An insider threat is a type of risk that can be mitigated by implementing split encryption keys for sensitive files. An insider threat is a malicious actor who has authorized access to an organization’s system or data and uses it for unauthorized or harmful purposes. An insider threat can cause data breaches, sabotage, fraud, theft, espionage, or other damages to the organization. Split encryption keys are a method of encrypting data using multiple keys that are stored separately and require collaboration to decrypt. Split encryption keys can prevent an insider threat from accessing or compromising sensitive data without being detected by another authorized party who holds another key. Hardware failure is a type of risk that involves physical damage or malfunction of hardware components such as hard drives, memory modules, power supplies, or fans. Hardware failure can cause data loss, system downtime, performance issues, or other problems for the organization. Hardware failure cannot be mitigated by split encryption keys, but by backup, redundancy, monitoring, and maintenance measures.