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With the increase in technology, businesses have become more allowing of the idea of BYOD (Bring Your Own Device). According to an article on Lexis Nexis ® Corporate Counsel Advisory, that while this trend can lead to increased productivity, it also serves as an espionage risk. If they leave the company they no have a device that could allow them to take confidential information from their previous employer (you) to their future employer, who might be competition.
A Costly Caper
According to a survey by the RSA it was shown that while companies invest heavily on compliance and against accidental leaks, that employee theft of sensitive information is 10 times more costly (per-incident) than accidental loss.
According to a separate study by O’Melveny & Myers LLP, more and more of theft incidents are being committed by trusted employers. In fact, the report shows that the number of trade-secret cases doubled from 1988 to 1995. They would see the numbers double again from 1995 to 2004.
In over 85% of trade secret cases, the alleged misappropriator was someone the trade secret owner knew. Despite this concerning trend ,nearly 41 percent of respondents do not implement mobile device security software in order to access corporate systems or data, according to a survey by the Cloud Security Alliance . An additional 24 percent of respondents said mobile devices are not allowed direct access to corporate systems.
Greedy & Vindictive
It is not unusual for a close executive who has knowledge of a secret to strategic plans to be recruited by competitors. These employees are valued and will command a higher salary. They simply download data, contacts, customer information or whatever will help their new company become more powerful in the market. In one case regarding an accounting firm, the firm’s departing employees destroyed a lot of customer data at the company, but not before transferring it.
The Prevention is in The Planning
If you are going to have BYOD, plan for it in every phase of employment. Make sure your BYOD policy is clear and protects company and employee privacy. Employees, who agree with the policy, must know:
- Which devices are permitted
-What they can do with them
- What the penalties are for policy violations.
This policy should include a prohibition of downloading files to home computers.
Use Security Technology to its Fullest
Thanks to the advancements in technology, companies are permitted to not only remotely wipe data from a mobile device, but to compartmentalize company and personal data. It is helpful to have someone savvy in your IT department that can keep an eye out for large file transfers.
Setting a particular boundary is necessary when it comes to the BYOD style of work! For that matter, even if the company allows an employee to take any device back home, safety protocols must be issued in order to keep information safe!