Microsoft Teams has rapidly become a key collaboration tool for many organizations. However, it can potentially leave you exposed to data breaches from accidental sharing of the wrong files or sharing sensitive info with the wrong Team – or worse data theft for personal gain.
According to the new “2020 Cost of Insider Threats: Global” report from The Ponemon Institute" the number of insider-caused cybersecurity incidents have increased by a whopping 47% since 2018, with the majority (62%) of these incidents caused by negligent insiders. As a result, some are stalling Microsoft Teams deployments while they wrestle with how to address this issue, caught between satisfying user demands for the collaboration benefits that Teams offers and how to manage the sharing and protection of sensitive information.
Customers in regulated industries are particularly trapped in this quandary of how to balance user needs with their legal responsibilities for appropriately handling sensitive information including customer details, financials, HR information, patient data, insider trading information, intellectual property and more. And for good reason, the average annual cost of an insider breach is $11.45 million but is significantly higher for financial services ($14.50 million), Energy & Utilities ($11.54 million) and Retail ($10.24 million). ...read full article
