Protecting Personally Identifiable Information (PII) is more critical than ever.
With cyber threats on the rise, organisations often focus on external attacks—but what about the dangers from within? Insider threats, whether intentional or accidental, pose a significant risk to sensitive data.
In this article, we'll explore what are the risks that insider threats pose to PII, the potential consequences for businesses and customers, and the best practices to protect sensitive data.
What is Personally Identifiable Information (PII)?
Personally Identifiable Information (PII) includes any data that can be used to identify an individual, such as Personal Public Service (PPS) numbers, dates of birth, biometric data, tax identification numbers, and location details.
If your organisation handles PII, securing it is not just about compliance—it’s essential for maintaining trust and preventing costly breaches.
By the end of 2020, a shocking 36 billion records had been exposed, with 60% of breaches caused by insider threats—security risks that originate from within an organisation.
Even more concerning, insider-related incidents have increased by 47% in just two years.
What Are Insider Threats?
An insider threat occurs when someone with authorised access misuses data—whether intentionally or unintentionally—to harm a company or its customers.
These threats can come from:
- Current or former employees
- Consultants
- Business partners
- Contractors
Unlike external cyberattacks, insider-led breaches are harder to detect because the individuals involved already have legitimate access.
They may also be familiar with security measures, making it easier to bypass defences and expose sensitive data.
What Are the Risks That Insider Threats Pose to PII?
Risk to your Business:
1. Reputational Harm
A Ponemon study found that 44% of companies take 10 months to over two years to rebuild their reputation after a breach.
This can be even more severe for healthcare and financial institutions, where data is highly sensitive.
Even with fast crisis management, a data breach can lead to customer distrust, negative media coverage, and financial losses.
2. Financial Losses
Data breach can cost thousand of Euros of financial loss due to insider threats. Organisations may face:
- Claims for customer compensation
- Regulatory fines for GDPR violations
- Investigation and legal costs
- A decline in business valuation
3. Ransomware and Data Extortion
Malicious insiders can steal PII and use it for extortion. Cybercriminals may:
- Encrypt critical data and demand ransom for its release
- Threaten to sell stolen customer data on the Dark Web
- Leak confidential records if demands aren't met
4. Operational Disruptions
A data breach can damage business operations. Investigating the breach, assessing the damage, and implementing recovery measures take time and resources.
Legal battles and compliance issues can also drain finances and delay normal operations.
Risk to your Customers:
1. Identity Theft
Cybercriminals use stolen PII—such as credit card numbers, PPS details, and biometric data—to commit fraud, open fraudulent accounts, and impersonate victims for financial gain.
2. Social Engineering Attacks
When PII like names, addresses, and contact details end up on the Dark Web, attackers use it to manipulate victims. Phishing emails, fake customer service calls, and fraudulent transactions often stem from such breaches.
3. Blackmail and Extortion
Leaked medical records, psychotherapy reports, or financial data can be used for blackmail. Cybercriminals may threaten victims with exposure unless they pay a ransom or comply with other demands.
How to Secure PII?
With insider threats evolving, organisations must take proactive measures to secure PII. Ignoring security risks jeopardises customers, employees, and the entire business.
Here's how you can stay protected:
1. Monitor Insider Behaviour
Use behavioural analytics to detect unusual access patterns or unauthorised data movements.
2. Enforce Access Controls
Limit data access to only those who need it, and regularly review permissions.
3. Audit and Minimise Data Collection
Assess what PII you store, where it’s kept, and who has access. Securely delete unnecessary data.
4. Implement a PII Usage Policy
Establish clear rules on how PII is classified, stored, accessed, and protected.
5. Ensure Regulatory Compliance
Align security practices with GDPR and other relevant regulations, such as the Data Protection Act 2018.
6. Upgrade Data Storage Security
Use SOC 2-certified data centres to enhance security and prevent unauthorised access.
7. Provide Cybersecurity Training
Educate employees on data protection, phishing scams, and insider threat awareness.
8. Use Security Software
Invest in:
- Data Loss Prevention (DLP) tools
- Dark Web monitoring solutions
- Third-party risk management software
- Secure documentation platforms
Taking these steps will significantly strengthen your cybersecurity posture against insider threats and PII breaches.
Need Help Protecting PII?
Not sure how to protect customer data from insider threats? Contact Radium today to learn how to secure Personally Identifiable Information (PII) and protect your business.
Conclusion
Learning what are the risks that insider threats pose to PII cannot be ignored.
From financial losses and reputational harm to identity theft and extortion, insider-led data breaches can have serious consequences for both businesses and customers. As these threats continue to rise, organisations—especially in healthcare and finance—must take proactive steps to protect sensitive data.
By implementing strict access controls, employee training, behavioural monitoring, and advanced cybersecurity tools, you can minimise the risks and strengthen your data security posture.
Protecting PII isn't just about compliance—it's about preserving trust, preventing costly breaches, and ensuring long-term business success.