Secure Your Trade Secrets from Cyber Espionage

Wednesday August 16, 2017Print Page

Trend Micro Incorporated, a global leader in security software, stated that cyber espionage is the most serious threat concern to global businesses in 2017.Twenty percent of global organizations rank cyber espionage as the most serious threat to their business, with 26% struggling to keep up with the rapidly evolving threat landscape. In addition, one in five U.S. organizations have suffered a cyber espionage-related attack in the last year. Trend Micro’s research covered over 2,400 organizations across the U.S. and Europe.

It is a daunting task for businesses to persist with the demands of not only being current with the requirements of cybersecurity but also to get ahead of the curve.

Trend Micro discovered that:

  • Eight out of ten countries cited the increasing unpredictability of cybercriminals (36%overall) as one of the three biggest challenges to protecting against cyberthreats,
  • A further 29%flagged a lack of understanding of latest threats, and
  • 26% are struggling to keep up with the rapidly evolving landscape and increasing sophistication of cybercriminal activity.[1]

Raimund Genes, chief technology officer for Trend Micro, confirmed, “There’s no silver bullet for cybersecurity; these threats are constantly evolving. While many organizations will be wooed by exciting new security technologies, this Elastoplast approach means they will be quickly bypassed and become obsolete. The increasingly unpredictable tactics used by well-funded cybercriminals and the fast evolving threat landscape highlights the fundamental need for businesses to have a layered defense to greatly reduce the risk.”

Cyber espionage is defined as the act of stealing secrets stored in digital formats or on computer systems and IT networks[2]. ‘Cyber spies’ target trade secrets stored in business networks with a weak cybersecurity infrastructure in place. Small businesses are growing among the victims of cyber espionage as they tend to lack the necessary resources to develop, implement, and maintain a strong cybersecurity defense. Small businesses are also in a multitude of industries and possess intellectual property, production processes, blue prints, and more which are highly desired by competitors and entrepreneur pirates in other countries.

In taking preventative actions against cyber espionage, Villanova University recommends that organizations assess their security and procedures, evaluate risks, and develop a security policy or policies that help address weaknesses. Educating staff members is recommended.  Employees should understand the importance of information security protection, like developing strong passwords, rotating them and keeping company confidential information safe.[3]

Wilson Consulting Group understands these threats and assists several businesses in the pharmaceutical and health care industries to minimize threats and protect their trade secrets. Our Cyber Intelligence and Analytics service detects and prevents cyber threats to these businesses’ information and information assets.

Our Cyber Intelligence and Analytics service:

  • Stop the bad guys
  • Save time and resources
  • Provide excellent customer support
  • Provide returns on investment
  • Have great reviews from our customers
  • Ensure compliance requirements are met

Please contact us here to learn more on how to minimize your threats and protect your trade secrets.

[1]http://www.trendmicro.co.uk

[2]http://lexicon.ft.com/

[3]https://www.villanovau.com/resources/iss/cyber-espionage/#.WZIEaVWGPIV