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Information technology moves fast. Recent advances have led to streamlined business operations and innovative products and services. They have also opened up new avenues for fraud. Breach announcements disclosing information leaks and theft of privacy data are so commonplace, many of us turn a deaf ear to them and a blind eye to the underlying vulnerabilities they represent. But should we? What is it that these events actually represent?
In some cases, these incidents are the result of an outside-in attack. Worms, malware, phishing scams come to mind. However, it’s easy to overlook the insider threats that lurk in every business. No one likes to think that their trusted insiders–employees, contractors, consultants, and even trusted business partners–could be committing fraud and data abuse from within their systems. Frankly, it is an ugly thought. And, unfortunately, it’s a reality. The wide array of threats that businesses face often originate from the inside.
In today’s fast paced, connected business environments, anyone can exploit the privileges and knowledge they have acquired about business operations and practices to commit fraud, violate privacy protections, and steal valuable confidential information. Fortunately, detection and prevention practices and applications are adapting to the threats posed by malicious insiders.
As you consider your risk profile and how to mitigate such abuses within your own systems, consider the power of continuous monitoring and continuous audit. With the next-generation monitoring technologies, you and your auditors can have greater confidence that data is safe and protected, that your policies are actually being followed and that you can quickly spot “bad actors” intent on doing harm or introducing error.
