Are you protected against Cyber Data Theft? Only this week the Chinese were Charged with Cyberspying by the USA:
On Monday 19th May the US Justice Department filed charges against five Military officials with hacking into US Companies to steal trade secrets in a tension filled legal battle of international giants
An official spokesman from the US says the companies that were hacked included Steel Companies and Trade Unions and this is the first time that charges have been brought against China in what is thought to be a widespread problem.
Nuclear, Steel, and Solar Companies:
It seems that China has targeted nuclear and solar technology companies and stolen confidential business information, sensitive trade secrets and internal communications for competitive advantage, according to a grand jury indictment that the Justice Department said should be a national “wake-up call” about cyber intrusions.
The alleged targets were Alcoa World Alumina, Westinghouse Electric Co., Allegheny Technologies, U.S. Steel Corp., the United Steelworkers Union and SolarWorld. The indictment, which includes charges of trade-secret theft and economic espionage, was issued in Pittsburgh, where most of the companies are based.
China denied it all. In a statement, the Foreign Ministry said the charges were based on “fabricated facts” and would jeopardize China-U.S. “cooperation and mutual trust.” In a further move late Monday, China announced it was suspending cooperation with the U.S. in a joint cybersecurity working group and warned of further retaliation “as the situation evolves.”
To assess your business risks, Ask Yourself these 3 Questions:
- What would a serious cyber security incident cost my organisation?
- What if my business is hit by a cyber-criminal and I cannot trade?
- How could my brand recover if I lose my customers private information?
- Is my business ready to handle a cyber-security incident?
If you would like to know more about protecting your business and online data by effectively and proactively addressing this serious and tangible risk , do give us a call and we will be happy to advise you:
Tim Lee,
Tel: 0116 344 0040
https://www.cornerstoneinsurance.co.uk/insurance-quotations/cyber-liability-insurance/