Key points

• Insider threats can cause significant data breaches and financial losses.
• Identifying insider threats can be challenging due to their familiarity with internal systems.
• Effective prevention requires a comprehensive approach to monitoring and security.
• Metomic offers advanced tools to enhance detection and mitigation of insider threats.

While much of an organisation’s security focus is on external attackers, it’s just as important to keep an eye on the risks that come from inside the organisation.

Insider threats are one of the biggest risks to data security, and account for around 60% of data breaches. These threats come from within the organisation, often involving employees, contractors, or trusted partners.

Unlike external attacks, insider threats involve individuals who already have access to important systems and data, making them harder to spot and prevent.

It’s crucial for modern security strategies to address insider threats. Whether intentional or accidental, insider threats can lead to serious consequences like data breaches, financial loss, and reputational damage.

This guide will cover what insider threats are, how they can occur, the warning signs to look out for, and strategies to prevent them. We’ll also show how Metomic’s solutions can help safeguard your organisation against these risks.

What is an insider threat?

An insider threat happens when someone within an organisation—like an employee, contractor, or partner—misuses their access to cause harm.

These threats can be tricky to spot because, unlike external attacks, they come from people who already have permission to access sensitive information.

A well-known example of an insider threat involved Tesla in 2023. Two former employees leaked sensitive personal data to a German media outlet, exposing the names, addresses, phone numbers, employment records, and social security numbers of over 75,000 current and former employees.

This breach not only damaged Tesla's reputation but also created serious privacy concerns for those affected.

The impact of insider threats isn’t just about the immediate breach. In 2023, the average annual cost of insider risks skyrocketed to $16.2 million per organisation. So, beyond the reputational hit, businesses can face enormous financial consequences too. That’s why it’s so important for organisations to get a handle on insider threats before they escalate.

Who can be a typical insider threat?

When we think about insider threats, it’s easy to assume they come from disgruntled employees. While that’s often true, insider threats can actually come from a variety of people within or connected to your organisation.

It’s not just about employees; contractors, business partners, or even former staff can pose risks.

Here’s a breakdown of how insider threats stack up:

• Malicious insiders are responsible for 26% of incidents. These are individuals who intentionally cause harm, typically for personal gain or revenge.
• Negligent insiders account for a staggering 56% of incidents. They don’t mean to cause damage, but their carelessness, like clicking on a phishing link, can lead to major issues.
• Credential theft makes up the remaining 18% of incidents. This happens when someone’s login details are stolen and used by an outsider, but it looks like legitimate access.

Certain characteristics can make people more likely to become insider threats. For example, employees who are dissatisfied or under financial stress may be tempted to exploit their access.

On the other hand, a business partner who has too much access and not enough oversight might unknowingly expose your organisation to risk.

In reality, insider threats can come from anyone with access to your systems, whether they mean harm or not. That’s why it’s essential to keep an eye on behaviour and access patterns, not just job titles.

What are the warning signs or behavioural indicators of potential insider threats?

Spotting an insider threat can be tricky, but there are often warning signs if you know what to look for. Many of these signs are subtle, so it’s important to stay vigilant and aware of any unusual behaviour.

Here are some common warning signs that might suggest an insider threat:

• Accessing systems at odd hours – If someone is logging into your systems late at night or during weekends when they’re not supposed to be working, that’s a red flag.
• Excessive data transfers – Moving large amounts of data, especially to personal devices or unfamiliar locations, can signal trouble.
• Unusual interest in sensitive information – If an employee suddenly starts poking around in areas of the network that don’t relate to their job, it’s worth investigating.

In terms of behavioural indicators, these could include:

• Dissatisfaction or resentment towards the organisation: An unhappy employee may be more likely to act out, especially if they feel undervalued or mistreated.
• Being withdrawn: Withdrawing from team activities or becoming unusually secretive about their work could suggest someone is hiding something.
• Taking on extra work: Taking on extra tasks with enthusiasm, especially ones that grant them access to sensitive data, can also be a sign. While it might seem like initiative, it could be part of a more harmful plan.

Other examples of suspicious behaviours to watch for include people asking for access to information they don’t need, or bypassing security protocols. Changes in work patterns or sudden reluctance to follow company procedures can also be key indicators of insider activity.

What risks are involved when dealing with insider threats?

Insider threats can wreak havoc on a company’s data, systems, and overall security. Unlike external threats, these come from individuals who already have access to sensitive information, making their potential impact both severe and difficult to detect.

The damage to data and systems can be extensive. Insiders might delete, corrupt, or steal critical files, risking the integrity of your systems. They could even shut down entire systems or expose sensitive information, causing significant disruption to business operations.

Insider threats not only involve the direct theft of valuable intellectual property but also result in costly downtime. Incidents that take longer than 91 days to contain can cost a staggering $18.33 million. Beyond this, the costs of regulatory fines for non-compliance due to breaches can add up quickly, further straining your budget.

Reputational damage is another serious consequence. After a breach, rebuilding trust with your customers can be an uphill battle with 66% of consumers saying they would not trust a company following a data breach. Losing customer confidence can be devastating, and regaining it may take years—some businesses might never fully recover.

An inadequate response to insider threats can lead to long-term issues. Without effective security measures, your organisation remains vulnerable to further attacks. Failure to identify and address these threats promptly can result in continued damage and erosion of trust, undermining your security and reputation.

How can organisations mitigate insider threats from data breaches or loss?

Tackling insider threats requires a solid mix of awareness, smart tools, and security policies. Here are some practical ways organisations can keep data safe:

• Security awareness training: Training employees can reduce security incidents by 70%, helping them spot threats and avoid mistakes.
• Multi-factor authentication (MFA): Using MFA can block 99% of attacks by adding an extra layer of protection beyond just passwords.
• Data Loss Prevention (DLP): DLP tools monitor sensitive data, ensuring it doesn’t end up in the wrong hands.
• User and Entity Behaviour Analytics (UEBA): These tools look for unusual user behaviour to spot any potential insider threats early on.
• Strict access controls: Only allowing access to sensitive data on a need-to-know basis helps prevent unnecessary exposure or leaks.

How can Metomic help?

Metomic has a range of solutions designed to handle insider threats, making sure your organisation stays protected.

Here’s how Metomic can make a difference:

• Automating access controls: Metomic helps you enforce strict access controls, so sensitive data doesn’t get shared internally by mistake or remain accessible longer than it should.
• Sensitive data discovery and classification: Metomic automatically scans your SaaS tools to discover where sensitive data is stored and classify it, giving you a clear picture of what needs protecting.
• Real-time scanning and alerts: For platforms like Slack, Metomic can scan in real-time and alert you if sensitive documents are being overshared, helping you avoid data leaks before they happen.
• Redacting and quarantining risky data: If Metomic detects sensitive data at risk, it can automatically redact it or quarantine the content to stop leaks before they cause harm.

These tools make it easier to manage insider threats, giving your team the control and protection needed to secure your SaaS environments.

Want to see Metomic in action?

Getting started with Metomic is quick and easy, and it can make a huge difference in securing your organisation’s data.

‍Book a personalised demo with one of our data security experts. We’ll walk you through how Metomic can be tailored to fit your organisation’s specific data protection needs and insider threat prevention strategies.