Corporate espionage is a growing problem and a threat to more companies than you probably think! Below I will provide information that every business owner should know.
What is corporate espionage?
Espionage is the practice of obtaining information about an organization that is considered secret and confidential without the permission of the owner of the information. In other words… spy.
Spying involves accessing the location where information is actually stored, such as breaking into an office building to try to track down company methods and tactics, or gaining unauthorized access to a company computer. It also involves contacting the people who know the desired information and trying to get them to spread it slowly.
How dangerous is it?
Corporate Espionage is a serious risk for any business that depends on information. Any ‘spy’ who targets a company is looking for inside information that the company depends on for its success. If that outsider can gain access to that information, then the company no longer has an advantage over the competition, it levels the playing field. To say the least…
Some examples of information often searched for:
o Customer list: any list of current and past customers, their contact information, and what products and services they purchased from you.
o Vendor Agreements: Information that lets others know what kind of agreements you have with your vendors, your relationship with them, and what you are using or planning to use them for.
o Personal Records: Records that indicate spending habits, income, bank balances, and account numbers, commonly called phone numbers, credit card accounts, etc.
o Research Documents – Any research history that can help predict where you plan to take the business in the years to come.
o Prototype Plans: Plans, paperwork, contracts, or actual physical prototypes of a new product or service you plan to offer.
o Some other examples include: patents, pricing strategies, source code, and unique technology and manufacturing operations.
Any of the above information could be very beneficial to the unauthorized person who has stolen it. It can have devastating financial effects on a business, causing it to lose customers and money to its unreliable competitor. The information could also be used for scams, credit card fraud and blackmail.
To the great ruin of the company itself, the security of this coveted information is often an afterthought. Most corporations are developing new technologies faster than they can protect them. Very few companies spend the time and money to implement the necessary hardware, software and services to monitor and protect their information.
How does it happen and how can I combat it?
Corporate espionage can occur in a variety of ways, but basically it is any breach of security at your company. Methods range from hacking, theft, and intimidation, to dumpster diving and impersonation.
Some basic things you can do to protect yourself:
1. Inform employees about ‘Social Engineering Strategies’. Make sure they are familiar with the tactics so they can recognize them when something happens. Establish a procedure for them to follow in case they think they are the target of a social engineering attack.
2. Make sure you have enough physical security in the building. Your office building houses your employees, files, computers, servers, and all of your valuable information and resources. Invest in video surveillance and make sure it is checked frequently.
3. Keep the latest security software on your computers and servers at all times. These are common points of attack for any corporation, so keeping them under lock and key is key.
Despite the digital world we live in, dumpster diving is the most common method used to obtain sensitive data without the data owner knowing. It is a complicated and primitive method, but it is very successful in acquiring trade secrets. But how can that be? Can someone just take your information right out of your trash can? Yes, dumpster diving is disgusting and totally legal. Once you dispose of it on a public street for garbage collection, it’s totally fair game. Dumpster Divers has been successful in obtaining telephone directories, organizational charts, memos, company policy manuals, meeting schedules, systems manuals, login names and passwords, source code, disks and tapes, and much more.
So what can you do?
Use a shredding company! Shred EVERYTHING! Paper prints are no longer your biggest responsibility, CDs, DVDs, hard drives and servers are a huge threat to you if they fall into the wrong hands. Look for a company that has the ability to successfully destroy any and all sensitive matters.
