Insider threats continue to represent a major concern for all size organizations.
I recently met with a company that was responding to a major RFP. The company uses a Content Management System and has developed strict procedures to ensure the confidentiality of their files. Unfortunately, one of the staff members that worked on the RFP had an acquaintance who worked for the competition. The employee saved the file to a thumb drive and emailed it to his friend at the competition. That person used the information to under bid the other company and ultimately won the business. Eventually, the theft was uncovered, the individuals involved were fired and the RFP was cancelled. There is no way to determine the cost of litigation, but it is safe to assume that legal costs and fines will exceed a $1 million.
This type of document breach occurs on a daily basis and costs businesses hundreds of millions of dollars per year. Document loss can be prevented by using Enterprise Digital Rights Management that applies persistent security to confidential files. In the case of this company, if the RFP document had EDRM protection it would not have been accessible to anyone that was not authorized to see it.
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