Forrester has released its Best Practices: Insider Risk Management Report. The report is designed to help companies understand the parameters required to develop a fully functioning insider risk program, from conception to implementation.
With insider threat incidents up 44% over the past two years and the costs per incident averaging $15.38 million, it’s little wonder that companies are looking to develop insider risk programs. Even companies with established insider risk programs are taking a second look, making sure it is as robust as it needs to be.
Forrester’s report notes that malicious intent is the leading cause of insider incidences. Understanding the early warning indicators for malicious intent is therefore critical in proactive insider risk management. When it comes to malicious intent, the DTEX i³ Team knows what to look early in the Insider Threat Kill Chain. Request a briefing to learn more.
These are our key takeaways from Forrester’s Best Practices: Insider Risk Management Report.
How People Behave Matters
Security professionals often think solely of what type of technological solution they need to purchase to stop a problem. But insider risk is not just a tool problem. It’s a people problem – first and foremost. Companies have spent billions of dollars trying to understand the mindset of outside threat actors but not nearly as much trying to understand what makes malicious insiders tick. Understanding human behavior and intent is the key to developing an effective insider risk program.
The success of an insider risk program hinges on stakeholder involvement. This is especially true for how a technology champion approaches change management. Insider risk programs not only need buy-in from senior leadership, but they require coordination across multiple departments, including HR, legal, and technology.
This cross-cutting collaboration is important, especially when you consider that most insider risk investigations are initiated outside the IT department. The DTEX i³ 2023 Insider Risk Investigations Report found that 75% of insider risk investigations were launched by HR. Beyond HR, legal support is required to create consistent processes for starting and conducting investigations; any misstep in this area has the potential to open a company up to lawsuits from the impacted employee.
Obey the Law
The laws on how to handle confidential information vary from state to state and country to country. Running afoul of those laws can incur huge fines. When setting up an insider risk program, work with the legal team to make sure the program complies with all applicable laws in the states and countries where your company operates.
It’s Time to Act
Companies that have previously been mostly concerned with external threats are coming to realize they also need to focus heavily on insider risk. As with any new solution, there’s a right way and a wrong way to implement the project. With insider risk, the consequences of doing the wrong can be negative headline-inducing.
Forrester’s Best Practices for Insider Risk Management report offers a wealth of insights to enable you to accelerate your insider risk capability. To learn more, be sure to download a copy. Alternatively, contact us for a demo or discussion on understanding the indicators of malicious intent.