Tag: Economic Espionage

Economic Espionage: A Foreign Intelligence Threat to American Jobs and Homeland Security

Congress held a hearing today about the threat from economic espionage. The FBI said economic espionage losses to the American economy total more than $13 billion—in this fiscal year. “Our economy is a matter of national security,” said FBI Assistant Director/CI Division Frank Figliuzzi. Committee on Homeland Security “Foreign economic and industrial espionage against the […]

Travel “Electronically Naked” to China

“Everybody knows that if you are doing business in China, in the 21st century, you don’t bring anything with you. That’s ‘Business 101’ — at least it should be.” — Jacob Olcott, a cybersecurity expert at Good Harbor Consulting From the New York Times: When Kenneth G. Lieberthal, a China expert at the Brookings Institution, […]

China’s Cyber Thievery Is National Policy—And Must Be Challenged

An Op-Ed in the Wall Street Journal written by Mike McConnell, Michael Chertoff and William Lynn Mr. McConnell, a retired Navy vice admiral and former director of the National Security Agency (1992-96) and director of national intelligence (2007-09), is vice chairman of Booz Allen Hamilton. Mr. Chertoff, a former secretary of homeland security (2005-09), is […]

SEC Push May Yield New Disclosures of Company Cyber Attacks

Bloomberg has an article about the SEC requiring companies to reveal more cybercrime information when their networks and intellectual property/secrets are hacked. Some interesting facts and quotes from the article: • The cost to businesses of exposing data such as Social Security and credit-card numbers climbed to an average of $7.2 million per incident last […]

China’s non-government economic espionage against US companies

From The Diplomat, 11 December 2011: With each week seeming to bring with it a new example of a cyber attack launched from China, the issue has in many minds become inextricably linked with the Chinese government. And with China’s state-owned firms dominating the country’s economic landscape – and with Beijing’s apparent willingness to protect […]

Insider Threat: Senior Scientist in Utah Charged With Industrial Espionage

A senior scientist at drug company Frontier Scientific Inc. in Utah — 42 year old Prabhu Mohapatra — was charged for emailing company trade secrets to his brother-in-law in India, who co-founded a new competitor company called Medchemblox. JDLR Alert: A co-worker saw him create Microsoft Word documents of a chemical formula, which was intellectual property […]

Losses from intellectual property espionage: a trillion dollars a year

NPR published a recent article called, “China’s Cyber Threat A High-Stakes Spy Game.” Here are some interesting points: How to travel to China: “I first of all get a loaner laptop. And the USB that I bring, I clean digitally before I bring it, so it’s totally blank,” Lieberthal says. Lieberthal then disconnects the Wi-Fi and […]

Trusted insider charged with corporate espionage

An local ABC TV news station in Chicago is reporting on a recent case of 2009 Cornell University graduate Yihao Ben Pu, a 24-year-old man holding both a US and Chinese passport who “was once a trusted technology employee at Citadel Investments, once of the world’s largest hedge fund managers. Pu is charged with attempting to […]

REPORT: Foreign Spies Stealing US Economic Secrets in Cyberspace

The National Counterintelligence Executive has issued their latest report to Congress on foreign economic collection and industrial espionage called “Foreign Spies Stealing US Economic Secrets in Cyberspace.” Executive Summary Foreign economic collection and industrial espionage against the United States represent significant and growing threats to the nation’s prosperity and security. Cyberspace—where most business activity and […]

Chinese National Pleads Guilty to Economic Espionage

From ABC News, 18 Oct 2011: A Chinese national has pleaded guilty to economic espionage for providing trade secrets from agricultural firms Dow and Cargill to the Chinese government. Kexue Huang, pleaded guilty to one charge of economic espionage before a federal judge in Indiana, admitting that while he worked at Dow AgroSciences LLC and […]