The Average Cost of an Insider Data Breach is Reported at $500,000

As the impact of data breaches continues to plague organizations, including more and more reports of fines as a result of failing to comply with the latest data security regulations. One area of major concern that remains when looking at the office printing environment is the threat posed by internal employees. This includes malicious and accidental user actions which can easily and quickly result in a major data breach. According to a recent report*, just under 53% of IT professionals admit to experiencing at least one insider attack in the past year. In addition, the report identified that over 70% believe insider attacks have become more frequent in the past 12 months, up from 56% over the same period the year before.

 As insider security threats escalate, detecting them appears to be the real challenge, with over 54% of IT managers confirming that these are more difficult to detect than external cyber attacks**.  With the average cost of an insider data breach being just over $500,000***, this needs addressing as incidences can quickly mount up.

There are a number of factors that have contributed to the increase in frequency of insider attacks and these include:

  • Employees having valid credentials to access sensitive data
  • Increased use of insecure mobile devices to access data and printed resources
  • Unsecured printers which also do not have an audit trail or tracking capability in place

An unmanaged printing environment is an area many organizations fail to acknowledge as being a potential threat. When you consider the opportunity for sensitive information to easily be printed undetected, this should be a priority.

To assist enterprise organizations in protecting their data and achieving regularoty compliance, introduce your customers to FollowMe® by Ringdale®. FollowMe works seamlessly with all the major print and MFP vendors, providing the best in class Data Loss Prevention and content monitoring capability, comprehensive reporting and user tracking, as well as mobile print support.

[Download this case study to see how a leading Financial Services organization tackled their data security challenges]

* 2019 Insider Threat Report from Cybersecurity Insiders

**Cost of Insider Threats study from the US Ponemon Institute

***2019 Insider Threat Report from Bitglass

SOURCE Ringdale

Paper Related GDPR Fine Issued by Regulatory Authority