Industrial Espionage - Serious Problem For Business

Industrial espionage becomes more than an issue as the threat level rises extremely fast. How to deal with threats? Keep reading to find out.

Is Industrial Espionage a Huge Problem?

"Industrial espionage" sounded like a middle-range threat a few years ago. People thought it was nothing but an attempt to steal data from business and use it for personal benefit. However, the problem becomes global as countries could attack each other, launching full-scale cyber attacks. The investigation of China's possible interference in Canadian elections started on May 6, 2022, and is still going. New reports from Canadian officials are revealed. We saw the statement that espionage "increased in scale, scope, and complexity."

Users will only protect themselves from internal threats if they understand the origin of these threats and how they work. So, it's time to reveal all the necessary information about industrial espionage. This is a serious problem; the more you know, the easier it will be to deal with it.

What Is Industrial Espionage?

There are two definitions: industrial espionage itself and economic espionage. In the first case, the process is controlled by private companies, while economic espionage is governed by foreign states. The Chinese case shows what the highest level of espionage looks like. However, it's easy to name those who are guilty, but you first need to prove guilt. 

Even though cyber security specialists locate that signal coming from a specific location, you need to provide more evidence as it could be a false trace.

The Targets of the Industrial Espionage

Invaders target industries that are based on Research and Development (R&D). Manufacturing, IT, automotive, energy, aerospace, financial and public sectors, and other areas may struggle because of weak cybersecurity. Experts recommend paying attention to the following areas:

• Trade secrets. Data about existing products, ongoing and future deals, or something under development. Rivals may target this area to get a competitive advantage or leak confidential information to ruin the plans.
• Client information. Personal data, including payment information, accounts, and funds, may be in danger. Stealing or leaking something from this area may seriously damage the reputation.
• Financial information. Reports, contracts, and other data. Once competitors know it, they can change their strategy and prepare better offers to clients, stealing your audience.
• Marketing information. Campaigns, special deals, sales, etc. It should remain confidential as rivals won't find out what you prepare so that you won't lose an advantage.

Hackers will try to bypass the security system as they update their techniques. That's why you may ask experts to help, as they will advance your security system. 

How to Protect the Business From Industrial Espionage

Detecting this internal threat is not easy unless the company has up-to-date malware protection. This includes incident response plans, formal policies, and control of storage devices. Moreover, most data breaches happen due to physical access, as competitors send their spies to get essential data and use it against the targeted company.

It makes sense to update employees' checks to counter internal threats. Every newcomer should be checked as you should know this person won't cause problems. 

1. Cut off third-party operations. Everything that requires meditation could be a source of danger, especially if you don't know the person well. Look for reliable partners, or stay away from deals with intermediaries. 
2. Secure infrastructure. Establishing the perimeter around the company's network is essential. Using layered security allows you to unleash multiple-level protection as the penetration of the defensive protocols becomes barely impossible.
3. Manage data access. The list of personalities with access to critical information should be limited. As workers promote, they gain access to new data in the amount needed to complete current tasks. Limit the access time (for example, only when people work).

Defend From Industrial Espionage With Mbs Techservice

As the number of threats increases, people search for more effective ways of countering these threats. Industrial espionage not only steals data and ruins the company's plans but also damages it's reputation and causes problems while cooperating with partners. So, investing in industrial espionage & industrial threats prevention is an intelligent choice. By working with MBS Techservices, you get an opportunity to cooperate with experienced technicians. Specialists will analyze the situation and help you build a solid defensive system to discourage potential attackers from attacking you.