The life of your business depends on maintaining secret internal sensitive information.
The statistics below were obtained from an independent study made by the Ponemon Institute. They interviewed 964 IT Managers and IT security practitioners in 204 organizations in North America (United States and Canada), Europe, Middle East & Africa and Asia-Pacific. Interviews were completed in September 2019. Each organization experienced one or more material events caused by an insider. The targeted organizations were business organizations with a global headcount of 1,000 or more employees. These organizations experienced a total of 4,716 insider incidents over the past 12 months.
Inside threats have been identified as:
1. Careless or negligent employee or contractor
2. Criminal or malicious insider or
3. Credential thief
Both the frequency and cost of insider threats have increased dramatically over the course of two years. For example, the overall cost of insider threats is rising, with a 31% increase from $8.76 million in 2018 (Ponemon) to $11.45 million in 2020. In addition, the number of incidents has increased by a staggering 47% in just two years, from 3,200 in 2018 (Ponemon) to 4,700 in 2020. This data shows that insider threats are still a lingering and often under-addressed cybersecurity threat within organizations, compared with external threats.
The threat to internal document theft exists in your business regardless of the number of employees. The incidents will be relative to the size of your business, but they will happen with no doubt; do your own proportional assessment using the number of employees in your business and the statistics of the study. The risk is eminent.
Five signs that your organization is at risk
Employees are not trained to fully understand and apply laws, mandates, or regulatory requirements related to their work and that affect the organization’s security.
Employees are unaware of the steps they should take at all times to ensure that the devices they use—both company issued and BYOD—are secured at all times.
Employees are sending highly confidential data to an unsecured location in the cloud, exposing the organization to risk.
Employees break your organization’s security policies to simplify tasks.
Employees expose your organization to risk if they do not keep devices and services patched and upgraded to the latest versions at all time.
TeraKey® solution
TeraKey reduces the risk of internal theft tremendously by maintaining all sensitive documents encrypted; only authorized personnel can open the encrypted files.
Thieves with access to storage space will find encrypted files impossible to be read because the encryption keys were destroyed. The decryption keys only appear when the user needs to decrypt a file and if the user has permission to open the file.
Theft of users' credentials to get encryption keys has no consequences because there is no "Key Management System".
The TeraKey encryption operation is integrated to Explorer, which allows users to encrypt and decrypt files using familiar functionality; file encryption only takes a few seconds.
Contact us for a free trial!
Why wait? Contact us now and request a free trial of TeraCryption. Convince yourself on your own time that the future of document protection is here with the TeraCryption platform.
There is nothing to be installed in your servers, hence your current cyber protection is not affected at all. In less that 15 minutes, you can be encrypting files in your own computer, because files never leave your company.
By the way, you do not need to worry about managing encryption keys for each document. Let TeraCryption take care of all automated technical operation to protect documents with unbreakable encryption invented over a century ago and by using a process perfected by TeraCryption’s modern patented technology.
It is very simple. Go to Contact us and fill in the form or send us an email to sales@teracryption.com.
Prepared by TeraCryption Corporation.
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Reference: 2020 cost of insider threats.
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