This will probably fire most turns. If the corp isn't gaining credits through some ability or another, they're probably losing. Worst case scenario, one of these drawn early will cost the corp a click and 3 credits, so this is an effective tactic for delaying corp plans about as much a reverse Hedge Fund.
If you see one of these early, playing it is usually part of the best turn available. Late game, it's less valuable, but still probably valuable enough to play.
If the corp lets Pad Taps survive (probably because they are financially strapped or because the end is in sight), every money-gaining option gets less appealing. Every "the corp gains $1" subroutine becomes a potential liability. In case Tithe wasn't hurting enough, now it's a double agent for the runner.
The flavor text doesn't fit the story very well. Unless the corps are a lot more forgiving and/or incompetent than we've been led to believe by every other card, it'd be odd if corporate employees were blase about doing something which might get them murdered. If a company has dedicated response teams, kill teams, contract killers, secrets punishable by death, cricket-bat psychos, yakuza on speed-dial, or seppuku at gunpoint, it's probably a very unusual employee who doesn't care whether the security department thinks he's a problem. Most of the other corporate characters with major individualistic streaks usually have a more interesting explanation than incompetence (e.g. Exile's grief or Emelyov's warlike nature or Cortes' megalomania). Also, if corporations have taken over most of the universe and are supposed to feel threatening, it should take more to fool them than getting a haircut.