14 DAY TRIAL // Attachmate Corporation and Ponemon Institute have released the results of the annual “The Risk of Insider Fraud” survey. The results show that, on average, organizations experience one fraud event each week.
On the other hand, only 44% of the respondents said their organizations focused on preventing insider threats.
Worryingly, it takes a company around 87 days to discover insider fraud, and around 105 days to determine the root cause.
In addition, the figures show that 73% of respondents have admitted that an employee’s mischiefs have caused financial losses and possibly even brand damage.
Instances in which a staffer uses someone else’s credentials to gain elevated rights is not that uncommon, with 81% of organizations reporting such practices.
And since this is a study about enterprise security, the bring-your-own-device (BYOD) trend could not be left aside. It turns out that BYOD practices have led to an increase in fraud risk, especially because of the lack of protocols.
“This data demonstrates the invisibility of employee actions across an enterprise,” explained Larry Ponemon, chairman and founder of Ponemon Institute.
“While organizations may have policies and procedures to thwart insider fraud, it doesn’t mean employees will remain compliant, particularly with the rise of Bring Your Own Device (BYOD) practices.”
“Data security and insider threats continue to be a challenge for organizations, particularly as BYOD brings complexity to enterprise risk management,” said Christine Meyers, director of Attachmate’s enterprise fraud management solutions.
“Next-generation enterprise fraud management solutions, such as Attachmate® Luminet®, are able to correlate cross-channel activity, score risk and provide a screen-by-screen replay of what actually occurred,” Meyers added.
“Add to that the proven deterrence factor that arises from being able to see and monitor use and abuse, and you can see why customers choose to deploy this technology for fraud detection.”
The study is based on the responses of 700 individuals from leading global organizations.
The complete report is available here.