That’s why even sophisticated anti-malware protection and firewalls are not enough when insider and cyber threats are linked. Moreover, cyber breaches are often preceded by physical access that makes them possible. The majority of companies have up-to-date malware protection and network security, but only a few think about incident response plans, control of storage devices, and formal policies. Many companies still don’t have a cyber espionage prevention strategy in place.
However, knowing the risk doesn’t always make companies take necessary measures. The risk of a cyber attack is a well-known nightmare for organizations. They can gain access to your sensitive data by exploiting known and zero-day vulnerabilities. Hackers or outsider attackers are frequently involved in industrial espionage. Various industrial espionage methods to breach your security and illegally obtain data can be performed by spies in the following ways:Ĭyber attacks are hostile attempts to steal, compromise, change, or destroy information by gaining unauthorized access to an organization’s computer systems.
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Read also: 5 Industries Most at Risk of Data Breaches Methods of industrial espionageīefore discussing how to prevent corporate espionage, let’s find out how it’s performed. With this information, competitors can prepare a timely answer for your marketing campaigns and make them ineffective.
The interests of governments and companies frequently overlap, making it hard to distinguish between these two types of espionage. While industrial espionage is controlled by and benefits private companies, economic espionage is governed by foreign states. The main difference lies in who’s the coordinator. Wagner distinguishes two: industrial espionage itself (which can also be referred to as corporate and commercial espionage) and economic espionage. There is some ambiguity around types of industrial espionage. It involves compromise of trade secrets and intellectual property theft. Unlike competitive intelligence, industrial espionage embraces illegal and unethical methods of collecting corporate data to gain a competitive advantage. The financial consequences of industrial espionage are significant:Īccording to Mike Orlando, the director of the National Counterintelligence and Security Center, the annual cost of solely Chinese espionage in the United States is estimated at approximately $600 billion. According to NBC News, “The FBI opens a new China-related counterintelligence investigation every 12 hours on average.” Intelligence on competitors gathered in a legal way can give you a leg up in the fight for market share.īut sometimes, companies and governments want more.Ĭompetitors and governments send agents to spy on critical information more often than you might think. You will learn what measures to take to keep your business secrets safe and sound. In this article, we explain (with real-life examples) how corporate spies attack and discuss how to prevent industrial espionage. That’s why it’s important to ensure that your organization’s data is well-protected. Information about your company, its products and services, finances, sales, and marketing strategy is a weapon of modern economic warfare. Especially in the hands of your competitors.
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