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ITMG Insider Threat News – February 24, 2022

Great Resignation Shines a Spotlight on Insider Threats

As the so-called Great Resignation seems still to be in full swing, one critical topic is often left out of conversations — cybersecurity concerns specific to the employee exodus. However, security practitioners and analysts warn that insider threats tied to the Great Resignation can pose a substantial risk to organizations.

“We think about two-thirds of all breaches are actually caused by insiders, and typically when it matters is when someone is leaving the company,” Code42 CEO Joe Payne told SDxCentral. “That’s why it’s so closely tied to the Great Resignation, so closely tied to the insider risk problem, and it has become so pervasive”.

CISOs from Siemens, United Airlines, HP Warn on M&A, Insider Threats

Enterprises need to be alert not just to new malware threat types but risks arising from M&A. Additionally, lures being extended by cybercriminals to insiders in return for a slice of a ransom payment — as attacks continue to drive huge revenues for cybercriminals. (One company paid a record $40 million ransom in March 2021).

Yet as United Airlines CISO Deneen DeFiore emphasized, an organizational shift away from a historical focus on cybersecurity as a pure data protection function towards operational resilience was sharpening minds across the business.

The Basics of Protecting Your Intellectual Property, Explained

You’ve got a great idea, maybe the next killer app. You launch, and the next thing you know, you’re wrapped up in a legal battle because, much to your surprise, one small component of your product uses technology that has been patented by someone else before you.

This is one example of the many risks of not understanding IP protections. Whether you’re protecting your own product or protecting your company from infringing on someone else’s, you must factor these precautions into any product or company strategy from the start.

Taiwan Introduces ‘Economic Espionage’ Law Aimed at Chinese Tech Thieves

Taiwan has introduced harsh new national security laws aimed at punishing Chinese interests’ intent on poaching personnel and stealing tech industry secrets.

Premier Su Tseng-Chang said that officials have discovered Chinese nationals “utilizing various methods to lure high-tech talent from Taiwan and steal Taiwanese core technologies.”

Russian Actors Targeting US Defense Contractors in Cyber Espionage Campaign, CISA Warns

The campaign’s victims have included big and small private companies and contractors that have obtained security clearance to do work for the US Department of Defense and the intelligence community, the US Cybersecurity and Infrastructure Security Agency (CISA) said in an alert Wednesday. These cleared defense contractors (CDCs) support contracts for the US government in multiple areas, including weapons and missile development, intelligence and surveillance, combat systems, and vehicle and aircraft design.

Code42 Delivers Three Consecutive Years of Triple-Digit Growth Across its Insider Risk Management Business

Code42 today announced it is beginning 2022 with continued strong momentum in its Insider Risk Management business, growing Annual Recurring Revenue more than 125% in 2021. Code42 is arming organizations with the tools and education they need to make a fundamental shift in the ways company data is protected from theft and loss in today’s collaborative and remote work environment – this focus will continue to drive Code42’s growth in 2022.

“Today, when an employee leaves your organization, there is a one-in-three chance that they will take IP with them. In fact, employees are 85% more likely to leak source code, product plans and customer information than they were even two years ago. Insider risk is not a new data security challenge, but since the beginning of the pandemic, it is a far more urgent one,” said Code42 president and CEO Joe Payne.

This entry was posted on Thursday, February 24th, 2022 at 3:50 pm. Both comments and pings are currently closed.