When company leaders and managers consider their cybersecurity risks, they too often focus on their vulnerability to external threats only. While state-sponsored attacks, phishing attacks, ransomware, and third-party software infiltration are becoming more prevalent in the current threat landscape, it’s important that those potentialities don’t distract attention from the dangers posed by insider threats.

The average cost of a cyberattack in the United States is 9.5 million. With over 60% of businesses going bankrupt after experiencing a severe data breach, robust security measures to safeguard organizations’ digital assets and operations are urgently needed. A powerful tool gaining significant traction in addressing these challenges is Security Information and Event Management (SIEM).

Consider this: it’s not a question of if, but when, an insider threat attack will strike your company. A malicious insider, armed with legitimate access, can execute an insider attack. The aftermath? It can leave a lasting mark on your corporate reputation, intellectual property, security team, and employee morale.

Are your cybersecurity tools working together effectively? UEBA (User Entity Behavior Analytics) and SIEM (Security Information and Event Management) are two of the most potent cybersecurity solutions in modern organizations, but they serve very different purposes. UEBA identifies risky behaviors, while SIEM collects and analyzes security data across your network.

Cyberattacks are an ever-present danger for organizations. However, it’s crucial for security teams to recognize that the threat isn’t limited to external actors. Insider threats, originating from within the organization, are a growing concern. In fact, the frequency of data breaches caused by insider threats has surged by nearly 40% since 2018, now accounting for 60% of all breaches.

Insider risk management targets threats from the very heart of an organization—its people. Whether intentional or accidental, actions by insiders like employees, contractors, or partners can lead to severe financial and reputational damage. And as high-profile incidents of corporate sabotage and intellectual property theft by insiders continue to make headlines, businesses can no longer afford to be complacent.

As cyber threats continue to surge and malicious insiders pose significant risks, user and entity behavior analytics (UEBA) tools have become an essential component of a comprehensive security strategy, helping organizations to detect anomalous behavior and hidden threats.

Employee theft isn’t just a financial issue; it can erode trust and damage company morale. These employee theft statistics highlight the prevalence of workplace theft across key categories including data theft, time theft, fraud and embezzlement, insider threats, and retail theft.

Data breaches and external threats are concerns for any security professional, but the most catastrophic security vulnerabilities often originate from malicious insider threats. This is not just an issue, it’s a pressing and immediate concern that demands our utmost attention. Here, we identify how to spot a malicious insider and provide proven strategies for preventing insider threats with technology-based solutions to protect your organization.