Global Impact of Cyber Espionage
Cyber espionage is becoming a grave threat to national security, particularly when carried out and orchestrated by national governments. The majority of offenders are still at large because extradition agreements between nations are lacking, and it is impossible to enforce international law on this matter, despite a wave of indictments and laws meant to stop such conduct.
With the increasing expertise of hackers and cybercriminals, this problem creates the potential for a well-planned and sophisticated attack that takes down a variety of present-day services, such as the functioning of the financial markets, the energy system, and important elections.
What is Cyber Espionage?
Cyber Espionage is the trade secrets, confidential information, and other intellectual property (IP) that are sold for profit or used by the attacker to gain a competitive edge is its main purpose. Sometimes the only goal of the breach is to damage the victim’s image by disclosing personal data or suspicious company activities.
As a form of cyberterrorism or cyberwarfare, or in collaboration with military activities attacks carried out, may all be motivated by financial gain. When it is part of a larger military or political effort, cyber espionage may have fatal consequences as well as damage public services and infrastructure.