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.

How much of an impact will Insider Threat Management (ITM) Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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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 detect and prevent malicious activities carried out by employees, contractors, or business partners. Traditional security measures such as firewalls and antivirus software are necessary but may not be enough to counter insider threats. ITM provides organizations with the capabilities to monitor user behavior, detect anomalies, and take action to prevent data breaches or other malicious activities.

Moreover, ITM tools can help organizations identify and address vulnerabilities within their systems that could be exploited by insider threats. By continuously monitoring and analyzing user activities, organizations can proactively identify security weaknesses and implement measures to strengthen their overall security posture.

Another advantage of ITM is its ability to provide visibility into various aspects of an organization’s security posture. By gathering and analyzing data on user behavior, ITM tools can provide insights into potential risks, security gaps, and compliance issues. This information can be valuable for decision-makers in allocating resources effectively and prioritizing security initiatives.

Furthermore, ITM can help organizations improve compliance with industry regulations and standards. By monitoring user activities and enforcing security policies, organizations can demonstrate their commitment to protecting sensitive data and complying with legal requirements. This can be especially important for organizations operating in highly regulated industries such as healthcare, finance, or government.

Despite its benefits, ITM also comes with its challenges and limitations. One of the common challenges faced by organizations implementing ITM is the balance between security and employee privacy. Monitoring and analyzing user activities can raise concerns among employees about their privacy rights and may lead to resistance or pushback from staff.

Moreover, ITM tools require skilled personnel to manage and interpret the data and alerts generated. Organizations may struggle to find and retain qualified cybersecurity professionals who can effectively use ITM tools to protect against insider threats.

Additionally, ITM tools are not foolproof and may not be able to detect all types of insider threats. Advanced threats carried out by malicious insiders with sophisticated tactics may bypass traditional ITM measures, making it essential for organizations to complement ITM with other security technologies and practices.

In conclusion, while ITM can be a valuable tool in addressing insider threats and improving an organization’s security posture, its effectiveness depends on several factors such as the organization’s security maturity, regulatory requirements, and employee buy-in. As cyber threats continue to evolve, organizations must continuously evaluate and enhance their ITM strategies to stay ahead of insider threats and protect their sensitive data.

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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