Study reveals insider threats cost organisations US $ 15.4 million annually , up 34 % from 2020
Negligent insiders are the root cause of 56 % of cyberattack incidents , while credential thefts have almost doubled and are the costliest to remediate , at an average of over US $ 800,000 per incident . Proofpoint has released brand new research showing that businesses globally are losing around £ 11.4 million ( US $ 15.4 million ) every single year because of insider cyberthreats .
Proofpoint , a leading cybersecurity and compliance company , has released its 2022 Cost of Insider Threats Global
Report to identify the costs and trends associated with negligent , compromised and malicious insiders . Notably , on average , impacted organisations spent US $ 15.4 million annually on overall insider threat remediation and took 85 days to contain each incident .
The report , independently conducted by Ponemon Institute , is issued every two years and now in its fourth edition . It surveyed over 1,000 IT and IT security practitioners across North America , Europe , Middle East , Africa and Asia-Pacific . Each organisation included in the study experienced one or more material events caused by an insider . The report reveals that over the last two years , the frequency and costs associated with insider threats have increased dramatically across all three insider threat categories , including : careless or negligent employees / contractors ; criminal or malicious insiders ; and cybercriminal credential theft .
Ryan Kalember , Executive Vice President , Cybersecurity Strategy , Proofpoint
“ Months of sustained remote and hybrid working leading up to ‘ The Great Resignation ’ has resulted in an increased risk around insider threat incidents , as people leave organisations and take data with them ,” said Ryan Kalember , Executive Vice President of Cybersecurity Strategy at Proofpoint . “ In addition , organisational insiders , including employees , contractors and third-party vendors , are an attractive attack vector for cybercriminals due to their far-reaching access to critical systems , data and infrastructure . With people now the new perimeter , we recommend layered defences , including a dedicated insider threat management solution and strong security awareness training , to provide the best protection against these types of risks .”
Key findings of this year ’ s 2022 Cost of
Insider Threats Global Report include :
• Organisations impacted by insider threats spent an average of US $ 15.4 million annually – that ’ s up 34 % from US $ 11.45 million in 2020 .
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