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March 6th, 2013 
David Schulberg the 3rd On average, organizations experience approximately one fraud event per week, mainly from the inside, a new study estimates. However, only 44 percent of respondents say their organization views insider fraud prevention as a top security priority, a perception which has declined since 2011.
The data security study, conducted by Ponemon Institute and underwritten by Attachmate Corporation, includes input from 743 IT and business executives. Fifty-two security breaches a year can be very costly, given that the average cost of a data breach in a 2011 study was $194 per lost or stolen record.
Part of the reason security breaches are so costly is that it takes an average of 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, the study finds.
On average, organizations have had approximately 55 employee-related incidents of fraud in the past 12 months. This is about the same as in last year’s survey (53 incidents a year).
One of the biggest problems to occur, as indicated by 79 percent of respondents, is co-workers’ credentials being used to gain elevated rights or bypass separation-of-duty controls. Another 79 percent say they have had instances in which a privileged user altered application controls to access or change sensitive information—
and then reset the controls (sneaky). Worse yet, 74 percent say an employee’s malfeasance has caused “financial loss and possibly brand damage.”
In addition, no matter how much you love your DBA or appdev manager, it’s important to have a policy of “trust, but verify” — with checks and balances on all data access, back door or front-end. Many lessons have already been learned: 79 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.
BYOD is also a complicating factor. Almost half (48 percent) of respondents say that BYOD has resulted in a significant increase in fraud risk and 77 percent of respondents say the lack of security protocols over edge devices presents a significant security challenge and risk. More than one-third say that employees’ use of their own devices has resulted in malware and virus infections that infiltrated their corporate networks and
enterprise systems.
Source Article from http://www.zdnet.com/one-fraud-event-a-week-survey-finds-internal-data-breaches-all-too-pervasive-7000012161/
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