Cyber criminals may be making the headlines, but insider fraud artists – many of them senior, trusted staff – remain the biggest crooks. They fly under organizations’ radar for lengthy periods and cost organizations globally roughly $3.7 trillion a year by one estimate, according to 2013 data from the Association of Certified Fraud Examiners (ACFE).
Strides are being made to combat these stealthy insiders. Sophisticated new technologies are detecting abnormal employee behavior patterns in real time – often before actual fraud occurs. These and other advances are critical to combat insider threats because one solution can’t address all the types of fraud. To protect themselves, companies must adopt a layered approach to cybersecurity.