Industry executives and experts share their predictions for 2019. Read them in this 11th annual VMblog.com series exclusive.
Contributed by Mike McKee, CEO of insider threat management provider ObserveIT
How Insider Threats Will Evolve in The Coming Year
Since 2016, the average number of cybersecurity incidents
involving employee or contractor negligence has increased by 26
percent, and by 53 percent for criminal and malicious insiders. Further,
the average number of credential theft incidents has more than doubled over the
past two years, increasing by 170 percent (Ponemon).
We believe 2019 will be no different. In the coming year, we expect to see a
continued upswing in insider threat-related incidents, stemming from
advancements in technology, changing workplace demographics and even economic
and political tensions.
As we face a heightened risk environment, it will be even
more important this year for organizations to revisit their insider threat
protection strategy to make sure valuable data isn't being leaked
unintentionally or maliciously.
Here are four ways we see the insider threat landscape
evolving in 2019:
The cost of malicious insider threat - related incidents will
rise
2019 will be the costliest year to date when it comes to
malicious insider threats. International tensions and the hyper-competitive
corporate sphere have created an environment that has empowered disgruntled
employees and bribed insiders. Between 2016 and 2018, the average number
of incidents involving criminal and malicious insiders increased by 53 percent.
We believe 2019 will top this and, in turn, be the costliest year for malicious
insider threats on record.
5G connectivity will present new challenges
The impending deployment of 5G connectivity as the ability
to create a more vulnerable security landscape, particularly as it relates to
insider threats. With 5G, both malicious actors and accidental insiders can
work faster and export more data in less time. With that, organizations need to
take preemptive steps before 5G's to deployment to make sure their
infrastructure is prepared for the new reality of connectivity, speed and data.
Refusing to do so will lead to more substantial and costly insider threat
incidents in 2019.
New generations entering the workplace will pose
additional risk
In 2018 more than one third (34 percent) of 18-24-year-olds
reported that they don't know nor understand what is included within their
company's cybersecurity policy. As such, generation Z and entry level employees
with poor knowledge of organizational security will cost companies the most
money due to insider threat incidents in 2019, compared to any generation.
Nation state attacks will target critical infrastructure
We expect nation state threats to increase significantly in
2019, particularly targeting critical infrastructure. Critical infrastructure
systems are extremely vulnerable to both cybersecurity and physical security
risks. State-sponsored threats and high-level hackers are constantly looking to
gain access to the critical infrastructure of nations worldwide, with the
intent of hitting some of our most valuable systems (national security, public
health, emergency communications, and more).
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About the Author
Mike brings 20+ years of cross-functional, global experience in
technology to ObserveIT. Previously, Mike led the award-winning Global
Services and Customer Success organizations at Rapid7, served as Senior
Vice President CAD Operations and Strategy at PTC, and Chief Financial
Officer at HighWired.com. Additionally, he held Analyst roles at
Broadview Associates, McKinsey & Company, and Goldman Sachs. Mike
played professional hockey as a defenseman for the Quebec Nordiques. He
graduated cumlaude from Princeton University and received an M.B.A.,
with honors, from Harvard Business School.