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Insider Threat Study: Illicit Cyber Activity in the Banking and Finance Sector

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These incidents were all committed by insiders individuals who were, or previously had been, authorized to use the information systems they eventually employed to perpetrate harm. Efforts to estimate how often companies face attacks from within are difficult to make. Many believe that insider attacks are under-reported to law enforcement agencies or prosecutors. Companies may fear the negative publicity or increased liability that may arise as a result of the incidents. Or, they may believe that the harm suffered would not be sufficient to warrant criminal charges. Statistics vary regarding the prevalence of cases perpetrated by insiders compared to those perpetrated by individuals external to the targeted organizations.2 Nevertheless, insiders pose a substantial threat by virtue of their knowledge of and access to their employers systems andor databases, and their ability to bypass existing physical and electronic security measures through legitimate means. Previous efforts have been made to study insider incidents, including workshops to develop a foundation of knowledge on insider threats3 annual surveys of organizations on the number of insider incidents they have experienced in a given year4 and, in-depth case studies of information technology insiders.5 However, these studies have focused on convenience samples and more narrow areas of industry. Additionally, other efforts have not examined the incidents from both behavioral and technical perspectives simultaneously. These gaps in the literature have made it difficult for organizations to develop a more comprehensive understanding of the insider threat and address the issue from an approach that draws upon human resources, corporate security, and information security perspectives.

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  • Economics and Cost Analysis
  • Computer Systems Management and Standards

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