Criminal insiders account for 26% of all insider threats; Credential theft accounts for 18%
26% of all insider incidents were brought on by criminal insiders, according to the 2022 "Cost of Insider Threats" report by the Ponemon Institute. Cases of credential theft also doubled last year, accounting for 18% of all insider incidents, the same report found. A favorite technique for stealing credentials is social engineering attacks, primarily phishing.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221129005574/en/
Timus: "Criminal insiders account for 26% of all insider threats" (Graphic: Business Wire)
"These numbers illustrate that criminal insiders and stolen credentials are critical insider threats for organizations." Chris Perry, Channel Sales Manager for Timus Networks, says. "These threats open the door to big data breaches and a lot of damage. This is where Zero Trust architecture, recently endorsed by US President Joe Biden for all federal agencies, comes into play."
Internal threat costs exceed $15 million in N. America
According to the report, insider threats cost North American businesses yearly some $15 million on average. It also points out that such breaches can take up to 85 days to be contained.
In Perry's opinion, the "worst-case scenario" is when attackers break into a network with stolen credentials, steal and encrypt corporate data, disrupt the operations, and ask for a ransom to unencrypt the data.
With the Zero Trust approach, he explains, every user and device accessing the network must be constantly monitored and analyzed. "This way, anomalies and suspicious network activity can be detected in real-time – something most conventional cybersecurity tools don't do."
An 'Immune System' for the modern workplace
“Gartner® predicts* that by 2025, at least 70% of new remote access deployments will be served predominantly by Zero Trust Network Access (ZTNA) as opposed to VPN services.” To provide optimal protection against threats, both external and internal, ZTNA verifies users and devices both before and after they access the network.
Traditional VPN technology struggles to meet the sophisticated needs of modern network environments. ZTNA provides a superior solution by verifying users and devices before and after they access the network, protecting against external and internal threats.
"Timus is an AI-supported SaaS platform designed to 'immunize' modern workplace against cyber-threats," Perry said. "Timus ZTNA stack continuously verifies local and remote access requests based on identities, behaviors and context. This way, it prevents initial compromises as well as lateral movement of malicious activities inside the network."
"Now that remote work and cloud technologies have become indispensable parts of our lives," he added, "ZTNA promises to provide the most effective protection against the cyber threats of this new environment."
###
* Gartner Identifies Three Factors Influencing Growth in Security Spending, October 13, 2022,
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved
###
View source version on businesswire.com: https://www.businesswire.com/news/home/20221129005574/en/
Contacts
Chris Perry
contact@timusnetworks.com
