Insider threats can be just as damaging, if not more so, than external cyber threats. According to a report by Ponemon Institute, the average cost of an insider-related incident is around $11.5 million. Insider threats come from current or former employees, contractors, or partners who have access to sensitive data, systems, or networks.
These threats can be malicious or unintentional, but in either case, they can lead to significant financial losses, reputational damage, and legal liabilities. Mitigating insider threats is a critical part of any cybersecurity strategy, and CyberArk offers solutions that can help.
Here are some ways that CyberArk solutions can help mitigate insider threats:
Privileged Access Management: CyberArk's privileged access management solution provides a comprehensive approach to securing privileged accounts and credentials, which are often the targets of insider threats. By restricting access to privileged accounts and monitoring their usage, CyberArk can prevent unauthorized access and detect suspicious activity in real-time.
Endpoint Security: CyberArk's endpoint security solution provides advanced threat detection and prevention capabilities, allowing businesses to monitor user behavior, detect anomalies, and respond to incidents quickly. This solution can prevent insiders from using endpoint devices to steal or damage sensitive data.
Identity and Access Management: CyberArk's identity and access management solution provides a centralized platform for managing user identities, access rights, and permissions. By enforcing least privilege access, CyberArk can reduce the risk of insider threats and prevent users from accessing data or systems they shouldn't have access to.
Privileged Session Management: CyberArk's privileged session management solution can monitor and record privileged sessions, providing a detailed audit trail of user activity. This solution can detect suspicious behavior and provide evidence in the event of an incident, which can help with investigations and compliance requirements.
Threat Analytics: CyberArk's threat analytics solution can help businesses identify and respond to insider threats by analyzing user behavior and detecting anomalies. This solution can provide alerts and notifications when unusual activity is detected, enabling businesses to respond quickly and prevent damage.
In conclusion, insider threats are a significant risk for businesses, but CyberArk offers solutions that can help mitigate these threats. By implementing privileged access management, endpoint security, identity and access management, privileged session management, and threat analytics, businesses can reduce their risks and protect their sensitive data and systems from insider threats.