Why should organizations take insider threats seriously? Because the stakes have never been higher,
especially given the value enterprises place on intellectual capital and trade secrets.
With the rise of Big Data analytics, businesses now store vast quantities of information to uncover important patterns and gain actionable insights. And in many cases, this data contains highly sensitive information—such as customers’ personal data, credit card numbers and transactions, private communications and even locations.
The cost of security breaches averages $5.4 million per year.1 Other consequences include broken privacy laws, class-action lawsuits and reputational damage that can lead to substantial loss—including business closures. And since employees and other insiders have the easiest access to this data—and often little accountability—they perhaps pose the most risk to cyber-security.
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