Sensitive information being shared via online platforms and telephones, or on printed documents is also vulnerable if not protected appropriately. Potential workplace threats include new starters, disgruntled or greedy employees, but also suppliers and contractors who may take confidential information with them, with little sign of detection. There is little point in monitoring systems if you don’t also monitor the people who have access to them. They will play on basic weaknesses, knowledge gaps, and human frailty, which is why businesses must have the correct measures in place to monitor these threats. We could argue that accessing personal information about an organization’s people allows spies to better infiltrate the business, or even recruit new talent straight from within the business.īusiness spies will develop detailed and strategic plans to infiltrate organizations and access their data. Increasingly, spies are stealing personnel records, as these are also of great value to businesses. In some cases, it can be as simple as a bogus new starter entering the building, armed with the right information to get by security, swiftly stealing confidential information in the form of documents, laptops, or mobile phones before anyone notices. To put this into context, that’s US$5.5 trillion more than all costs relating to the attack on the World Trade Center in New York City in 2001, which were estimated at US$3 trillion for the five years following the attack.īusiness espionage can have a catastrophic impact on businesses, and yet it is one of the least understood threats facing organizations today.īusiness espionage can come from many sources, including individuals, competitors, foreign governments, or criminal gangs, and in most cases, perpetrators can get away with business-critical and confidential information long before anyone becomes aware of the breach. These spies can be employees, former employees, cleaners, contractors, or intruders.Īn estimated US$8.5 trillion ($1.7 trillion per year) is lost worldwide in five years as a result of business espionage. In some cases, business espionage can be carried out by spies, who infiltrate organizations to access private information in various ways, from stealing or copying files to going through paper waste. This can involve cyber-attacks, where systems are hacked and confidential data is downloaded, copied, or stolen, but it also involves the use of listening or monitoring devices, hidden cameras, and transmitters. Unlike corporate espionage, which involves corporations spying on other corporations, business espionage occurs when governments or competitors spy on businesses, whatever their size or function. But with all the focus on cyber, businesses could be overlooking a greater threat to their security most commonly referred to as business espionage or business spying. The National Cyber Security Center continues to warn businesses that cyber-attacks are on the rise and that organizations should have the correct prevention strategies in place.
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