Skip Navigation

ITMG Insider Threat News – December 29, 2021

Is Insider Risk Threatening Your Growth and Innovation?

Insider risk is any user-driven data exposure event, either malicious, negligent, or accidental in nature. Within your organization, think about all the files that have been uploaded, downloaded, synced, and shared across continents and time zones. Regardless of intent, losing control of proprietary and sensitive data can have a significant financial, reputational, and operational impact. They introduce competitive risk, for example, when the crown jewels—source code, product designs, road maps—end up in the wrong hands, like in the case of Proofpoint. From a financial perspective, according to Aberdeen Research, the cost of an insider data breach can be as much as 20% of a company’s annual revenue. The impact is real, and it’s time to address it.

Insider Threats, Supply Chain Attacks and Quantum Threats — Enterprise Security Predictions for 2022

Keith Hollender, global cybersecurity practice lead at MorganFranklin Consulting thinks the move to remote working will lead to more insider threats. “Whether purposeful or accidental, we will see a rise in insider threats and data loss challenges amidst the continued remote work environment. From verifying identities to ensuring sensitive information isn’t stolen, it will remain difficult to control what employees do outside of the office as they remotely access files and systems. For example, organizations will need to grant access to employees but can’t always tell if their identity is legitimate. To secure remote work, it will require very strong identity and access management controls, less privileged access, and more logging and monitoring which are all challenging to execute. Due to these factors, it will remain very easy for threat actors to circumvent remote access controls in 2022.”

Insider Threats: Protecting from Within

Today, Mandiant records more cases than ever in which malicious insiders compromised mission-critical systems, exposed confidential data or extorted their employers. Such incidents can cause significant financial damage and reputational risk. Organizations not only have their own data but the data of customers and suppliers they are entrusted to protect. Organizations should focus on protecting their critical data, assets and crown jewels at a minimum. Unfortunately, most organizations and industries are unaware of the latest malicious insider threat trends.

Identifying Trade Secrets in Litigation, but When?

A trade secret is simply a piece of information that provides the creator with actual or potential economic value derived from the secrecy of the information. It requires the “it” analysis: What is “it” that is alleged to be a trade secret? The “it” analysis is the beginning point and ending point of trade secrets law.

The historical development of trade secrets law starts with the American Law Institute Restatement of Torts Section 757 (1939). The scholars and trial lawyers that worked on this project reviewed the case law in the 19th Century and early 20th Century to determine when a piece of information should be given the special status of a “trade secret.”

Desjardins Proposes $155m Data Breach Settlement

Desjardins, which is Canada’s largest credit union and one of the world’s largest banks, announced on June 20, 2019, that a data breach had occurred.

A joint investigation into the security incident, launched in July 2019 by the Office of the Privacy Commissioner of Canada and its local equivalent in Quebec, found that a “malicious” Desjardins employee had siphoned data.

Cybercrime Cops Arrest NHS Workers

Cybercrime officers in the United Kingdom have arrested two individuals employed by the National Health Service (NHS) in connection with an investigation into suspected fake COVID-19 vaccination records.

The Metropolitan Police’s Cyber Crime Unit launched an investigation after suspicious vaccination records were flagged within the NHS Trust’s online electronic health records system.

This entry was posted on Wednesday, December 29th, 2021 at 10:10 pm. Both comments and pings are currently closed.