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. How does industrial espionage affect your business? Spies can breach your security and illegally obtain data in the following ways: Cyber attacksĬyber attacks are hostile attempts to steal, compromise, change, or destroy information by gaining unauthorized access to an organization’s computer systems. With this information, competitors can prepare a timely answer for your marketing campaigns and make them ineffective.ĥ Industries Most at Risk of Data Breaches Methods of industrial espionage Financial information about your company can be used to offer better deals to your clients and partners, win bids, and even make better offers to your valuable employees.Another possible scenario is leaking illegally acquired data to damage your company’s reputation. Data about your clients, including their financial information, can be exploited to steal your business. This information may help your rivals get a competitive advantage. A trade secret generally means sensitive information about existing products or products under development. Pay special attention to protecting the following data in your organization: Industrial espionage is also common among the retail, financial, and public sectors, as they have high competition and often suffer from a lack of investment in cybersecurity. R&D often involves innovative solutions and technologies that are costly to develop, making them a desirable target for spies. Industries that heavily rely on research and development (R&D) – including the computer hardware manufacturing, IT, automotive, energy, aerospace, and chemical sectors – should be extra cautious. Insider Threat Prevention Targets of industrial espionage Now, let’s see who’s most at risk of becoming a target for industrial spies. Consequently, we will be using 'industrial espionage' as a generic term in this article unless we want to stress the specifics of economic espionage. 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 means embracing 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. Learn More Learn MoreĪssist your customers in building secure and reliable IT infrastructures Become a Partner Become a Partner Get in Touch Get in Touchĭownload “How to build Insider Threat Program in 10 Steps” white paper and enhance your insider risk management strategy through concrete actions. Competitor Comparison: Detailed Feature-to-feature, Deployment, and Prising ComparisonĬontact us to learn more about how Ekran System can ensure your data protection against insider threats.Take a quick look at the new functionality Learn More Learn More
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