Risks Are NOT Only External to Your Organization | The Costs of Insider Risks Are Increasing

The Rising Cost of Insider Risks and the Need for Proactive Management

The 2023 Cost of Insider Risks Global Report, recently released by DTEX Systems and conducted by the Ponemon Institute, has unveiled alarming statistics about the escalating costs and challenges associated with managing insider risks. The report reveals that the average annual cost of an insider risk has surged to $16.2M, marking a 40% increase over the past four years. Furthermore, the time required to contain an insider incident has lengthened to an average of 86 days. Despite these rising threats, a staggering 88% of organizations allocate less than 10% of their total IT security budget to insider risk management. This disparity in allocation is concerning, especially when considering that more than half of external attacks are attributed to social engineering tactics, which exploit internal vulnerabilities.

For businesses grappling with these challenges, Kizata Consulting offers a solution. As experts in IT and cybersecurity advisory, Kizata understands the intricacies of insider risks and the importance of proactive management. Leveraging their expertise in generative AI, Kizata can help organizations detect and contain undesirable behaviors within their trusted accounts, aligning with Gartner’s definition of insider risk management. By partnering with Kizata Consulting, businesses can not only safeguard their sensitive data but also optimize their IT security budgets, ensuring that investments are channeled effectively towards both internal and external threat management. In an era where insider risks are on the rise, Kizata’s services are more crucial than ever, providing businesses with the tools and strategies they need to navigate this evolving landscape.