Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Risk

1/31/2008
05:36 PM
George V. Hulme
George V. Hulme
Commentary
50%
50%

When Criminal Intent Lurks One Cube Away

The ongoing Société Général fraud story is a case study in insider threats. The costs, north of $7 billion for the French bank, are high and likely to go higher. For the rest of us, it leaves an uneasy question: Do we have a rogue in our organization? And if so, what do we do about it?

The ongoing Société Général fraud story is a case study in insider threats. The costs, north of $7 billion for the French bank, are high and likely to go higher. For the rest of us, it leaves an uneasy question: Do we have a rogue in our organization? And if so, what do we do about it?As was posted earlier this week, the fraud doesn't look like it required any "hacking" or significant technical skills to perpetrate. Rather, the accused allegedly used his inside knowledge on internal controls to bypass them and place roughly $73 billion in bogus trades that cost the bank more than $7 billion to unwind.

It's a stark reminder to security professionals what could be at stake if a knowledgeable insider ever turned bad in a fraudulent, criminal, even destructive way.

The Insider Threat Study: Illicit Cyber Activity in the Banking and Finance Sector, published by the U.S. Secret Service and the CERT Coordination Center, holds some interesting findings from its examination of 23 incidents conducted by 26 insiders. Including that, 70% of the time, insiders took advantage of failures in business rule checks and authorization mechanisms. Also, 78% of the time insiders were authorized and active computer users at the time, and a surprising 43% used their own username and passwords to commit their crime.

Those are scary statistics for anyone trying to protect their company's treasure, whether monetary or intellectual property. So how do you go about protecting against the insider threat? One place I'd start would be with background checks, upon hiring.

Unfortunately, the vast majority of people who commit these types of incidents don't have a record. This would screen some, but not enough. Another area would be strict identity management and access control enforcement, such as terminating orphaned accounts, limiting access rights, and regular and mandatory password changes among employees. Again, this would help, but not eliminate enough.

What about not only enforcing access control, but also monitoring employee's use of systems -- and letting all employees know -- their work actions are being logged. This would be the right thing to do, and would have to act as a deterrent, and even help with any forensic analysis that may be needed.

This would be a good start, but it's clearly not all inclusive.

What steps does your organization take to minimize the insider threat?

 

Recommended Reading:

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
COVID-19: Latest Security News & Commentary
Dark Reading Staff 7/13/2020
Omdia Research Launches Page on Dark Reading
Tim Wilson, Editor in Chief, Dark Reading 7/9/2020
Russian Cyber Gang 'Cosmic Lynx' Focuses on Email Fraud
Kelly Sheridan, Staff Editor, Dark Reading,  7/7/2020
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
Special Report: Computing's New Normal, a Dark Reading Perspective
This special report examines how IT security organizations have adapted to the "new normal" of computing and what the long-term effects will be. Read it and get a unique set of perspectives on issues ranging from new threats & vulnerabilities as a result of remote working to how enterprise security strategy will be affected long term.
Flash Poll
The Threat from the Internetand What Your Organization Can Do About It
The Threat from the Internetand What Your Organization Can Do About It
This report describes some of the latest attacks and threats emanating from the Internet, as well as advice and tips on how your organization can mitigate those threats before they affect your business. Download it today!
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-14298
PUBLISHED: 2020-07-13
The version of docker as released for Red Hat Enterprise Linux 7 Extras via RHBA-2020:0053 advisory included an incorrect version of runc missing the fix for CVE-2019-5736, which was previously fixed via RHSA-2019:0304. This issue could allow a malicious or compromised container to compromise the co...
CVE-2020-15050
PUBLISHED: 2020-07-13
An issue was discovered in the Video Extension in Suprema BioStar 2 before 2.8.2. Remote attackers can read arbitrary files from the server via Directory Traversal.
CVE-2020-10987
PUBLISHED: 2020-07-13
The goform/setUsbUnload endpoint of Tenda AC15 AC1900 version 15.03.05.19 allows remote attackers to execute arbitrary system commands via the deviceName POST parameter.
CVE-2020-10988
PUBLISHED: 2020-07-13
A hard-coded telnet credential in the tenda_login binary of Tenda AC15 AC1900 version 15.03.05.19 allows unauthenticated remote attackers to start a telnetd service on the device.
CVE-2020-10989
PUBLISHED: 2020-07-13
An XSS issue in the /goform/WifiBasicSet endpoint of Tenda AC15 AC1900 version 15.03.05.19 allows remote attackers to execute malicious payloads via the WifiName POST parameter.