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Company cost thousands by student
Category: Data management
9 March, 2009
An engineering firm has lost data worth more than NZ$150,000 (£53,770) because of the actions of one of its staff members.Gareth Pert - an engineering student working for New Zealand-based Progressive Hydraulics - deliberately deleted his employer's data backup systems after he felt he was getting underpaid, according to stuff.co.nz.
Police estimated the data to be worth $150,000; however, the true cost to the business is incalculable due to setbacks in timescales and the loss of entire projects.
Company director Rodney Sharp told the website: "Electronic data is actually worth a lot more money than you think. It's not until you lose it that you realise what a key component it is in your business."
In related news, Cambridge Network recently published a number of tips to help reduce the likelihood of insider attacks seriously damaging a business.
IT consultant Richard Bartlett wrote in an article for the website that companies need to monitor user account privileges and implement strict password and account management policies to improve data security.
