People think insider risks only apply to businesses but it is not. Since a few days everyone can hear the word "Insider Risk" in the news and even in politics. In this blog, we will learn more about insider risks and the importance of tackling it, with useful built-in tools available in Microsoft 365 .
What is Insider Risk?
Employees now have more access to create, manage, and share data across a broad spectrum of platforms and services. In most cases, organizations have limited resources and tools to identify and mitigate organization-wide risks while also meeting compliance requirements and employee privacy standards. These risks include potential data theft by departing employees and risk of data leaks of information outside your organization by accidental oversharing or malicious intent.
Why is Risk Management important?
$15.4 million Total average annual cost of activities to resolve insider threats. *
85 days’ Time Average; the time it takes to contain an insider incident. *
Identifying and managing security and data risks inside your organization can be challenging. In the world of hybrid work, organizations seek out communication and collaboration tools to empower employees to do their best work. At the same time, they need to manage risk in communications to protect company assets, fulfill regulatory compliance obligations, and detect code of conduct violations, like harassing or threatening language, sharing of adult content, and inappropriate sharing of sensitive information. A recent report indicated that more than 60% of insider threat incidents were the result of employee carelessness.
How to avoid Insider risks?
Insider risk management in Microsoft 365 helps minimize internal risks by empowering security teams to detect and act on malicious and inadvertent activities in your organization.Communication compliance in Microsoft 365 helps organizations foster safe and compliant communications across corporate communications.
Using risk management products that are available in Microsoft compliance can avoid insider risks and alert IT teams.
Risk Management Products
Microsoft Purview Insider Risk Management - Detect, identify, and act on potential risks in your organization with insider risk management.
Microsoft Purview Communication Compliance - Quickly identify and remediate code of conduct policy violations that occur across company communications. Support a healthy work environment and meet industry-specific compliance requirements.
Microsoft Purview eDiscovery - Use machine learning capabilities—such as near-duplicate detection, email threading, relevance, themes, and smart tags—to help customers reduce and cull large volumes of data.
Many organisations fail to effectively identify Insider Risks due to lack of knowledge and skills. It is important to tackle Insider risks. Infotechtion experts can help you with all Microsoft Purview Compliance solution including Insider risks compliance. Feel free to contact us or a request demo of purview solutions.
*2022 Cost of Insider Threats: Global Report, The Ponemon Institute