According to The Ponemon Institute’s report, “2018 Cost of Insider Threats: Global Organizations,” the average cost of an insider threat annually is $8.76 million. It’s critical for organizations to understand the main causes of insider threats, because detecting insiders in a timely manner could save millions of dollars. Depending on the industry and size of company, the cost of an insider threat varies dramatically.
“Insider threats continue to threaten organizations across the globe, ultimately resulting in loss of mission critical data, downtime and lost productivity, and even reputational damage,” said ObserveIT CEO Mike McKee. “Understanding the growing costs and time associated with preventing and managing insider threats, organizations need to invest in a holistic cybersecurity solution to assist with real-time detection, deterrence, education and prevention.”
Read more about the disconcerting findings of the new Ponemon Institute report on Help Net Security.