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60 Percent of Workers Steal Company Data

They take private information with them when fired

Feb 23, 2009 14:59 GMT  ·  By
Data theft causes billions of dollars worth of damage for US corporations each year
   Data theft causes billions of dollars worth of damage for US corporations each year

A new study conducted on US workers reveals that 60 percent of them steal private company data when they leave or are thrown out of their jobs, and that most of that information gets used for various purposes. The percentage has been put forth after a new research by the Ponemon Institute, which conducted its survey in 2008, on approximately 945 American adults who got fired, changed jobs, or quit their position over the last 12 months.

According to the paper, most former workers use the data they have amassed for three major reasons. The first is to make it easier for them to find another job. Then, if the information is valuable enough, they use it to start their own businesses, or even to damage the company they have left, if they feel that they have been mistreated or fired for no good reason.

“They are making these judgments based out of fear and anxiety. People are worried about their jobs and want to hedge their bets. Our study showed that 59% of people will say 'I'm going to take something of value with me when I go,'” Mike Spinney, a representative of the Institute, tells the BBC.

Most of the respondents admitted to taking customer data away with them, especially in the lines of work where having such a list was paramount. Good examples of this are the fashion and insurance industries, where connections are everything. Among others, the former employees took without permission financial reports, confidential business documents, various software, contact lists and other employees' records. Other types of intellectual property were also reported to have been stolen.

The new study, backed by a former research conducted by security company McAfee, estimates that the damages generated by organized crime, hackers and inside jobs amounted to approximately $1 trillion in 2008, an inconceivable sum of money to be stolen while sitting in front of a PC screen.

“It is conceivable that a company can lose its corporate life through a large scale data breach. The intellectual property of a company can represent the crown jewels and are almost worth more than the building. This is the core asset of a company and any breach or loss can be very expensive,” Kevin Rowney, a representative of security firm Symantec, concludes in an interview with the BBC.