Forms of Employee Monitoring That Stop Insider Theft and Fraud

Business procedures used to produce the kinds of paper trails that made it simple to identify insider fraud and other wrongdoing. However, that has all altered in the digital age. Because of this, a startling 95% of companies now say they have issues with employee theft.

Furthermore, companies are dealing with issues other than employee theft. More and more, authorized employees will tend to be insiders who misuse their access to enable cyberattacks against their very employers. Such attacks can be pervasive and have the potential to result in threats to the operational continuity of companies.

More and more companies are being put in the unenviable position in such circumstances having to spy on the activities of employees. After all, this is tough work, not really what any employee wants. The secret is to restrict staff monitoring to what is necessary to sufficiently safeguard the company’s interests, though. These are the three main areas on which companies ought to concentrate.

Utilizing Computers and Accessing Data

Even though asset and money thefts might harm a company, they are much less likely to be as devastating as a successful cyberattack. Because of this, the most crucial thing that companies need to monitor is how their staff members use company-owned computers and networks. They should, at the very least, use a single sign-on (SSO) solution to closely monitor and manage which staff members have access to what information and services.

To find out how staff members are utilizing their access, they want to think about implementing Controlio, an employee computer monitoring software. This can help managers catch rogue employees before they cause significant harm by alerting them to suspicious activities. Additionally, the program can act as a potent deterrent against malicious activities if it notifies employees of its presence.

Monitoring Financial Information and Fraud

Financial fraud is the second biggest insider threat to modern enterprises, after cyberattacks. Because of this, companies need to constantly keep an eye out for any indications of fraud in all of their financial data. They should start by closely monitoring employee expense accounts, since a large portion of fraud committed by employees against their employers is cost fraud. Businesses must train staff members on how to track business spending in order to combat it, and they must also conduct routine process audits.

Indeed, companies should ensure that AI and machine learning technologies are in place to monitor their corporate accounts at all times for any trace of fraud. Indeed, many manufacturing companies today offer AI-powered fraud detection solutions, which are one of the most proactive defense methods. They are skilled at identifying irregularities that could point to a threat because they are always learning from the company’s consistent financial habits.

Controlled Access to Facilities

Finally, but just as importantly, companies need to keep an eye on and manage employee access to company property. The majority of organizations are accustomed to and have long used this form of physical security. However, modern companies have access to sophisticated surveillance and access control technologies that go far beyond simply giving keys to specific workers, and they ought to make use of them.

Facilities access should be strictly controlled and scheduled in order to deter theft. The intention is to restrict entry to the office to personnel who have a valid cause for being there. Additionally, companies ought to think about enhancing their camera-based security systems with AI-powered cloud solutions that can instantly recognize the telltale symptoms of physical theft.

Safe But Not Obtrusive

Businesses may efficiently police their workforce and identify issues before they negatively impact the company by utilizing the appropriate tools in the correct manner. Additionally, they may accomplish it in a method that won’t cause a distraction or ruffle the feelings of their staff. Employers should, of course, be free to increase monitoring as needed to meet their demands. However, they ought to be able to overcome the most significant insider dangers they encounter by focusing on the three key areas mentioned above. And it’s undoubtedly a goal worth working toward.