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

One of the key benefits of ITM is its ability to monitor and detect unusual behavior or activities within an organization’s network. By monitoring user behavior and analyzing typical patterns, ITM systems can identify anomalies or red flags that may indicate a potential insider threat. This proactive approach allows organizations to respond quickly and prevent security incidents before they escalate.

In addition to detecting potential threats, ITM also provides organizations with valuable insights into their workforce and internal operations. By studying user activities and performing threat assessments, ITM can uncover weak spots in an organization’s security posture and highlight areas that may require additional training or policy changes. This information can help organizations strengthen their security defenses and better protect their sensitive data.

Another benefit of ITM is its role in fostering a culture of security awareness within an organization. By providing employees with visibility into the potential risks associated with insider threats, organizations can educate their workforce on the importance of cybersecurity and encourage best practices for data protection. This can help create a more security-conscious workforce that is better equipped to identify and report suspicious activities.

Despite its benefits, ITM also faces challenges and limitations. One of the main challenges is the issue of false positives, where legitimate user behavior is inaccurately flagged as a potential threat. This can lead to unnecessary investigations and strain on resources, potentially resulting in decreased productivity and employee morale. Organizations must strike a balance between thorough monitoring and respecting employee privacy to effectively manage insider threats.

Furthermore, ITM is not a cure-all solution for cybersecurity risks. While it can help detect and prevent insider threats, organizations must also implement other security measures such as encryption, access controls, and regular security audits to ensure comprehensive protection. ITM should be seen as one component of a layered security strategy, rather than a standalone solution.

In conclusion, insider threat management is a valuable tool for organizations looking to enhance their cybersecurity posture and protect against internal risks. By monitoring user behavior, detecting anomalies, and fostering a culture of security awareness, organizations can better defend against insider threats and mitigate risks to their sensitive data. While ITM has its challenges and limitations, when used in conjunction with other security measures, it can play a crucial role in safeguarding organizations from the growing threat of insider attacks.

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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