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3/1/2013
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"The Risk Of Insider Fraud" Ponemon/Attachmate Survey

On average, it takes 87 days to first recognize that insider fraud has occurred, according to survey of more than 700 individuals at leading global organizations

SAN FRANCISCO – Feb. 28, 2013 – On average, organizations experience approximately one fraud event per week, according to information from the second annual Attachmate Corporation and Ponemon Institute survey, "The Risk of Insider Fraud," released at RSA Conference 2013. However, only 44% of respondents say their organization views insider fraud prevention as a top security priority, a perception which has declined since 2011. This misconception can prove costly: The average cost of a data breach in a 2011 study was $194 per lost or stolen record.

The insider fraud survey includes results from more than 700 individuals at leading global organizations. The survey reveals some alarming data security trends:

· On average, it takes 87 days to first recognize that insider fraud has occurred and more than three months (105 days) to get at the root cause of the fraud.

· Seventy-nine percent of respondents say that in their organization a privileged user has or is very likely to alter application controls to access or change sensitive information and then reset the controls.

· According to 73% of respondents, an employee's malfeasance has caused financial loss and possibly brand damage.

· Eighty-one percent say they already had an employee use someone else's credentials to gain elevated rights or to bypass separation-of-duty controls.

"This data demonstrates the invisibility of employee actions across an enterprise," said Larry Ponemon, chairman and founder of Ponemon Institute. "While organizations may have policies and procedures to thwart insider fraud, it doesn't mean employees will remain compliant, particularly with the rise of Bring Your Own Device (BYOD) practices."

Almost half (48 percent) of respondents say that BYOD has resulted in a significant increase in fraud risk and 77% of respondents say the lack of security protocols over edge devices presents a significant security challenge and risk.

"Data security and insider threats continue to be a challenge for organizations, particularly as BYOD brings complexity to enterprise risk management," said Christine Meyers, director of Attachmate's enterprise fraud management solutions. "Next-generation enterprise fraud management solutions, such as Attachmate® Luminet®, are able to correlate cross-channel activity, score risk and provide a screen-by-screen replay of what actually occurred. Add to that the proven deterrence factor that arises from being able to see and monitor use and abuse, and you can see why customers choose to deploy this technology for fraud detection."

The study defined insider fraud as the malicious or criminal attacks perpetrated upon business or governmental organizations by employees, temporary employees and contractors. Typically, the objective of such attacks is the theft of financial or information assets, which include customer data, trade secrets and intellectual properties. Sometimes, the most dangerous insiders are those who possess strong IT skills or have access to an organization's critical applications and data.

"With this research, we want to reiterate that organizations are not immune," said Meyers. "The threat of insider fraud is a growing risk that can result in tangible financial loss to businesses. And the longer an organization takes to address it, the more costly it can become."

To find out more, visit http://www.attachmate.com/assets/Ponemon_2012_Report.pdf for the full survey results. Attachmate also offers the results in an infographic format at http://www.attachmate.com/Press/ponemon2012-infographics.htm.

For information about Attachmate Luminet enterprise fraud management software and customer use scenarios, visit www.attachmate.com/Products/efm/luminet/luminet.htm.

# # #

About Attachmate Corporation

For 30 years, Attachmate (www.attachmate.com) has been delivering essential business information to the right users, in the right formats, via the right devices. Today, Attachmate software runs on 19 million desktops and mobile devices--across industries ranging from financial services, healthcare and government to retail, travel and manufacturing. Built to integrate existing systems and emerging technologies, our products help organizations worldwide put their IT assets to work in new and meaningful ways.

About Ponemon Institute

Ponemon Institute is dedicated to advancing responsible information and privacy management practices in business and government. To achieve this objective, the Institute conducts independent research, educates leaders from the private and public sectors and verifies the privacy and data protection practices of organizations in a variety of industries. For more information, visit www.ponemon.org.

 

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