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CCI
Wednesday, 29 July 2015 12:34

Business secrets are going cheap

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More than a fifth (21%) of employees would sell company patents and credit card details for £1000, with a small minority open to offers of as little as £100

More than a third (35%) of employees would sell information on company patents, financial records and customer credit card details if the price was right. New research by Clearswift amongst 4,000 employees in the UK, Germany, USA and Australia, found that for £5,000 – the price of a family Caribbean holiday or less than three months of the average UK monthly wage - 25% would sell such data and risk both their job and criminal convictions.

A small number (3%) of employees would sell private information for as little as £100, rising to 18% who would accept an offer of £1,000. The number of employees open to bribes increases to 35% as the offer reaches £50,000.

The survey also found that the opportunity to sell valuable information is exacerbated by the ready access most employees have to it. 61% of respondents said they had access to private customer data, 51%, to financial data such as company accounts or shareholder information, and 49% to sensitive product information such as planned launches and patents.

Attitudes to data security were mixed, with only 29% saying that company data was their personal responsibility, and 22% saying they didn’t feel it was their responsibility at all.

Heath Davies, Chief Executive at Clearswift, says: “Whilst people are generally taking security more seriously – 65% of employees said they wouldn’t sell data for any price – there is still a significant group of people who are willing to profit from selling something that doesn’t belong to them. This information can be worth millions of pounds.”

“A case in point of the true value of data is the recent Ashley Madison hack, where user data has been accessed by a member of their extended enterprise (part of their technical services) according to the site’s CEO; the effects of which have been monumental. The site announced earlier this year that it hoped to raise £130 million in an initial public offering in London this year and it may have lost out on this opportunity reducing the value of its entire business. The attack may have burned a hole in its prospects and has already had a ripple effect on its sister sites Cougar Life and Established Men. As such it is important for companies to understand the risk and address it appropriately – this research can help them do that.”

A corresponding Clearswift survey of 504 information security professionals found 62% think employees don’t care enough about the implications of a security breach to change their behaviour.

Davies concludes: “It is not good business to live in fear of your employees, especially as most can be trusted. Getting the balance right has always been hard. But truly understanding where the problems come from, combined with advances in technology which can adapt to respond differently to different threats, really changes the game here.”

Organisations need to find ways to control where sensitive data is stored and put safeguards in place which prevent it from leaving the company network. Many Companies do this but a lot of large companies with very valuable data do not”.

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