Corporate espionage is a serious issue, with businesses losing an average of 5% of their annual revenue every year. How?
Moles.
Spies.
Duplicitous employees.
It’s not just large companies that are at risk either; even small businesses can be targets as well.
So how do you know if there is a corporate spy in your company?
1. Unusual activity around sensitive data:
Creeping around confidential documents and pilfering data is a common tactic used by corporate spies. If you notice someone copying, accessing, or otherwise handling sensitive information when they don’t normally do so, this could be a sign.
How to catch it
Suspicions are one thing.
Proof is another.
To get proof, it’s important to have TSCM Sweeps. This specialized type of security sweep involves an analysis of your entire office or facility by highly trained personnel with state-of-the-art equipment for detecting various types of bugging and surveillance devices.
Another way to detect corporate espionage is to monitor employees’ internet and computer activity. This can help you identify any unusual behavior that could be linked to insider threats, such as repeated attempts to access restricted areas or downloading confidential documents.
Keeping on top of document access is key to ensuring your corporate secrets stay just that.
A secret.
2. Abnormal expenditures:
Keep an eye out for sudden spikes in spending for unexplained reasons. Corporate spies may use company funds to purchase equipment or services that could be used for their own personal gain, or worse, the gain of a direct competitor!
This could point to someone in the accounting department, covering up important expenses or even embezzlement.
How to catch it
Be sure to regularly review your company’s spending reports personally.
Flag any suspicious transactions or numbers that simply don’t add up.
It’s also a good idea to have clear guidelines on what is an acceptable expenditure and make sure all purchases are documented and approved by the appropriate person or department to prevent unexpected budget changes.
3. Unexpected changes in behavior:
Pay attention to any sudden behavioral changes in employees, such as increased secrecy or withdrawal.
Corporate spies may be trying to keep a low profile and go out of their way to hide what they’re up to.
Oftentimes it’s the lay people who see that something is wrong first. So be sure to listen and listen closely when your employees say that something is off.
How to catch it
It’s important to foster an open and trusting work environment so that employees feel comfortable coming forward with any suspicious behavior they may observe.
Encourage your team to speak up if they notice something out of the ordinary, and make sure there are processes in place for them to do so safely.
Foster an atmosphere of listening to help your employees feel safe coming to you with their suspicions.
4. Unusual travel patterns:
Keep an eye out for any strange travel patterns or trips that occur around the same time as trade secrets are released. Corporate spies may use business trips, vacations, or even sick days to meet with contacts outside the company and pass on stolen information.
How to catch it
If you’re suspicious of a particular employee, check their passport to see if it aligns with their alibi. It’s also a good idea to have a policy in place for approving business trips and clearly define the purpose of each trip.
Final Thoughts
It can be tough to keep an eye out for these warning signs, especially if you’re running a busy company with dozens of employees.
To protect your business from corporate spies, it’s important to invest in robust security measures and create a culture of transparency.
The better informed your team is, the better prepared they’ll be to spot suspicious activity and help protect your company from insider threats.
Stay vigilant and stay safe.