Wednesday, March 20, 2013

Cybersecurity Experts Warn Many Cos May Have Had IP Stolen

Wall Street Journal (03/19/13) Ensign, Rachel L.

Experts who testified at a U.S. Senate Armed Services subcommittee hearing on March 19 warned that thousands of U.S. and Western European firms had their intellectual property stolen by hackers believed to be linked to the Chinese military. 

Mandiant CEO Kevin Mandia and CSO Richard Bejtlich, spoke about how the corporate espionage they had witnessed while researching a report on alleged Chinese hacking could impact U.S. business. The men said the goal of the hackers was not to shut down a business but rather to steal documents related to product development and business plans. 

Mandia said this information theft could be linked to the surge in Chinese knock-off stores replicating products made by Western chains. Bejtlich, meanwhile, said the cost of defending against such cyber espionage attacks can be too high for smaller companies. "Unless you are a top company who can hire top talent and scale it out … you cannot afford defenses that will stop a Chinese military unit or a Russian unit or anyone else," he said.

More here: http://blogs.wsj.com/corruption-currents/2013/03/19/cybersecurity-experts-warn-many-cos-may-have-had-ip-stolen/?KEYWORDS=security

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