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Insider Cybersecurity Threat Costs Climb

Report shows not all insider threats are malicious, as negligent insiders account for 62% of all incidents.

cybersecurity training class Report shows the need for better cybersecurity training for employees. (Source: Shutterstock)

A new study from Ponemon Institute, “2020 Cost of Insider Threats: Global,” presented a dramatic upsurge in both the average cost and frequency of insider threats since 2018.

According to the study, commissioned by Proofpoint (via ObserveIT) and IBM, over the last two years, the average worldwide cost from insider threats climbed by 31% from $8.76 million in 2018 to $11.45 million in 2020. In addition, the number of incidents has increased by 47% in just two years, from 3,200 in 2018 (Ponemon) to 4,700 in 2020. “This data shows that insider threats are still a lingering and often under-addressed cybersecurity threat within organizations, compared with external threats,” the study said.

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Roy Urrico

Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).

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