Biotech and pharmaceutical companies represent the cutting edge of innovation in advancing medical research and environmental preservation. With billions of dollars invested in developing new techniques and formulas to improve the lives of millions of people, biotech and pharma companies must safeguard highly sensitive data, proprietary research, and other critical assets.
Cyberattacks from outsiders attempting to infiltrate company servers are a constant threat, usually thwarted by layers of cybersecurity barriers. However, 75% of industry security breaches were caused by insiders.[i] And most external threats that were successful worked because they took advantage of an insider.
The history of biotech and pharma industry data breaches illustrates the immense financial and operational damage untrustworthy insiders inflict on their companies:
- In May 2023, a biotech company experienced a data breach in which clinical test data of 2.5 million individuals was stolen.
- In March 2024, a major pharma and med. tech company accused a former employee of taking thousands of files as they assumed a new role at its primary competitor.
Effective Insider Threat Detection for the Biotech and Pharmaceutical Industry
Biotech and pharma companies employ thousands of employees and consultants whose pre-hire backgrounds were screened to ensure they possess integrity and discretion, character traits essential to the security of the confidential assets central to the company’s success.
While pre-hire background screening is an indispensable part of the onboarding process, continuous workforce monitoring is crucial not only for detecting individuals engaging in criminal activity during their off-hours but also for maintaining a safe working environment. Personal pressures and financial stress often lead formerly trusted individuals to act contrary to their normal character.
It is vital for department heads and corporate security officials to be aware of criminal conduct indicative of an employee’s developing personal crisis. Offenses involving excessive alcohol use, drug abuse or distribution, bad checks, insurance or bank fraud, tax evasion, illegal gambling, domestic violence, or illegal use of weapons are all red flags that employers should be alerted to immediately. Any delay in learning of these significant events can compromise the security of company assets and staff.
PostHire provides the superior continuous workforce monitoring product to corporate and nonprofit organizations with nationwide coverage working 24 hours a day, 7 days a week. If any monitored employee, consultant, or other monitored party is arrested or criminally charged anywhere in the US, PostHire’s proprietary technology will notify the employer in near real-time.
Protection from Third Party Vendors and Outside Partners
In addition to on-site and remote employees and consultants, biotech and pharma companies also collaborate with an extensive network of partners. Third-party supply companies, transportation contractors, IT infrastructure service providers, and other vendors each employ a workforce whose members were screened only by their direct employers.
To ensure the reliability of outside contractors and third-party employees who require access to a company’s physical plant, computer network, or touch any portion of the company’s operations, the contracting service provider should be required to continuously monitor their workforce as well to maintain a consistent standard of integrity.
PostHire monitors workforce populations at any scale and at exponential savings compared with services offering annual re-screenings of individual employees. With our new Annual Savings Calculator, every company can predict the amount of savings to be realized with PostHire on an annual basis.
Continuous Workforce Monitoring Is Essential for Round-the-Clock Security
Every chain is only as strong as its weakest link. In the context of the biotech and pharmaceutical industry, every employee represents the potential for a link to fail. Individuals facing desperate situations may become vulnerable to intellectual property theft, confidential trial data breaches, or sabotage products in development.
PostHire offers unsurpassed coverage with the most up-to-date and data-rich continuous employee screening platform.
A safer workspace starts with one conversation.
Contact PostHire today for a 90-day look back of criminal activity of your organization’s actual employees – at ZERO cost to you.
