Security Technology Executive

MAY-JUN 2018

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16 SECURIT Y TECHNOLOGY E XECUTIVE • May/June 2018 • www. SecurityInfoWatch.com I n the 2016 movie, "Snowden" former National Security Agency intelligence contractor Edward Snowden uncovers massive amounts of illegally obtained data assembled to track digital com- munications from foreign gov- ernments, terrorist groups and ordinary Americans. For many, the biographical political thriller was a wakeup call. For those in risk management and informa- tion security, it reaffirmed what we prob- ably already knew or suspected — that many different entities around the globe know quite a bit about where we work and live and our daily habits. For corporate businesses, information protection is critical and the risks and threats keep changing. Now, the theft of information and intelligence is increas- ingly gathered on U.S. companies from foreign entities that use the results for a variety of different types of what is now called economic espionage. In a nationwide campaign launched by the Federal Bureau of Investigation (FBI) aimed at educating business and secrets and to download approximately 160 original batch tickets, or secret for- mulas, for paints and coatings, stated an FBI press release. Trade Secret Theft and Competitive Resource Compromise There have also been cases of trade secret theft which included dumpster diving for intellectual property such as discarded prototypes. In one case, the FBI said Chinese nationals were caught digging in cornfields in Iowa in search of seeds developed by a U.S. company for pest and drought resistance. While the theft of corn seeds seems inconsequential on its surface, the company that developed them spent tens of millions of dollars on technology and research to come up with its formula. Economic espionage and its players circumvent normal costly research and development by copying methods of production or other processes. In one example given by the FBI, spies targeted the manufacturers of sprinkler heads Economic Espionage and the Growing Case for Corporate Counterintelligence Expanding profiles of 'actors' points to new global risk in information protection, cybersecurity By John Slatter y industry leaders about the growing threat — and mounting losses — of economic espionage, Andy Ubel, the chief intellectual property counsel of Valspar Corp. stated: "My company had firsthand experience dealing with an economic espionage case." Ubel was included in the campaign and corre- sponding video, The Company Man: Protecting America's Secrets. The video, created by the FBI in collaboration with the National Counterintelligence and Security Center (NCSC), is based on an actual case involving the attempted theft of trade secrets from the U.S. com- pany by a foreign competitor. According to the Chicago Division of the FBI, a former chemist for Valspar's architectural coatings group pleaded guilty in 2010 to theft of trade secrets, admitting he stole formulas and other proprietary information valued up to $20 million as he prepared to go to work for an overseas competitor. He confessed using his access to Valspar's secure internal computer network to enter databases containing trade COVER STORY

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