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The Insider Threat: Is Your Business Protected?

06 September 2019

by Megan Walsh

Your business has fallen victim to a malicious cyberattack – but how did it happen? Could it have been a glitch in your security system? Or a weakness discovered by a notorious hacker?

I hate to break it to you, but it probably wasn’t any of those things. It’s more likely that the culprit of the crime is sat right inside your organisation.

You’ll have heard of the insider cyber threat: when a malicious threat to a business originates from someone within the organisation. But did you know that the insider threat is responsible for more than half of all cyberbreaches?

A recent report by McKinsey found the insider threat present in over 50% of cybercrimes reported in 2018.

And the majority of these cybercrimes aren’t malicious attacks from disgruntled employees who have a vengeance on your organisation – the majority of these crimes are occurring without the instigator even knowing.

According to a report by PwC, negligent end users are the cause of 44% of data breeches.

And it’s just another sign of the times. The rise of SaaS applications has made it easier for your employees to access the server from anywhere. Our digitised age means we can log on using our smart phones, laptops, tablets, etc. and can go from place to place, connecting to various end points.

But with each connection comes increased risk to the safety of your organisation’s most sensitive data. Sadly, firewalls and malware protection are no longer enough. Advances in technology have widened the playing field for sophisticated hackers, who are constantly deriving cunning ways to trick your employees into leaking valuable information about your organisation.

Educating your people on phishing scams and password strength will help – but it’s not going to solve the problem.

The risk of cybercrime is at a record high. Now more than ever your organisation needs to be able to keep its valuable information secure – which means if you want to deter cybercriminals, you need to invest in your IT security team.

Finding the right security team will be the greatest investment you can make for your business – a market study from Juniper Research found that the cost of data breaches will account for over $5 trillion by 2024.

So why wait until it’s too late - when your business has suffered the devastating consequences from a weak security system?

It’s a risk you don’t want to take. We are currently working with cyber professionals across Europe, Asia and the US. Our expert consultants are here to advise you on the necessary action needed to protect your business, so give us a call and we’ll be happy to talk about any of your concerns.

Contact Vinny Hughes on +44 (0) 203 861 9190 or email him at vinny.hughes@ojassociates.com for a confidential discussion about your business needs.

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