Some people assume that most cyberattacks come from criminal masterminds. However, in 2020, insider threat actors were responsible for 30% of all data breaches. In terms of data protection, an insider threat can be defined as an employee, team member, or 3rd-party vendor who engages in the deletion, modification, or theft of sensitive or confidential data. Insiders are extremely dangerous to organizations, as they can sabotage security measures, cause financial loss, damage property or brand reputation, and even cause injury or loss of life.
Large corporations have taken considerable measures in the past decade to combat insider threats through prevention and detection techniques. Meanwhile, small-to-midsize organizations have been left vulnerable due to their lack of financial and human resources. It’s critical for small organizations to detect and respond to insider threats, and develop an effective insider threat program. Insider threats are difficult to identify, and data breaches caused by them are “significantly more costly than those by an external threat.”