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Insider threats in financial institutions arise from employees, contractors, or partners exploiting access to sensitive systems.
These risks, whether malicious or accidental, can lead to data breaches, regulatory fines, and reputational damage. Identity and Access Management (IAM) mitigates insider threats by enforcing role-based access, real-time monitoring, and least privilege principles.
IAM also automates provisioning and de-provisioning, ensuring access rights are always aligned with job roles, and tracks activity to flag suspicious behavior, providing an additional layer of security against insider risk.
Access reviews and reporting can help ensure access creep doesn't exist and also provide the data needed for audits.