sensitivity of the data being protected.

Furthermore, ITM should be integrated into a comprehensive cybersecurity strategy that addresses both insider and external threats. While ITM can help protect against threats from within the organization, companies must also invest in measures to defend against external cyber attacks and other security risks.

In conclusion, insider threat management can be a valuable tool for organizations looking to protect their data and assets from internal security threats. By implementing proactive monitoring and analysis tools, companies can detect, deter, and respond to insider threats more effectively. However, ITM is just one piece of the cybersecurity puzzle, and organizations must take a holistic approach to protecting their data and assets from all potential threats.

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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