Troubling news: Employee theft of company data is on the rise. In 2022, the most recent year data is available, 23% of internal thefts were attributed to criminal insiders, resulting in an average cost of $756,760 per incident for businesses.
As much as you’d like to think a staff member won’t hijack your data, be aware that under the right circumstances, even the most trusted employee may be tempted to steal from you.
So, what are the warning signs that you’re at risk? We give you five signals that indicate your data might already be walking out the door.
1. Change in Work Habits
If an employee is suddenly working unusual hours or is often the last one to leave the office, it could be a warning sign that they are stealing data from your company. They may need more time alone with company equipment or access to the network after business hours, making it easier for them to steal information unnoticed.
2. Excessive Interest in Certain Files
Employees who are stealing data are often very targeted in what they are taking. They may be interested in specific information, such as customer contact lists, financial data, or intellectual property. Keep an eye out for employees who are accessing files or systems that do not pertain to their job responsibilities.
3. Suspicious Internet Activity
If an employee is regularly accessing websites that are not related to their job, it could be an indication that they are stealing data. These sites may be used to upload confidential information or even communicate with competitors.
4. Sudden Financial Troubles
In some cases, employees steal data for monetary gain. If an employee begins to experience sudden financial troubles or has an unexplained increase in wealth, this could be an indication that they are selling your company’s data to competitors. It is important to regularly monitor your company’s financial records to detect any suspicious activity.
5. Unexplained Data Loss or Breaches
Keep a watchful eye on any unusual activity on your network, including unexpected data loss or breaches. If you notice data has gone missing or if security has been breached, it is wise to investigate it thoroughly.
How to Minimize Your Risk
Being vigilant about looking for the above warning signs is the first step to minimizing your risk. The second step is to deploy computer and network port locks, which can significantly deter employees from stealing company data.
These small, extremely affordable devices physically block unused ports on your computers and network hardware, preventing unauthorized data transfer via removable storage devices such as USB drives or external hard drives. Additionally, they stop unsanctioned connections to the company network, making it harder for individuals to siphon off sensitive data.
Implementing port locks can help you maintain control over who can access, download, or transfer your company’s valuable information, ultimately reducing the risk of internal data theft.
Prioritize Data Security
In an age where data is the new gold, safeguarding your company’s valuable information is crucial. While it is disheartening to consider your employees as potential threats, staying vigilant and implementing preventative measures such as port locks can save your organization from significant losses. Remember, the cost of prevention is always less than the cost of loss or damage. Confront the reality, recognize the signs, and take proactive measures. Protect your business by securing your data – the lifeblood of your company.
