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China Continues to Steal U.S. Trade Secrets Despite Agreement

Following a series of massive cyber security attacks, including the theft of trade secrets from several U.S. companies and the personal information of more than 4 million U.S. federal employees, the relationship between China and the U.S. is a fragile one at best.

In an attempt to quell the tension and guard against espionage, President Obama and China’s President Xi Jinping announced an agreement on Sept. 25 that neither nation would support “cyber-enabled theft of intellectual property, including trade secrets or other confidential business information, with the intent of providing competitive advantages to companies or commercial sectors.”

In terms of the dialogue between nations, this was a positive development. However, China’s theft of intellectual property theft and cyber espionage isn’t likely to stop any time soon..

According to a report from CrowdStrike, Chinese hacking groups are still very much active. There’s been significant hacking activity targeting technology and pharmaceutical firms, and the purpose is most likely to steal intellectual property data. The CrowdStrike report indicates a high level of confidence that these intrusions are associated with the same Chinese hacking groups that have been active for years.

It is hard to tell whether the intrusions detected after the Sept. 25 agreement suggest a failure of that agreement, or if there’s a lag in stopping the hacking initiatives across the fragmented Chinese hacking groups. However, what is clear is that businesses should not let their guard down when it comes to their defense against international cyber espionage activities.

To effectively counter data theft from foreign actors, many organizations find they need more than the traditional SIEM model of detection and reporting. Implementing integrated security operations centers and installing knowledge management solutions helps keep threat information organized across systems and hone in on the greatest risks to their assets.

Lunarline develops and manages sophisticated monitoring and intelligence solutions that keep organization’s intellectual property out of the hands of international hackers. With intuitive, tactical intelligence software, like Ground Station, and cost-saving, efficient managed security services, we have options for organizations of any size.

For more information about Lunarline and our cyber security solutions, visit Lunarline.com or contact us today.

 

 

About Spence Witten

Spence has somehow survived ten years at start-ups and small businesses without suffering a (major) nervous breakdown. As Lunarline's Director of Federal Sales, Spence actually loves working on proposals. If there were any doubt, this is proof that he is in fact certifiably insane. While his title says "Sales" Lunarline doesn't let him off that easy. We make him do real work, too. Luckily he's a recognized subject matter expert in security policy and loves helping clients navigate their way around tricky security compliance standards. He's also been known to lead a software development initiative or two, though that pretty much always ends poorly for everyone involved. He can be reached at spence.witten@lunarline.com.