Kevin Vreeland, General Manager NAM, Veridas explains how the Know Your Employee (KYE) framework can help enterprises to enhance their security.

The evolving threat landscape

In this hyper-connected world, an organization’s security landscape is indeed complex and dangerous.

Cyber-attacks are evolving rapidly, with malicious actors using advanced methods to infiltrate networks, steal sensitive information and disrupt operations.

The financial burden of these attacks is staggering – the global cost of cyber-crime is expected to reach $10.5 trillion annually by 2025, according to Cybersecurity Ventures.

Physical security incidents like theft, vandalism and unauthorized access further complicate the security equation, contributing over $1 trillion in revenue loss for companies last year alone.

Remote work has only made things worse.

Employees often use personal devices, creating new vulnerabilities that traditional security measures can’t handle.

Outdated, siloed solutions that separate physical and digital protections are no longer enough.

To fight today’s sophisticated, multivariate attacks, organizations need a unified, integrated approach with a focus on identity management.

The rise of sophisticated cyber-attacks

The digital age has ushered in an era of unprecedented opportunity but has also introduced new risks.

With each passing day, cyber-criminals are getting smarter and finding ways to exploit the weak points in companies’ networks.

Attacks are now more common than ever and can include ransomware, phishing, data breaches and identity fraud, with only one soft target: human vulnerabilities.

Such forms of cyber-attacks against companies can lead to immense financial loss, irreparable reputation damage and, in worst cases, the cessation of activities altogether.

According to a report by Parachute, 82% of cybersecurity breaches involve the human element and 64% of technology professionals struggle to identify best practices for reducing phishing attacks.

Ransomware holds data hostage, forcing companies to choose between paying ransoms or losing critical information forever.

Phishing preys on human error, tricking employees into revealing sensitive details or clicking on malicious links.

Insider threats – whether from disgruntled employees or simple mistakes – are some of the biggest risks.

In fact, human error plays a role in 95% of all cybersecurity breaches.

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Why traditional security measures aren’t enough

There is a saying that people are your greatest asset.

They are also sometimes your biggest vulnerability.

The harsh truth is that most security breaches aren’t about broken systems – they’re about broken behaviors.

Employees, acting out of malice or ignorance, are the weak link in the security chain.

The rise of remote work has turbo-charged these vulnerabilities.

With employees logging in from kitchens and coffee shops – and anywhere but the office – companies are hard-pressed to enforce security protocols.

Personal devices, unsecured Wi-Fi and a general lack of oversight have created an expanding attack surface that traditional security measures simply can’t cover.

Add to that the complexity of bring-your-own-device (BYOD) environments where personal and professional worlds converge on single phones and tablets.

Companies lose control over endpoint security when employees access company resources from personal devices.

That is like opening the doors and inviting the hackers to exploit any weak link they can find.

You can’t secure what you don’t fully understand

Know Your Employee (KYE) transforms how your organization approaches security by prioritizing employees – their identities, behaviors and access.

KYE turns employees from a vulnerability into your first line of defense.

It’s not just about knowing who your employees are – it’s about understanding their behavior, managing access intelligently and continuously monitoring for suspicious activity.

Turning liabilities into assets

Gaining strength in security posture: KYE fortifies security using multi-factor authentication, biometrics and behavior analytics to verify and monitor employees immediately.

Forget easily guessed passwords – KYE uses things that can’t be stolen or shared, like voice, fingerprints and facial recognition, to keep unauthorized users out.

Proactive threat detection: KYE continuously monitors employee behavior, detecting unusual activities that might signal insider threats or compromised accounts.

For instance, if an employee suddenly begins accessing sensitive files at odd hours, KYE can catch it before it escalates into a crisis.

Compliance and auditing made easy: With ever-stricter data protection regulations in place, companies need clear, auditable records of who accessed what and when.

KYE’s strong access controls and tracking provide a clear audit trail that makes compliance less of a headache and more of a streamlined process.

Better employee experience: KYE eliminates the hassle of passwords and access barriers, replacing them with smooth, secure authentication methods.

Employees can access what they need quickly and safely, boosting productivity and reducing daily friction.

Reduced IT costs: The average cost of a single password reset is about $70 in IT support.

Multiplied across hundreds or thousands of employees, this adds up quickly.

KYE minimizes these costs by removing weak points in access management, allowing IT teams to focus on more significant security challenges.

Why KYE matters now more than ever

Blurring the lines between physical and digital security: The convergence of physical and digital worlds means boundaries, as we know them, no longer exist.

An access badge that lets someone into the building can be just as critical as a password that lets them into a network.

KYE adopts a holistic approach wherein security measures are united to protect both realms seamlessly.

Building a culture of security awareness: KYE is not technology but a mindset.

It helps organizations inculcate a culture whereby employees are not mere recipients but an active defense mechanism for the latter’s assets.

It empowers them to make smarter, safer choices through regular training, real-time feedback and open security protocols.

Adaptive security for an adaptive workforce: Today’s workforce is more mobile than ever, working from everywhere on any device.

KYE adapts to this reality by constantly verifying identities, managing access by role and behavior and adjusting security controls in real time.

It’s not about locking things down but creating a fluid, responsive security environment that moves with your business.

Transparency by trust: One of KYE’s most valuable benefits comes from its transparency in terms of employee access and interaction with company resources.

It is important to understand who accessed what, when and for what purposes, allowing organizations to strive for a better view of their security landscape.

Future-proofing against emerging threats: As AI-driven attacks, among others, continue to rise, static security measures fall short.

The emphasis of KYE on continuous monitoring and adaptive response gives organizations a fighting chance against evolving risks.

It is about protecting what you have today and preparing for what’s coming tomorrow.

KYE is not a choice – it’s a necessity

The data speaks for itself: cyber-crime costs are soaring and human error is at the heart of the problem.

KYE isn’t just another tool – it’s the evolution of security.

The future of security starts from within.

Don’t just defend your company from the outside – secure it from the inside out.

The companies that succeed will be those that place employees at the heart of their strategy, turning vulnerability into strength.

Evolve or get left behind.

Find out more

To discover more about the Know Your Employee approach and how this can strengthen your organization’s security posture, make sure to sign up for the exclusive SJA webinar, produced in partnership with Veridas. Click here to sign up.

This article was originally published in the October edition of Security Journal Americas. To read your FREE digital edition, click here.