ObserveIT, a leading insider threat management provider recognized in the 2018 ‘ASTORS’ Homeland Security Awards Program, is pleased to announce the company’s ObserveIT introduced its newest solution, ObserveIT 7.7 has been nominated to compete in the 2019 ‘ASTORS’ Program.
It was not long ago the NSA discovered that one of their cybersecurity specialists, Harold Martin III, had been stealing top-secret data, to the tune of 50 terabytes over the course of two decades using removable media devices, managing to steal even more data than Edward Snowden leaked in 2013.
As this insider threat story illustrates, even in the age of cheap and ubiquitous cloud storage, old-school removable media like USB devices are still popular for both legitimate business uses and illegitimate data exfiltration purposes.
(Learn More. Courtesy of Fox News and YouTube. Posted on Oct 6, 2016.)
Insiders like Harold Martin often rely on removable media like flash drives and keyboard shortcuts like copy/paste and print screen to exfiltrate data from sensitive locations—whether their motives are benign or criminal.
These activities usually happen on the endpoint and don’t touch the network, which means they are difficult to monitor and thwart.
Recent security events like this have spotlighted an urgent need to define a new approach to insider threat management in a post-DLP world by addressing gaps in visibility and context.
Whether intentional or not, employees of any organization and its extended network of contractors pose a security threat to the organization’s critical systems and data.
Today, 60 percent of all attacks are carried out by insiders which, on average, costs $8.76 million per incident.
(ObserveIT, the leader in Insider Threat Management, delivers comprehensive visibility into user and data activity providing security organizations with a powerful tool for protecting employees and valuable assets while saving time and resources. With more than 1,900 global customers across all major verticals, ObserveIT empowers security teams to proactively detect insider threats, streamline the investigation process and enable rapid response. Courtesy of ObserveIT and YouTube. Posted on Apr 24, 2019.)
ObserveIT helps its customers reduce the risk of threat resulting from the malicious or accidental actions of employees, contractors, and vendors by protecting organizations from insider threats across their networks through its cutting-edge insider threat management solution.
ObserveIT’s insider threat management solution arms security teams with the ability to detect insider threats, streamline the incident investigation process, maintain regulatory compliance, and prevent data loss, in one easy-to-use interface.
Designed to mitigate insider security risks, ObserveIT’s product provides real-time detection, deterrence, education, discretionary prevention and 360-degree views of user behavior.
It’s strategically built to help companies uncover risky user activity by identifying anomalous behavior in real time, investigating potential incidents, and optimizing security processes through notifications and blocking.
In addition, the rich metadata collected throughout the process and optional video playback capabilities provide irrefutable evidence and reduces investigation time from weeks to days or hours.
With ObserveIT, organizations are able to not only protect data and reduce risk but also ensure they meet compliance requirements by offering unmatched detection and visibility into user activity.ObserveIT offers rich, easy-to-understand metadata and optional full playback of security incidents helping organizations achieve compliance with regulations such as GDPR, PCI, SOX, HIPPA, NISPOM and others.
The solution also offers unique privacy protection for employees and other users via features such as profile anonymization and selective monitoring.
Many organizations manage confidential or proprietary data in systems accessed via an internal network, web or cloud interface, presenting massive security challenges to protecting sensitive data.
With ObserveIT’s solution, companies can significantly reduce the risk of security incidents by identifying common insider threat indicators, such as data exfiltration, privilege escalation, and careless behavior on an endpoint, and providing detailed information on exactly what happened so security teams can take efficient, effective action.
Further, by mitigating the risk of internal security breaches, ObserveIT helps companies maintain their corporate budgets, as on average each incident costs companies $8.76 million.
Observit released a 2018 study, commissioned with Ponemon Institute, that uncovered the direct and indirect costs associated with insider threats.
The study of more than 700 IT and security practitioners around the world found that the risk posed by insider threats is growing year-over-year, costing organizations significant money and resources as these threats continue to be difficult to detect, identify and manage.
The average cost of an insider-related incident over a 12-month period is $8.76 million, and it takes more than two months, on average, to contain an insider incident.
“This research reveals that ignoring the growing threat posed by insiders can be costly for businesses of all sizes and in all industries,” said Dr. Larry Ponemon, Chairman and Founder of Ponemon Institute.
“The increasing cost of insider threats – whether caused by negligent or malicious actors – is extremely detrimental for organizations, potentially costing them millions of dollars annually.”
Key findings from the survey included:
Types of Insider Threats:
- All types of insider threats are increasing.
- Since 2016, the average number of incidents involving employee or contractor negligence has increased by 26 percent, and by 53 percent for criminal and malicious insiders.
- The average number of credential theft incidents has more than doubled over the past two years, increasing by 170 percent.
- The majority of respondents (64 percent) cited that the negligent insider is the root of most incidents, followed by criminal and malicious insiders (23 percent) and employee and contractor negligence (13 percent).
Costly Credential Risk:
- Credential risk (or imposter risk) is the costliest type of insider incident at an average of $648,846 per event.
- This type of incident is 2.5 times more costly than incidents involving employee or contractor negligence at $283,281 per incident.
- Criminal and malicious insider incidents cost an average of $607,745 per incident.
Organizational Risk by Size and Industry:
- The cost of incidents varies per organizational size and industry. Large organizations with a headcount of more than 75,000 spent an average of $20 million over the past year to resolve insider-related incidents while smaller organizations with a headcount below 500 spent an average of $1.8 million. Companies in financial services, energy and utilities and retail incurred average costs of $12.05 million, $10.23 million and $8.86 million, respectively.
Risk by Region:
- Organizations in North America experienced the highest total cost to contain insider-related incidents at $11.01 million.
- Asia-Pacific and European and Middle Eastern (EMEA) companies annualized costs to contain insider-related incidents were $5.88 and $7.04 million, respectively.
Time to Contain Threats:
- Insights from the research reinforce that insider threats continue to be difficult to detect, identify and management as it takes an average of more than two months to contain an insider incident.
- The results also found that only 16 percent of incidents were contained in fewer than 30 days.
“Insider threats continue to threaten organizations across the globe, ultimately resulting in loss of mission critical data, downtime and lost productivity, and even reputational damage,” explained ObserveIT CEO Mike McKee.
“Understanding the growing costs and time associated with preventing and managing insider threats, organizations need to invest in a holistic cybersecurity solution to assist with real-time detection, deterrence, education and prevention.”
To read the full study, 2018 Cost of Insider Threats: Global Organizations, visit here.
(Learn More from Mike McKee, CEO of ObserveIT. Courtesy of ObserveIT and YouTube. Posted on Nov 2, 2018.)
ObserveIT also helps reduce the financial costs associated with remediating a security breach, and helps to protect an organization’s reputation from damage to the brand.
By actively monitoring user behavior and eliminating insider threat, ObserveIT allows enterprises to prevent data exfiltration, unauthorized activity and reallocation of additional time and budget to investigate and resolve security issues.
Trusted by more than 1,700 customers in 87 countries and across a wide range of industries, ObserveIT is the only solution on the market to unify user activity, data activity, and analytics into a single, lightweight interface.
Additionally, businesses are increasingly choosing ObserveIT over solutions such as Data Loss Prevention (DLP), User and Entity Behavior Analytics (UEBA), or User Activity Monitoring (UAM), as they seek to mitigate the risk of insider threats.
Both current and potential customers value the product’s unique and revolutionary capabilities, including its risk scoring dashboard, optional screen recording technology, file diary, file activity monitoring, enhanced alert workflow, clipboard monitoring, advanced reporting capabilities, anonymization, and more.
Paired with ObserveIT’s ease of implementation and ability to anonymize all data for privacy-minded organizations, its advanced features make ObserveIT the clear leader within the competitive landscape, as the company regularly wins in competitive sales situations.
As a 2019 ‘ASTORS’ Homeland Security Awards Program Competitor, ObserveIT will be competing against the industry’s leading providers of Innovative, Investigative/Surveillance/Detection Solutions.
Good luck to ObserveIT on becoming a Winner of the 2019 American Security Today’s Homeland Security Awards Program!
Nominations are now being accepted for the 2018 ‘ASTORS’ Homeland Security Awards at https://americansecuritytoday.com/ast-awards/.
|Access Control/ Identification||Personal/Protective Equipment||Law Enforcement Counter Terrorism|
|Perimeter Barrier/ Deterrent System||Interagency Interdiction Operation||Cloud Computing/Storage Solution|
|Facial/IRIS Recognition||Body Worn Video Product||Cyber Security|
|Video Surveillance/VMS||Mobile Technology||Anti-Malware|
|Audio Analytics||Disaster Preparedness||ID Management|
|Thermal/Infrared Camera||Mass Notification System||Fire & Safety|
|Metal/Weapon Detection||Rescue Operations||Critical Infrastructure|
|License Plate Recognition||Detection Products||And Many Others!|
Don’t see a Direct Hit for your Product, Agency or Organization?
Submit your category recommendation for consideration to Michael Madsen, AST Publisher at: email@example.com.
ObserveIT Takes Platinum in the 2018 ‘ASTORS’ Homeland Security Awards Program
Best IT Threat Intelligence Solution
ObserveIT Insider Threat Software
The Annual ‘ASTORS’ Awards Program is specifically designed to honor distinguished government and vendor solutions that deliver enhanced value, benefit and intelligence to end users in a variety of government, homeland security and public safety vertical markets.
Over 130 distinguished guests representing National, State and Local Governments, and Industry Leading Corporate Firms, gathered from across North America, Europe and the Middle East to be honored among their peers in their respective fields which included:
- The Department of Homeland Security
- The Federal Protective Service (FPS)
- Argonne National Laboratory
- The Department of Homeland Security
- The Department of Justice
- The Security Exchange Commission Office of Personnel Management
- U.S. Customs and Border Protection
- Viasat, Hanwha Techwin, Lenel, Konica Minolta Business Solutions, Verint, Canon U.S.A., BriefCam, Pivot3, Milestone Systems, Allied Universal, Ameristar Perimeter Security and More!
The Annual ‘ASTORS’ Awards is the preeminent U.S. Homeland Security Awards Program highlighting the most cutting-edge and forward-thinking security solutions coming onto the market today, to ensure our readers have the information they need to stay ahead of the competition, and keep our Nation safe – one facility, street, and city at a time.
The 2018 ‘ASTORS’ Homeland Security Awards Program was Proudly Sponsored by ATI Systems, Attivo Networks, Automatic Systems, Desktop Alert, and Royal Holdings Technologies.
2018 Champions Edition
See the 2018 ‘ASTORS’ Champions Edition – ‘Best Products of 2018 ‘ Year in Review’ for in-depth coverage of the outstanding products and services of firms receiving American Security Today’s 2018‘ASTORS’ Homeland Security Awards.’