Employee Data Theft is the Second-Most Common Cyber Incident for Retailers

employee data theft

According to Garett Seivold, security expert and LPM contributing writer, cyber criminals may not always be hidden in the deep, dark web. Sometimes they’re hiding in the most obvious of places. Your stores, for instance.

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Kroll’s most recent Global Fraud & Risk Report indicates that employee data theft is the second-most common cyber incident for retailers, after email-based phishing attacks. In a feature article for the February 2018 issue of LPM Online, Seivold digs deeper into the growing problem of insider data theft. From the article:

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It complicates prevention that offenders often use nothing more than their legitimate access to networks to conduct their misappropriation, be it of intellectual property, client lists, or customer financial data. It’s harder, too, because online fraud forums now provide employees with a readily available avenue to profit from stolen information. They can make money off customers’ or coworkers’ personal and financial information without having to run the risk of stealing directly from accounts. The security firm RedOwl said its 2017 research shows “continued recruiting of retail workers that have access to consumer credit card information.”

Read more about the possible motivations behind intellectual property theft, network sabotage, and other cyber crimes in the retail space in “Cyber Threats on the Payroll: Methods and Motivation of Insiders.”

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