There’s a lot to be said for protecting your company against external threats, but many times it’s those inside the company who can do the most damage.

Take the latest case of insider espionage from California Water Services Company. As recently reported, on  April 27, just hours after Abdirahman Ismail Abdi quit his auditor job at CWS, he used his still-active electronic key card to slip into the secured facilities where he used to work.

Then, according to reports, he gained access to the computers of two senior execs to initiate and confirm three wire transfers to an account in Qatar. Total of the transfers:  more than $9 million.

Early the next day, he put his wife and children on a flight to Frankfurt, Germany, and then tried to deposit a check made out to CWSC totaling more than $25,000, which he had apparently stolen, into his U.S. bank account.

On May 1, with federal authorities in hot pursuit, Abdi fled to Canada. He still hasn’t been captured.

The money itself, however, has been recovered.

This case is just one more in a series of insider scams that have companies big and small trying to assess their security exposure.

Two lessons from the Abdi case:

1. Making sure insiders have no more access than they need to do their jobs is key to protecting both your money and your data, and
2. Having clear termination procedures is paramount — especially in these days of layoffs and downsizing.

Tags: California Water Services Co., electronic key card, insider, theft, wire transfer