- A fifth of workers have actually sold company information for money
- Many also use the company’s money for fraudulent activity
- Training is not enough – protection must be in place
New research from Cifas aims to quantify insider threats by highlighting how normalized workplace fraud has become – including selling sensitive company data for money.
As many as one in five (18%) admit to selling company login credentials for money, which could be the riskiest behavior the company has observed and proof that cyber protection against third-party attacks alone is no longer sufficient.
But selling company information isn’t the only risk, as workers are also likely to engage in other risky activities that can cost companies money and their security.
Insider fraud is a growing risk for companies
Around a quarter believe it is acceptable to work for another competitor company in secret (24%) and believe expenses fraud is justified (24%), with 13% knowing someone who has used company funds for gambling or betting.
In fact, getting into the business in the first place can often be helped unethically, with around a fifth (19%) knowing someone who has used fake job references to get hired.
“These results are not isolated incidents,” explained CEO Mike Haley. “They reflect a broader shift in workplace behavior when faced with the possibility of committing fraud.”
Cifas highlighted the importance of employee well-being and corporate culture to mitigate fraud and create loyalty. “Equipping them with the right training not only strengthens organizational resilience, but it empowers people to recognize and challenge risky behavior before it escalates,” explained Director of Learning and Public Sector Rachael Tiffen.
While education can be part of the way to share risks with workers, companies must also take some responsibility by employing insider threat monitoring, stronger identity verification and more robust background checks.
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