IT Security

Internal Threats Heighten Value of Archived Data

By Michael
May 6, 2015

As more businesses around the globe continue to adopt cloud computing services and expand data center operations, they are discovering the many advantages of the strategies and the drawbacks as well. Cybersecurity continues to be perhaps the greatest impediment to technological development in the business world. Data breaches come from all angles, which explains the necessity of a comprehensive security plan.

One of the most common kinds of data breaches is the internal threat. Employees, contractors and part-time workers can all be the source of a costly cyberattack that targets intellectual property, financial information and a host of other data types. The ramifications can be severe and long lasting.

The emergence of internal data threats only bolsters the need for effective cybersecurity measures. Data encryption has proven to be effective in many ways, but it can be compromised if they key ends up in the wrong hands. Biometric technology and decentralization through colocation and third-party vendors are also picking up, but they are far from bulletproof. IT managers should use archiving technology such as Archived Data Manager to keep track of data center activity. The software can help conduct audit trails and ensure regulatory compliance.

Morgan Stanley data breach from the inside
Morgan Stanley announced that a wealth management employee stole data from approximately 900 clients. Mayiz Habbal, the CEO of Capital Markets Leadership Group, said to InformationWeek that the problem existed at the bank’s foundation. He said that the criminal employee had too much unnecessary access to client data.

“I think there’s acknowledgement that there are crown jewels in financial services – client data, clearing, trading information,” Bob Olson, the head of global financial services for Unisys, told the news outlet. “You want to cloak those and make sure you have the ability to limit who has access to the crown jewels.”

Insider threats have multiple origins
Michael Dent, the chief information security officer of Fairfax County, Virginia, spoke with about the many roots of internal data breaches. The moral of the story – anyone could be the hacker behind the cyberattack.

“The insider threat comes in so many different ways that there is really no magic answer, I think, for anyone,” Dent told the publication. “People need to understand that insider threats aren’t just your employees. They also are your contractors, your vendors, your volunteers, potentially, that come in and work for you.”

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