Insider Threat Management (ITM) Statistics, Trends And Facts 2023

As technology becomes more integrated into businesses and organizations, the risk of insider threats also increases. Insider Threat Management (ITM) solutions are designed to help organizations detect and prevent malicious activity from insiders.

In this article, we will explore insider threat management statistics to provide insights into the current state of insider threats and how ITM solutions can help mitigate them.

Insider threats can have devastating consequences for organizations, including data breaches, financial losses, and reputational damage. According to a recent report by Verizon, 30% of all data breaches involved insiders.

The report also found that 49% of insider breaches were caused by accidental actions, while 51% were the result of malicious intent. ITM solutions are essential tools for organizations to detect and prevent insider threats.

ITM Stats

1. 34% of data breaches involve internal actors. (Source: Verizon 2021 Data Breach Investigations Report)
2. 56% of employees admit to accessing corporate data from personal devices. (Source: 2020 IBM Security Report)
3. 62% of organizations experienced an insider attack in the past 12 months. (Source: Ponemon Institute 2020 Cost of Insider Threats Global Report)
4. 40% of insider incidents involve accidental breaches. (Source: IBM 2020 Cost of Insider Threats Report)
5. 68% of organizations say they are vulnerable to insider threats. (Source: Ponemon Institute 2020 Cost of Insider Threats Global Report)
6. 52% of IT professionals say insider threats are more difficult to detect than external threats. (Source: 2021 Cybersecurity Insiders Insider Threat Report)
7. 71% of organizations have a formal insider threat program in place. (Source: Ponemon Institute 2020 Cost of Insider Threats Global Report)
8. The average cost of an insider threat is $11.45 million. (Source: Ponemon Institute 2020 Cost of Insider Threats Global Report)

ITM Facts

1. Insider threats can come from employees, contractors, vendors, or business partners who have access to an organization’s network, systems, or data.
2. Insider threats can be intentional (e.g., theft of confidential information, sabotage) or unintentional (e.g., accidental data disclosure, human error).
3. Insider threat management solutions use a combination of technologies (e.g., user behavior analytics, data loss prevention, access controls) and policies (e.g., employee training, incident response) to identify, investigate, and respond to insider threats.
4. Insider threat management solutions can help organizations comply with data protection regulations (e.g., GDPR, CCPA) and industry standards (e.g., PCI DSS, HIPAA).
5. Insider threat management solutions can be deployed on-premises or in the cloud, depending on the organization’s security and compliance requirements.

ITM Benefits

1. Early detection and prevention of insider threats can reduce the risk of data breaches and financial losses.
2. Insider threat management solutions can help organizations identify and remediate security gaps in their network and data protection policies.
3. Insider threat management solutions can improve employee awareness and accountability for security best practices and policies.
4. Insider threat management solutions can help organizations meet compliance requirements and avoid penalties or reputational damage.
5. Insider threat management solutions can provide a centralized view of security events and alerts, enabling faster response times and more effective incident management.

ITM Trends

1. The global insider threat management market is expected to grow from $1.2 billion in 2020 to $2.8 billion by 2025, at a CAGR of 18.8%. (Source: MarketsandMarkets Insider Threat Detection Market)
2. Cloud-based ITM solutions are expected to grow faster than on-premises solutions due to their scalability, flexibility, and lower upfront costs. (Source: MarketsandMarkets Insider Threat Detection Market)

Insider Threats Overview

• The average cost of an insider threat is $8.76 million. (Ponemon Institute)
• 60% of employees who leave a company take sensitive data with them. (Biscom)
• 90% of IT professionals feel vulnerable to insider threats. (Bitglass)
• 58% of IT professionals believe that insider threats are more difficult to detect than external threats. (Bitglass)
• 74% of organizations feel vulnerable to insider threats, up from 55% in 2019. (Code42)
• The most common types of insider threats are theft of intellectual property, sabotage, and fraud. (Ponemon Institute)
• 66% of insider threats are caused by current employees, while 22% are caused by contractors and 12% by former employees. (Ponemon Institute)
• 30% of all data breaches involved insiders. (Verizon)
• The average time to identify an insider threat is 77 days. (Ponemon Institute)
• The average cost to remediate an insider threat is $2.69 million. (Ponemon Institute)

Insider Threat Detection

• 68% of insider threats are detected by employees, while 42% are detected by IT. (Ponemon Institute)
• 29% of insider threats are detected by accident. (Ponemon Institute)
• 59% of organizations use user behavior analytics (UBA) to detect insider threats. (Code42)
• 48% of organizations use security information and event management (SIEM) solutions to detect insider threats. (Code42)
• The top three technologies used to detect insider threats are email monitoring, endpoint detection and response (EDR), and network traffic analysis. (Code42)
• IT professionals spend an average of 43 hours per week on insider threat detection and response. (Bitglass)

Insider Threat Prevention

• 88% of organizations believe that user awareness and training can prevent insider threats. (Ponemon Institute)
• 80% of insider threats can be prevented through user education and awareness. (Biscom)
• 71% of organizations use data loss prevention (DLP) solutions to prevent insider threats. (Code42)
• 61% of organizations use identity and access management (IAM) solutions to prevent insider threats. (Code42)
• The top three technologies used to prevent insider threats are DLP, IAM, and encryption. (Code42)
• 66% of organizations monitor employee use of removable media, such as USB drives, to prevent insider threats. (Code42)

26. The average cost of an insider threat incident is $11.45 million per organization. (Ponemon Institute)
27. In 2020, 68% of organizations had experienced an insider threat incident, up from 60% in 2019. (Verizon)
28. The most common types of insider threats are accidental data breaches (49%) and negligent employees or contractors (47%). (Verizon)
29. According to a survey of IT professionals, 67% believe that insider threats are more difficult to detect and prevent than external threats. (Proofpoint)
30. Only 47% of organizations believe they are well-prepared to handle insider threats, and 57% say their budgets for insider threat programs are inadequate. (Accenture)
31. The average time to detect an insider threat is 77 days, and the average time to contain it is 72 days. (Ponemon Institute)
32. Organizations that had a formal insider threat program in place had a 40% lower cost per incident than those without one. (Ponemon Institute)
33. The most effective technologies for detecting and preventing insider threats are user behavior analytics (UBA), data loss prevention (DLP), and security information and event management (SIEM) systems. (SANS Institute)
34. Employee training and awareness programs are the most important factors in preventing insider threats, according to 75% of IT professionals. (Proofpoint)
35. Only 27% of organizations have a comprehensive insider threat program that includes people, processes, and technology. (Ponemon Institute)

Insider Threat Prevention Strategies

Effective insider threat prevention requires a combination of people, processes, and technology. Here are some strategies that organizations can use to reduce their risk of insider threats:

1. Develop a formal insider threat program that includes policies, procedures, and technologies for detecting and preventing insider threats.
2. Conduct background checks on all employees and contractors before they are hired.
3. Implement access controls and user activity monitoring to prevent unauthorized access to sensitive data and systems.
4. Implement data loss prevention (DLP) technologies to prevent employees from accidentally or intentionally sharing sensitive data.
5. Provide regular training and awareness programs to educate employees on the risks of insider threats and how to report suspicious activity.
6. Implement a strong incident response plan that includes steps for detecting, containing, and mitigating insider threats.
7. Regularly review and update security policies and procedures to ensure they are up-to-date and effective.

Conclusion

Insider threats pose a significant risk to organizations of all sizes and industries. The statistics above highlight the prevalence and impact of insider threats, as well as the importance of having a comprehensive insider threat program in place.

By implementing effective prevention strategies and investing in the right technologies, organizations can reduce their risk of insider threats and minimize the financial and reputational damage that can result from these incidents.