Friday, February 17, 2012

Hacked: How China is stealing America's business secrets

...condensed version via
What's going on?
American companies are the victim of an "onslaught of computer network intrusions that have originated in China," according to a report by the U.S. government's National Counterintelligence Executive (NCE).

How is the technology stolen?
In the case of cyber-attacks, Chinese hackers may leave malware inside the computer systems of American firms, where the nefarious programs can go undetected for years, slowly bleeding companies of information.

What impact does the theft have on U.S. companies?
It can be devastating. Some say China is stealing $400 billion worth of sensitive information a year. The NCE report cited the case of paint company Valspar, which lost $20 million, or one-eighth of its annual profit, after its proprietary information was stolen by a Chinese rival. 

Are there national security concerns?
Definitely... For nearly a decade, hackers had access to the computer network of telecommunications company Nortel Networks. If, as suspected, China was behind the breach, it likely gained valuable insight into the internet and telephone systems that government agencies, banks, and other businesses rely on.

What has the U.S. done about this?
Surprisingly little so far. (more)

When foreign countries knocked-off our products, and sucked up our jobs with cheap labor, we had our technology to fall back on. Once they have our technology, we'll be their cheap labor. American Business, please stop the espionage before it's too late. We can help you.