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Behind The Headlines: The Unfortunate Domino Effect Of The Verizon Data Breach On 63,000 Employees

Behind The Headlines: The Unfortunate Domino Effect Of The Verizon Data Breach On 63,000 Employees

Verizon recently faced a significant data breach where an employee, through a combination of “insider wrongdoing” and “inadvertent disclosure,” accessed files containing the personal information of over 63,000 employees without proper authorisation.

Despite no evidence of misuse or external sharing, the incident highlights the vulnerability of companies to insider threats and accidental breaches.

You can find out more into this article.

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Inside The ‘Dangerous’ Spending Scandal Rocking Monaco’s Palace: Millions On Exes, ‘Secret Mission’, All Reveled By The Former Accountant

Inside The ‘Dangerous’ Spending Scandal Rocking Monaco’s Palace: Millions On Exes, ‘Secret Mission’, All Reveled By The Former Accountant

A scandal that’s been simmering since 2021, involving the most powerful people in the postage stamp-sized principality of Monaco, including Prince Albert, his one-time trusted “Gang of 4,” a shrewd real estate developer and now Princess Charlene — has taken a turn for the worse.

The Grimaldi family of Monaco is the subject of a series of explosive financial allegations recently revealed by an ex-employee who has made his private notes available to a French publication.

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Employee Engagement Challenges Continue To Exist In 2023: A New Study Unveils The Difficulty Of Clarity In The Evolving Hybrid Workplace

Employee Engagement Challenges Continue To Exist In 2023: A New Study Unveils The Difficulty Of Clarity In The Evolving Hybrid Workplace

In 2023, U.S. employees reported a continued sense of detachment from their employers, reflecting unclear expectations, diminished satisfaction, and reduced connection to the organisation’s mission compared to four years prior.

Gallup’s survey revealed a stagnation in employee engagement in the latter half of 2023, with 33% of workers engaged throughout the year, a slight decline from 2020’s peak of 36%.

Notably, the proportion of actively disengaged workers decreased from 18% in 2022 to 16% in 2023.

However, the decline in clarity of expectations emerged as a significant concern, possibly linked to the great resignation, restructuring, increased job responsibilities, and a lack of formal training for leaders in managing hybrid teams.

For more details about the findings, read Gallup latest article – “In New Workplace, U.S. Employee Engagement Stagnates”.

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Unprecedented Shift: Council On Foreign Relations Survey Highlights Domestic Terrorism As Top Concern For U.S. Foreign Policy Experts In 2024

Unprecedented Shift: Council On Foreign Relations Survey Highlights Domestic Terrorism As Top Concern For U.S. Foreign Policy Experts In 2024

Overview:

Every year, the Council on Foreign Relations does a survey called the Preventive Priorities Survey. This survey shows a shift in the priorities of foreign policy experts.

For the first time in sixteen years, the poll says that the biggest worry in the United States is domestic terrorism and political violence (insider threats), especially in the months leading up to the 2024 presidential election.

According to the poll, there are three very likely and important outcomes:

1. Election-related violence in the US;
2. The conflict between Israel and Hamas getting worse and leading to a bigger war in the region; and
3. A lot of people are coming to the southwest border of the US because of what’s happening in Central America and Mexico.

Another important problem is the chance of a military conflict with either Russia or China.

The head of the Centre for Preventive Action talks about how the threat of foreign terrorism is going down while the threat of armed conflicts, especially those between Russia and China, is going up.

Tier I threats include tense relations between Russia, China, Taiwan, and North Korea; division in American politics; conflicts in the Middle East; problems with migration; and eight other situations.

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Insider Threats Can Penetrate Any Organisation, State Or Government

Insider Threats Can Penetrate Any Organisation, State Or Government

The recent embezzlement scandal within the Vatican involves prominent individuals, spans multiple countries, and astonishingly involves covertly recording the Pope himself.

Inside the high walls of the Holy See, Cardinal Giovanni Angelo Becciu, former head of the office of “miracles” that minted saints, was considered papabile, a possible next pope.

Then his career collided with church prosecutors, who charged the 75-year-old Italian and nine other officials with corruption, setting up the Vatican’s trial of the century.

Last Saturday, Becciu, the first cardinal tried by the Vatican’s little-known criminal court, was found guilty of several counts of embezzlement after a trial marred by allegations of witness tampering and papal interference. Becciu was sentenced to five years and six months in a verdict read out in a converted quarter of the museum that houses the Sistine Chapel.”

You can find out more by visiting the following link.

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Australian Prudential Regulation Authority (APRA) Finds Gaps In How Banks Manage Data

Australian Prudential Regulation Authority (APRA) Finds Gaps In How Banks Manage Data

APRA conducted a multi-year study on banks’ data management practices, identifying gaps and offering six recommendations for improvement.

The study, initiated in 2019, examined data risk management among banks by evaluating 100 Critical Risk Data Elements (CRDE) and conducting subsequent reviews.

The results showed that although there have been some recent improvements in data practices, progress in enhancing these practices has been slow.

APRA’s suggestions include establishing data governance, clarifying roles for data ownership, simplifying technology infrastructure, identifying critical data elements, monitoring data quality, and integrating data risk into management frameworks. The regulator highlighted the importance of data in decision-making and urged directors and executives to prioritise data protection.

APRA intends to continue focusing on data risk management through its guidelines and emphasises the need for entities to prioritise identifying critical data elements, remediating data issues, enhancing technology platforms, and making data more accessible and accurate.

The regulator stressed the importance of streamlining processes, automating controls, and improving data quality to meet the increasing demand for data from customers, clients, and regulators.

Similar assessments were also extended to life insurers and superannuation companies to better understand their risk practices, following concerns about incorrect regulatory submissions.

You can find more by visiting the following link.

APRA is the Australian Prudential Regulation Authority, established 25 years ago as an independent statutory authority that supervises institutions across banking, insurance, and superannuation sectors and is accountable to the Australian Parliament. You can find our more about APRA.

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International Fraud Awareness Week

International Fraud Awareness Week

Organisations worldwide lose an estimated 5% of their annual revenues to fraud, according to Occupational Fraud 2022: A Report to the Nations. Fraud takes many forms, including corporate fraud, consumer fraud, tax fraud, identity theft and many others.

The seriousness of the global fraud problem is why the Australian Institute of Insider Threats announced that it will be participating in International Fraud Awareness Week, Nov. 12-18, 2023, as an official supporter to promote anti-fraud awareness and education. The movement, known commonly as Fraud Week, champions the need to proactively fight fraud and help safeguard businesses and investments from the growing fraud problem.

Fraud is an issue that unfortunately affects people from all walks of life around the world, and it takes many forms. Whether it’s a trusted employee stealing from a small business or organised rings of fraudsters targeting seniors in our community, most people know someone who’s been victimised by fraud. That’s why it’s so important for organisations to join this fight to raise awareness during this week. It is a serious problem that requires a proactive approach toward preventing it, and educating people is the first step.”

Every November, hundreds of organisations worldwide pledge to increase fraud awareness in their workplaces and communities. You can find more by visiting the International Fraud Awareness Week.

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Approximately 38% Of CSOs View Violence Against Employees In India As A Greater Internal Threat

Approximately 38% Of CSOs View Violence Against Employees In India As A Greater Internal Threat

The threat of insider fraud and violence against employees are anticipated to be greater security threats in India in the coming year than anywhere else in Asia Pacific.

According to the World Security Report published by G4S, hackers, protestors, and spies pose the most concern out of all threat actor groups for next year at 57%.

Link: https://ciso.economictimes.indiatimes.com/news/cybercrime-fraud/about-38-of-csos-view-violence-against-employees-in-india-as-a-greater-internal-threat/104315549

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2023 Cost of Insider Risk Global Report

2023 Cost of Insider Risk Global Report

The upward trends associated with incident costs, frequency, and time to contain demonstrate that current approaches to insider risk are simply not working. In fact, the numbers clearly show we are going backwards.

If you don’t understand the risk, you will never understand the threat.

At a glance:

  • $16.2M USD is the average cost of an insider risk
  • 86 Days is the average number of days to contain an insider incident
  • 8.2% security budget spent on insider risk management

Click the link to download the 2023 Cost of Insider Risk Global Report: https://www.dtexsystems.com/resource-ponemon-insider-risks-global-report/

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Insider Threat Awareness Month

Insider Threat Awareness Month

September 2023 is the fifth annual National Insider Threat Awareness Month, according to the National Counterintelligence and Security Centre.

What is Insider Threat Awareness?

Like cybersecurity awareness, insider threat awareness is the importance of being aware and vigilant when it comes to protecting sensitive organisation information from malicious insiders, account compromise attacks as well and accidental incidents.

What is an Insider?

An insider is anyone that has, or has had access to an organisation’s resources, facilities, information, network or systems.

What, Exactly, is an Insider Threat?

An Insider Threat is someone who has authorised access to an organisation’s assets that either intentionally or accidentally causes harm to those assets.

Whether it involves a disgruntled employee seeking retribution, a worker looking to profit over the sale of proprietary data, or simply someone accessing data for the sake of curiosity, insiders are as important a consideration as any external threat. An external attacker who compromises a user’s account is also considered an insider threat since that individual now has authorised access to that user’s accounts, data, and applications.

 

Resources:

1. 2023 Insider Threat: Vigilance Campaign – The 2023 Insider Threat Vigilance Campaign by the Centre for Development of Security Excellence (CDSE) provides regular messaging around insider threat awareness material that can help reinforce understanding – https://www.cdse.edu/Portals/124/Documents/jobaids/insider/INTVigilanceCampaign.pdf

2. National Insider Threat Awareness Month (NITAM) – https://securityawareness.usalearning.gov/cdse/nitam/index.html

3. Naked Insider has a vast library of articles, videos and books providing a wide array of education and awareness of the risk the trusted insiders can pose – www.nakedinsider.com