According to a recent study by Insider Risk Management firm Code42, data breaches from insiders can cost as much as 20% of annual revenue. In its latest report, Code42 says that at least one in three (33%) reported data breaches involve an insider.
Over three-quarters (78%) of those insider data breaches involve unintentional data loss or exposure, demonstrating that malicious data theft and exposure is not the most significant Insider Risk facing security teams, says the report.
75% of organizations don’t have consistent, centralized visibility into file movements happening across their environments, highlighting that a majority of organizations lack the tools they need to surface detail and context about their file exposure.
In 2020, during the pandemic, a data breach was 4.5 times more likely to happen on end-user endpoints than back-end servers, emphasizing the importance of endpoint security for borderless workforces, the report reveals.
Even today, trusted insiders cause an average of 13 data exposure events every day by moving corporate files to untrusted locations via email, messaging, cloud or removable media.
The report also reveals the potential impact of data exposure events on a business, which can cost as much as 20% of annual revenue.
“Without visibility into the enterprise file movements, the process of making business decisions (i.e., data governance) with respect to your Insider Risk is based on mere intuition, gut and that needs to change,” stated Derek Brink, vice president and research fellow at Aberdeen.
“Valuable enterprise files are always on the move — in support of your organization’s initiatives for productivity, collaboration, digital transformation, and intelligent automation. The past three years have shown that potential data loss or exposure is more likely to succeed on endpoints than on servers and it’s getting worse.”