Security News > 2021 > July > What is the cost of an insider data breach?

According to a recent study conducted by Aberdeen, an insider data breach can cost as much as 20% of annual revenue.

Allowing the freedom of data movement and keeping trade secrets, including source code, and confidential customer lists, business plans, pricing and the like - secure from malicious and unintentional insider risks will be a continuing challenge if security organizations don't recast their data security strategies and approach to data stewardship.

The impact of an insider data breach 33% of reported data breaches involve an insider.

78% of those insider data breaches involve unintentional data loss or exposure, demonstrating that malicious data theft and exposure is not the most significant insider risk facing security teams.

"Data stewardship has become a boardroom imperative. And while insider risk is not a new problem in security, managing it effectively in today's open and collaborative business climate - with enough resources - is," said Joe Payne, Code42's president and CEO. "We know that one out of three data breaches involve an insider, though it's likely much higher. Important ideas and key IP encompasses much more than just the company crown jewels - it's the very digital and portable information like source code, customer lists and salary structures - data that when taken can leave a devastating impact on a company's competitive position and bottom line."

IP value: in cases involving an IP breach, the total impact is up to 440% of the revenue generated by the IP. As companies continue to adapt their security postures for modern working environments, managing insider risk and unintentional data exposure and leaks will increasingly become a focal point of successful data security strategies.

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