Internal Theft
We all worry about the threats that external parties pose to our businesses, but too often we forget the damage that those inside the organisation can do. Alarm systems, CCTV, and security all serve to keep people out, but what about those who are already on the inside and know how to get around these security measures?
Why is Internal Theft a Problem?
The threat of internal theft is in many ways far greater than the threat of theft from external parties. Your employees know the ins and outs of your organisation better than anyone else, and as such are far better positioned both to begin the process of internal theft, and to refine and continue it undetected over time. As a result, the potential losses are far greater.
Whether the perpetrator is stealing for immediate financial gain or in order to set up their own competing enterprise in future, your customer lists, pricing schedules and structures, product details, propriety software and perhaps even other employees could well be at risk.
Protecting from Internal Theft
The best way to protect from Internal Theft, is to ensure that protection of assets is an intrinsic part of your company culture. This can be achieved by introducing a better review process, improving existing safeguards, and most importantly communicating policies to staff, and securing their buy in by involving them in the process.
To truly protect yourself from the threat of Internal Theft, it’s important to understand the methods that employees may use. These could include but are not limited to:
• Diversion of business to a competitor or their own entity
• Sale of assets or services for cash with no receipt
• Under delivery of goods to a customer
• Replacement of genuine product or parts with substandard or counterfeit versions
• Amending asset records to reflect lower stock count so that the excess can be stolen
• Consorting with supplier to allow delivery of less than the stated quantity or product of poor quality
• Theft of product or material from the workplace
Regents’ Approach
At Regents, we understand that one of the most groups most susceptible to involvement with Internal Theft, is middle management. This group not only has access to a great deal of company knowledge, but may not have been senior enough to establish complete loyalty to the brand. As such, they are often the most likely to strike out on their own.
Regents can help you to implement a policy that will help you to protect your assets from the inside out, through the engagement of these middle managers. We recommend a multi faced approach that deters such activity by making protection of assets part of the corporate culture, and promoting the fact that errant behaviour will be investigated, and in many cases followed by civil action.
Corporate Investigations
Internal Theft
Intellectual Property
Employee Misconduct
Locating People
Need Professional Advice?
Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module
Regents Blog
Issues with Listening Devices – aka `bugs’
Listening Devices – aka `bugs’Technical Surveillance is the security industry term for that laypeople would normally call a `bug’ – essentially a listening device that can be placed inside an office, vehicle, room etc. The Technical Surveillance device can then record...
Spear Phishing Attacks in Malaysia
The integrity of Malaysian commercial and government computer systems continues to be threatened by the increase of spear phishing attacks by groups based overseas. Phishing attacks occur where mass emails are sent out to multiple users enticing them to click on a...
Ransomware attacks surge in Malaysia
Ransomware has become a critical threat for small and medium sized businesses in Malaysia and across South East Asia due to the ease with which Bitcoin makes extracting ransoms from their victims. Ransomware is simple but toxic. Malicious software is inadvertently...
Business Email Compromise Scams Are On The Rise
Business Email Compromise Scams Are On The Rise There has been a surge in business email compromise (BEC) or email account compromise scams (EAC) in recent years, causing losses of Millions of Dollars every year to individuals, plus Small and Medium companies. This...
Bribery and corruption behind Football
match fixing in Malaysia
Online gambling on football matches in Asia has reached hundreds of millions of dollars each season – with the risk that those involved in making or receiving large-scale bets would seek to manipulate the results by threats or bribes of the players, managers or...
Questionable hiring practices in Asia
causes Conflict of Interest for Banks
The UK based Barclays Bank PLC has become the latest international bank to reveal that U.S. authorities are investigating some of their hiring practices in Asia – suggesting a conflict of interest. Sources indicate that Barclays Bank is alleged to have improperly...