#1: Cyber espionage attacks
Summary: The major effort attack US and other countries to steal data and IP had catapulted cyber espionage to the top of many companies’ priority list.
Details: Several countries, notably China, are using cyber espionage to catch up with Western competitors as well as establish military parity. In a rare interview, SkyNews UK captured on film a Chinese businessman who described how he works with the government to hack his Western competitors:
The conference also highlighted the murky connections between hackers and the Chinese government.
One man who identified himself as a policeman said: “We’re here to see if they have anything we can use. If there is, then we’ll get in touch with them, and take the next step.”
The cost has been tremendous. In fact, this will likely go down as quote of the year:
Exploitation of sensitive data has generated “the greatest transfer of wealth that’s gone on in history,” Gen. Keith Alexander, chief of U.S. Cyber Command.
- Governments, especially China, are living up to their objectives which were outlined in “Unrestricted Warfare” (cover above). One of the key components of the book was “network warfare.”
- The cost has been tremendous. The office of Counter Intelligence released a report saying that between $2 and $400 billion in losses occurred due to cyber espionage. (We detailed this report previously).