For any organization, insider attacks are like a severe illness: prevention is better than the cure. Like illnesses, insiders mask their malicious actions and can harm your organization for a long time before you detect them. This harm can be in the form of a loss of data, customers, money, etc.   Planning a risk mitigation process helps to stop insider attacks at the early stages or reduce their potential damage.

As businesses emerge from a pandemic year, cybersecurity concerns are necessarily top of mind . Companies face expansive cybersecurity threats on many fronts, prompting 75 percent of business leaders to view cybersecurity as integral to their organization’s COVID-19 recovery. They undoubtedly face an uphill battle. Surging ransomware attacks and increasingly deceptive phishing scams are attracting national attention, while more than 500,000 cybersecurity jobs remain unfilled in the US alone.

The costs and consequences of a data breach or cybersecurity incident have never been more severe. According to the FBI’s recently released Internet Crime Report 2020, cybercrime resulted in $4 billion in losses last year, a low estimate that still encapsulates the incredible value lost to threats actors. For small businesses, the costs can be catastrophic. As Vox reports, 60% of small businesses will close after a data breach, underscoring the high-stakes bottom-line nature of cybersecurity.

Securing an organization’s sensitive data is hard, especially when the danger comes from within. A careless coworker may insecurely share credentials, an intruder may compromise an account, or a malicious insider may misuse their access rights. According to the 2020 Cost of Insider Threats Report [PDF] by IBM, 60% of organizations experienced more than 20 insider-related incidents in 2019. One promising solution to prevent insider threats is user and entity behavior analytics (UEBA).