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ICFE eNEWS #19-21 - June 24th  2019

Intellectual Property & Trade Secrets - Gone In 60 Seconds

What your company spent years to develop can be lost in an instant at the hands of "Just 1 Malicious Employee", with the click of a mouse. The continued incidents of employee theft, intellectual property and other malicious actions, paint a dark picture of what employees do when they are disgruntled, moving on to a new job, are under financial pressure, or trying to live a life style beyond their means, and may find a strong incentives to steal from their employers.

Detecting and mitigating against Insider Threats is one of the most difficult challenges for companies, organizations, and governments. In fact, behind phishing, it is most often ranked as one of the top cyber security challenges by CISO's and CIO's.

External Hackers are not the only threat your business or organization may be facing. One of your biggest risks comes from your own employees. A recently published Harvey Nash / KPMG survey of nearly 4,500 CIOs and tech leaders globally, finds that the Insider Threat problem is the fastest-growing one of all.

Every year, the comprehensive Verizon Data Breach Investigations Report (DBIR) provides the industry with a deep dive into the latest trends in cyber security incidents. The 2019 report found that Insider Threat incidents have been on the rise for the last four years. This year's report also shows that 34% of all breaches happened as a result of Insider Threat actors.

More than any other industry, healthcare's breaches are overwhelmingly caused by insiders, with nearly 60% tied to Inside actors. Healthcare is the only industry where insider-caused breaches outnumber external attack vectors

Numerous other reports and incidents related to Insider Threats provide clear evidence that malicious employee actions can be very costly and damaging to organization. Posted on the National Insider Threat Special Interest Group and the Insider Threat Defense Group web sites are some eye opening reports and incidents related to the Insider Threat problem.

Insider Threat Has Many Definitions

The Insider Threat problem is not just about stealing an organizations data. The threats employee may pose to an organization can be vast. The importance of defining what constitutes an Insider Threat in your organization is critical. The definition of Insider Threats is board, and goes far beyond what compliance regulations define as Insider Threats.

Which Of These Are Concerns To Your Organization?

Employee Threats (To Include; Contractor / Trusted Business Partner)
Disgruntled Employees / Job Jumpers
Bullying Turns Into Workplace Violence
Sexual Harassment Turns Into Workplace Violence
Divided Loyalty Or Allegiance To U.S. / Terrorism
Espionage (National Security, Economic, Industrial, Corporate)
Fraud
Data Theft (Trade Secret / Intellectual Property)
Personally Identifiable Information (PII) Theft (Identity Theft)
Data Destruction, Information Technology / Network Sabotage
Insiders Who Are: Unwitting, Ignorant, Negligent (Violations Of Security Policies)
Phishing (Credential Theft: Cyber Criminals Become Insiders)
Cyber Criminal - Insider Threat Collusion (Data On Dark Web For Sale)
Nation State Sponsored Insider Threat

Security Certification

Contributing to the problem of mitigating Insider Threats, is that some organizations assume that security certifications holders have the knowledge required to detect and mitigate Insider Threats, and to develop / manage the organizations ITP. Having the in-depth knowledge to mitigate Insider Threats requires more the just having a security certification. There are numerous security certifications that attempt to set baseline knowledge and skill standards for positions in Cyber Security, Information Assurance, Information Security, Information Systems Security, IT / Networking Security, etc. But none of these certifications address, nor provide the core knowledge an individual needs to successfully mitigate Insider Threats. Mitigating Insider Threats requires a holistic enterprise approach, and is more than just a counterintelligence, security or IT problem.

Insider Threat course information here.


Paul S Richard PhotoICFE eNEWS is available FREE upon request by visiting our Web site and filling out the contact form, and selecting "Yes" for "Add to Mailing List. Please pass this eNEWS on to your peers and interested others and invite them to subscribe for free. Also, visit the ICFE's new Web site: StudentDebtHelp.org

Sent by:

Paul S. Richard
President - Executive Director
Institute of Consumer Financial Education (ICFE)

About the ICFE:

The Institute of Consumer Financial Education (ICFE) was founded in 1982 by the late Loren Dunton (creator of the Certified Financial Planner (CFP) designation and founder of the College for Financial Planning in Denver, CO.) The ICFE is dedicated to helping consumers of all ages to improve their spending practices, increase savings and use credit more wisely.

The ICFE is an award winning, nonprofit, consumer education organization that has helped millions of people through its financial continuing education courses programs and resources. In addition to eight Certification courses covering identity theft, credit files, credit repair and credit scoring, among others, it also publishes the Do-It-Yourself Credit File correction Guide, which is updated annually. The ICFE has distributed over one million Credit/Debit Card Warning Labels and Credit/Debit Card Sleeves world wide.

The ICFE is a partner with the national Jump$tart Coalition for Financial Literacy and the California Jump$tart chapter. The ICFE staff is also active with San Diego Saves and Military Saves, both offshoots of America Saves.

The ICFE is also an on-line help for consumers who spend too much. ICFE's spending help was featured in PARADE Magazine in the Intelligence Report section. The money helps and tips are from the ICFE's Money Instruction Book, our course in personal finance.

The ICFE helps consumers and students with mending spending, learning about the proper use of credit, budget and expense guidelines, how to set up and implement a spending-plan and also how to access financial education courses and how to teach children about money. Other ICFE services include: Ask Mr. G library, a free eNews service, and an online resource center for students, parents and educators, plus financial education learning tools in the ICFE Book Store.

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