Protect Organizational Data from the Inside Out
Data breaches cost technology companies $5.04 million per attack on average, which is significantly higher than the $3.86 million average for companies across all sectors. Further, compromised credentials were the most expensive root cause of these malicious data breaches.i Data theft and misuse are not only expensive but prevalent, and something must be done to stop it.
However, technology organizations, perhaps more so than any other industry, rely on productivity tools like Salesforce and Microsoft 365 to manage critical data assets. And those assets have become increasingly vulnerable. Varying and more stringent global regulatory requirements, such as the General Data Protection Regulation (GDPR) or the California Consumer Privacy Act (CCPA), accelerated connectivity, and hard-to-detect security weaknesses increase the need for protection.
is the average cost of a data breach for technology companies
of data breaches involve internal actors
increase in average cost per year of insider threats since 2018
Beware of Insider Threats
While many data breaches are caused by external bad actors, insiders are also to blame. And this means not just employees, but contractors and other business partners who have authorized access to a company’s applications. In fact, 57% of database breaches in 2019 involved insider threats within an organization.ii
Data loss can be both deliberate – disgruntled or departing employees carrying out the exfiltration of critical information – or unintentional, through use of unauthorized and vulnerable mission-critical applications, like customer relationship management (CRM) and office productivity tools.
of database breaches in 2019 involved insider threats within an organization.
Mitigate Data Exploitation
You can’t simply shut off data access to avoid data exfiltration since employees need access to do their jobs. And as companies increasingly grant employees access to sensitive data via remote work and cloud-based office productivity and file-sharing platforms like Salesforce, Microsoft 365, Dropbox, and Google Drive, the need to protect data has never been greater. Especially since most of your proprietary, confidential, and regulated information is accessible in your CRM.
And when everything from intellectual property and financial data to sales forecasts and customer information reside in an application, such as a CRM, a data breach could be devastating. The result for any company is bad publicity, legal issues, and the most damaging of all – lost customer trust.
When theft is perpetrated by an insider, the consequences are just as real, and the incident is often harder to detect. When an employee takes a copy of your customer and prospect records and joins your competition, the impact is significant, it could even shutter your business. You simply must take measures to protect your organization from such security breaches and incidents.
TODAY’S MOST PREVALENT NEEDS
Enhancing data security
Say you’re a cloud technology provider that relies on a CRM to store and share customer and prospect data, and you just found out it was breached. You know you should look to your CRM’s logs to track down how and when the breach occurred. If you have a log aggregator or data lake like a SIEM, you may assume the tool will provide easy answers. However, even with a SIEM, it takes a data scientist weeks to parse through your CRM’s audit logs and translate the cryptic data. They eventually discover that a hacker used an employee’s credentials to steal data, but the compromised credentials took so long to uncover that the hacker stole more data and has now issued a ransomware demand.
FairWarning works with SIEMs and other data lake tools to compile log events, meaning you don’t have to manually parse log files or have a full-time team of data scientists at hand to understand what the logs mean. With FairWarning, you get a turnkey solution for interpreting all of your application log files with easy-to-understand visualizations and proactive alerts that any business-minded user can benefit from.
By monitoring for unusual user activity in applications that store sensitive data, FairWarning helps you:
- Minimize data exfiltration
- Track data access control
- Detect compromised credentials
- Monitor terminated or inactive users
- Transform data protection efforts from reactive to proactive
- Secure sensitive data
Simplifying regulatory compliance
Perhaps you sell your entry level software via your website, and customers must share their credit card information to complete a purchase. Your organization must comply with the Payment Card Industry Data Security Standard (PCI DSS) guidelines, which requires that you manage, store, and review logs for risk management purposes.
With a full lifecycle incident detection, tracking, management, and reporting solution, FairWarning helps you:
- Protect regulated data to avoid data breaches
- Detect threats
- Meet compliance regulations
- Prevent negative consequences like fines and loss of trust
It helps you do all this while meeting the requirements for multiple regulations in a simple, straightforward way that removes the headaches typically associated with compliance.
Detecting insider threats
Imagine your company stores valuable Sales prospect data in a CRM. Your top competitor just announced they’ve signed a deal with a prospective customer your team was about to close. With that opportunity list, you don’t have enough pipeline to meet your goal for the year. In retrospect, you realize that the sales employee who recently left your company for the competitor was probably downloading sensitive prospect data and saving it to a hard drive to take to his new job.
Monitoring application performance, usage and adoption
Imagine you’re an internet services provider (ISP) that stores network, customer, B2B, infrastructure and partner information in a CRM. Since job completion rates have been declining, you wonder whether field employees are using the CRM effectively. You find out that rather than signing in and logging cases using the smartphone application portal they’re supposed to use, most have been recording notes manually and filing their reports later.
FairWarning helps you proactively detect application performance degradation and boost cloud application usage and adoption to:
- Demonstrate ROI
- Increase efficiency
- Support higher win rates
By monitoring application performance, usage and adoption, you can pinpoint which users are taking advantage of your tools and following company procedures.
Reduce Your Risk of Data Breaches
Unless the necessary security and governance is in place to thwart insider attacks, significant security risks can arise due to potential overexposure of data. With so much at stake, it can be challenging to protect data that employees, contractors and partners can access.
To mitigate risk of a data breach, organizations can:
Evaluate operational practices and refresh employee awareness training programs to help address accidental data loss.
Review security technologies to understand what controls are in place to protect from data exfiltration.
Seek increased security through a platform that provides greater insider intelligence.
FairWarning helps organizations protect CRM and office productivity data through comprehensive user activity monitoring. By monitoring activity at the application layer, we give you a user-centric view to see who accessed what information in your mission-critical applications, allowing you to take appropriate action to close gaps and reduce risk.