How to Respond to Insider Threats to Your Business’s Data

Are you prepared for the hidden dangers inside your business? Insider threats can pose a significant risk to your business’s data, and these threats often come from within your own organisation. Whether it’s on purpose, like an employee aiming for personal gain, or accidental due to carelessness, the results can be serious.

Insider threats can result in:

• Data breaches
• Financial losses
• Reputational damage
• Regulatory penalties
• And More

The Verizon Data Breach Investigations Report found that 74% of data breaches involve a human element. This includes insider threats, showing how important it is for businesses to handle them well. In this guide, we’ll look at how to spot insider threats, act quickly when they happen, and take steps to protect your business’s sensitive data. With the proper steps in place, you can manage and reduce these risks, ensuring your business stays secure.

Understanding The Types of Insider Threats & Their Impact

Take a look at the 2024 Annual Review by the National Cyber Security Centre (NCSC). They found that human error and insider risk are common in cyber incidents reported by UK organisations. This shows that domestic firms face the same challenges noted by Verizon. Insider threats come in many forms, each presenting different risks to your business’s data security.

The Main Types of Insider Threats

Each type of insider threat presents a unique challenge, but they all share one thing in common. They can cause significant damage to your business if not properly managed.

• Malicious Insiders: These are employees or contractors who misuse their access to systems and data on purpose. Their motivations may include personal gain, revenge, or sabotage. Malicious insiders can intentionally leak, steal, or damage sensitive data.
• Negligent Insiders: These insiders, often well-meaning, unknowingly expose or mishandle data. This can happen when an employee clicks on a phishing email or leaves sensitive documents unattended. Yet it is they who create an opportunity for a breach.
• Compromised Insiders: A hacker gains access to the system by using credentials stolen from a trusted insider. The compromised individual may not even be aware that their account has been hijacked. This leaves the business vulnerable to cyberattacks.

Signs of an Insider Threat

Detecting insider threats early can significantly reduce their impact. Keep an eye out for these warning signs.

• Unusual Access Patterns: Employees accessing a lot of sensitive data without a genuine business need.
• Attempts to Bypass Security:
  • Insiders may try to disable security measures.
  • They might use unapproved devices.
  • They could transfer data outside the company network.
• Behavioural Changes: Watch for employees acting unusually. Signs may include being secretive, feeling dissatisfied with the company, or having odd working hours.
• Frequent Policy Violations: Regularly ignoring cybersecurity rules or using unauthorised software or tools.

By keeping an eye on these signs, you can detect potential threats early. Tools like user behaviour analytics (UBA) and data loss prevention (DLP) systems can automate monitoring. They alert you to suspicious activities before they escalate.

How to Respond to Insider Threats

Insider threats can harm your business a lot. This includes malicious insiders, careless employees, or stolen credentials. Quick detection and response are vital to minimising the impact on your data and reputation.

The Information Commissioner’s Office (ICO) has a step-by-step framework for managing data breaches. This guide covers incidents caused by insiders as well. It helps you from the beginning of containment and risk assessment to legal notification requirements. You’ll find template letters and checklists to ensure you meet UK data protection law.

In this section, we’ll discuss what to do right away if you suspect an insider threat. We’ll also look at long-term steps to keep your business safe from future risks.

Immediate Actions to Take

When an insider threat is suspected, acting swiftly is crucial to minimise damage and protect your business. Here are the key steps to follow.

1. Monitor & Investigate: Use digital forensics tools to track user activity and analyse any anomalies. These tools spot suspicious behaviour. This includes accessing data without permission or trying to bypass security protocols.
2. Restrict Access: If you suspect malicious intent, revoke access to sensitive systems and data right away. Limiting an insider’s ability to cause further damage is vital to protecting your business.
3. Engage HR & Legal Teams: Team up with your HR and legal departments. This helps make sure all actions follow company policies and data protection laws. This also helps maintain confidentiality and protect against legal repercussions.

A clear insider threat response plan helps ensure these steps are followed quickly and efficiently when needed. If your business does not already have a response plan, it’s time to implement one to safeguard your data.

Long-Term Preventive Measures

Once the immediate threat is contained, focus on putting in place long-term measures to reduce future risks.

1. Implement Access Controls: Use the principle of least privilege (PoLP). This means employees should only access the data and systems they need for their roles. Regularly review and adjust access permissions as employees’ roles evolve.
2. Conduct Regular Data Security Audits: Regular audits ensure your security protocols are followed. They also help you find any potential weaknesses in your system before someone can exploit them.
3. Ongoing Employee Training: Make employee security awareness a priority. Recognises threats like phishing, protects sensitive information, and follows data protection rules. This can help reduce negligent insider threats significantly.
4. Implement Continuous Monitoring: Use tools for constant monitoring of your systems. This helps spot potential insider threats in real-time. Combining manual checks with automated monitoring offers comprehensive coverage.
5. Strengthen Third-Party Access Controls: Does your business work with external contractors or vendors? If so, ensure third parties follow the same security protocols as your internal team. Regularly review their access levels to prevent exploitation.

Acting early on insider threats can cut risks and help protect your data.

Proactive Security Starts with Insider Threat Awareness

Insider threats are a major risk to your business’s data, whether intentional or accidental. They can lead to financial loss, reputational damage, and penalties. The key to reducing these risks is to respond proactively and wisely. This means detecting issues early and taking long-term preventative steps.

Stay vigilant by implementing:

• Access controls
• Regular audits
• Employee training

A tailored plan from Town & Country can help reduce insider threats and safeguard your business from potential harm. Contact us today to create a personalised insider threat response plan and protect your data.

Give us a call on 01202 514444 or book a free consultation to learn how we can help you mitigate insider threats.