Items Tagged with 'employee fraud'

Account information for approximately 900 Morgan Stanley clients was, briefly, available online. One employee has been fired so far in the incident, and an investigation is ongoing. 

Most small businesses do not involve the police when they catch an employee stealing, new research finds. Sixty-four percent of small businesses have experienced employee theft, but only 16 percent of those reported the incident to police, the study found. Overall, 40 percent of thefts in small businesses are of money, and cash thefts reported in the study range from $5 to $2 million, with $20,000 being the average amount stolen.

Let’s start with the good news. Malicious insider activity is relatively rare. Unfortunately, even though outsiders account for 85 percent of cybersecurity incidents, the damage often is substantially greater when an insider strikes.

Disguised as authentic utility workers, a band of copper thieves dug up and stole nearly £280,000-worth of redundant cabling from locations all around London, many of which were leaked through at least one crooked BT employee.