What You Ought to Know About Employees Selling Work Passwords under $1,000

Corporate security is threatened with the alarming news that one in five employees would sell their work passwords for less than $1000. Some would even give up their corporate access credentials for less than $100 or equivalent to just the price of a dinner, according to a report by SailPoint—an identity and security management company.

Let’s get a closer look at some of the survey’s key findings

  • Poor password hygiene

    From 1,000 respondents, the survey reveals a range of ‘’poor password hygiene” habit of employees. About 65% admitted using a single password for all software applications.Saas application

  • Data breaches

    Because of poor security practices, organisations are exposed in data breaches. Research from Identify Theft Resource Center (ITRC) shows a total of 781 data breaches tracked in 2015—the second highest year recorded since 2005.

  • Unauthorised use of applications

    33% of employees are buying cloud-based SaaS software without their IT department’s knowledge to upload sensitive information with the intent to share files with outsiders.
    More alarmingly, over 40% of respondents said they still had access to various corporate accounts even after leaving their job.

No one is safe. Neither are you.

With the recent survey, it shows that no company is safe from any type of attack. The method of taking information is slowly changing. It’s getting more direct and personal.

Hackers are now targeting the weakest link, your employees. Why? Because an individual’s digital identity is the key that unlocks corporate data and applications.

When it comes to technology-driven processes, outsourcing accounting is one critical area that requires a higher level of security. Yet, it can still be easily outsourced to highly qualified professional organisations that can assure the safety of your company data. Their business is to help you promote efficiency and profitability without you worrying about data theft.

Identity is everything.

At The Outsourced Accountant, we take data security seriously. We practice safety measures to keep clients’ data safe in the cloud. Here are some helpful tips you can practice to fully maximise the benefits of business outsourcing, especially in the industry of accounting.

  • Stay educated and be up-to-date

    Since cloud technology is part of the outsourcing industry, it is important to be well informed of how things work and its potential risks. Educated users can easily monitor potential problems and address them promptly.

  • Keep your data safe

    The cloud is not 100% foolproof but, there are some safety measures you can use to protect your company data. One is by implementing strong password. Use alphanumeric characters—a mixture of numbers, letters, and some punctuation.

  • Get a dedicated security officer

    Hiring a dedicated security officer whose sole focus is to monitor and protect company data can help prevent attacks from happening. Having someone to see the cloud infrastructure helps maintain control over company’s information.

Entrepreneurs have long seen outsourcing as an effective strategy reserved for businesses to make a powerful impact on growth, productivity, and bottom lines. Do not let data security stop you from taking advantage of outsourcing.

This article was first posted on Public Accountant. You can find the original article here

If you are thinking of offshoring, but is afraid of security, talk to the experts. Take full advantage of our complimentary session with Accounting business experts, book your session now.