Business Services

The threat from within: dealing with insider fraud and theft

Fraud - Firms report cybercrimes have an element of staff involvement - SantanderCB

PwC's 2015 Information Security Breaches Survey, which was commissioned by the UK government, showed that 81% of firms reporting cybercrimes said that there was an element of staff involvement in some breaches. Many incidents result from accidents such as accidental email sending, but others are the result of malicious intent to steal data and make a profit or harm the company. PwC also released its Global Economic Crime Survey 2016 last month, which highlighted a trend for fraudulent activity among older, senior staff members in trusted positions. Half of all instances of company fraud are committed by staff aged over 40, according to the study. The over-50s bracket accounted for 18% of instances, up from 6% just two years ago. Not all breaches are motivated by financial gain. One such case involved Andrew Skelton, an internal auditor for supermarket chain Morrisons. He received an eight-year prison term last July after being convicted of deliberately leaking the bank, salary and National Insurance details of 100,000 staff online in an act of vengeance. One of the best ways to decrease the risk of a breach is to limit users to the specific access they require for the job roles. Firms are also advised to ensure they have systems in place that will alert them whenever certain key files or folders are accessed. This should particularly help in monitoring those in senior positions, who may even be trusted with oversight in the first place.


Note: News bulletin content has been provided by a third-party and is not the opinion of Santander

Other Articles

When you’re an established business, recruiting top talent in all the areas you need can seem like a never-ending challenge.


If you’re a start-up or small business, how can you put together an attractive employee package to appeal to top talent – graduate and…


Mexico is predicted to become one of the world’s top 10 economies in the next 10 or 20 years.

Stop fraud

More than one million incidents of financial fraud occurred in the first six months of 2016, according to official figures released by…

Santander’s Head of SME International Mark Collings discusses why exporting to new global markets may provide businesses with new and…

Where Next?