Top Four Most Outrageous Key Control Security Breaches

Money, time, resources and reputations are all at stake when a business falls victim to theft. Employee theft alone costs businesses about $40 billion each year. These security breaches impact companies by making employees feel unsafe and disrupting usual business activity. Let’s take a look back at some of  the craziest security breaches that could have been prevented with a dose of proper key control.

Public Works Official Steals $460,000 in Quarters

A public works inspector stole 1.8 million individual quarters from a parking meter coin room (that he should not have had access to) over the course of two years by using his city-issued master key. Electronic key management systems offer access levels, so you can set specific permissions for employees. By limiting the number of employees who can access certain keys, you’ll greatly reduce the risk of internal theft, preventing mis-issue of the wrong key type.

Phoenix Fire Department Can’t Account for 850 keys

The Phoenix Fire Department reported the loss of hundreds of keys that provided firefighters access to buildings all over the city. Not only did the fire department slack on its own security, but it also put many businesses and apartment complexes at risk of theft. With electronic key management, this fire department could have tightly secured these important keys to keep the city safe.

Former Tiffany and Co. Executive Steals Over $1.3 million in Jewelry

As part of her job the vice president of product development at Tiffany and Co. was able to check out pieces of jewelry to show to potential manufacturers. After she left her job, the world-renowned jewelry store found that over 100 pieces of the jewelry she checked out were never checked back in. When it comes to securing highly expensive inventory, keeping a verifiable record is crucial to accurately track key activity.

Coca-Cola Supervisor Loots Vending Machines

Even a huge corporation such as Coca-Cola is vulnerable to internal theft. A former supervisor took a set of master keys and stole over $8,000 from company vending machines. If this bottling company had employed an electronic key control system, the ex-supervisor wouldn’t have access to the keys after leaving the job. In addition, if any unauthorized access was attempted, a manager would immediately be notified by email or text message with information about the incident.

These are a few of the most extreme examples of why key control is necessary for all businesses. Learn more benefits of electronic key control here.