Black & White – Business Faces Risk of Data Theft by Insider (મારા ધંધા મા ચોરી થાય અને કોણે શુ ચોર્યું એની મને ખબર પણ ના પડે, આવું બને ? હા બની ગયા !)

       Business Faces Risk of Data Theft by Insider   

 (મારા ધંધા મા ચોરી થાય અને કોણે શુ ચોર્યું એની મને ખબર પણ ના પડે, આવું બને ? હા બની ગયા !) 

Dr. Rao in 1991 started his dream company  ‘Trans Biotech Limited’ – a pioneer in Biotech boom , working on Research & Development  of Vaccines  and Oral health care in Cyber-City Hyderabad. The company was famous for selling Hepatitis B patented vaccine to Serum Institute , Pune (now in limelight because of Corona Vaccine).

 

In spite of good market, company has poor management system, and because of these faced various frauds & failures within organization. One fraud was in Global Depository Receipts/GDR issues and another in Digital Data Theft.

 

For any business, in today’s scenario - data/information is the most valuable assets, days are gone where we uses security guard at doorstep to protect the physical assets, now, the asset is in intangible/logical form,  which can be stolen in 2 GB pen drive and can make your business Hero to Zero within fraction of seconds.

 

In Pharma business, Testing procedure, Vaccine formula, Raw material details, Suppliers details are important  trade secrets and one of the employee Mr. Sharma working as a Business Development manager knew the importance of data, he had a malafide   intention and he stealed all the Trade Secrets over a period of time and started his own pharma business competing with employer  at Vizag City located near Bay of Bengal. Sharma also took away company’s production manager and chemist along with him offering high pay and company’s share prices collapsed as company has lost it’s secret data and then legal battle start for the data theft. Had the company been proactive in IT policy & corporate governance, such situation might have not been aroused.

 

From these case it is required to understand why these happened and how can we prevent the electronic data theft from our organization ?

 

Generally, it is observed that 3 out of 10 business faces data theft risk and theft is done within the company by insider.  Reason of the same is either they (1) Want to start their own business (2) Take revenge against boss/management (3) Selling Data for money (4) Ransom (5) sense of ownership of data (6) for wicked fun, etc. and unless proper corporate governance is set we never knows about such things.

 

To prevent such data leakage, we have to take various measure like , (1) Setting up a data privacy policy (IT) (2) Making Non Disclosure Agreements (3) Using High Tech IT Security Controls such as – fire walls, Anti Theft Software’s, Access Controls (4) Making Exit Formalities for staff (5) Creating awareness about IT Act, 2000, (6) Create a high morality , appreciate whistle blower and promote ethical culture among staff.

 

One can always go for civil/criminal suit for infringement of IPR but it is long and cumbersome  process to deal with cyber crime and our key data may never come back. And today, when we are allowing Remote working, it becomes more risky to have control over it. Therefore, one needs to classify data as per their importance and accordingly security measures to be implemented in a planned manner by the management.     

                              ‘’  ટહુકો - ચેતતા નર સદા સુખી ! ‘’

 ikuchi management                              Siddharth bhatt                              Issue/Digi Theft/6