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PR: Cybercriminals now target intellectual property

Only 30% of companies report all data breaches

By Other Sources | Updated on March 31, 2011

SANTA CLARA, Calif. & MCLEAN, Va.–(BUSINESS WIRE)–McAfee and Science Applications International Corporation (SAIC) [NYSE:SAI] today announced findings from a global study on the security of information economies. In the study, “Underground Economies: Intellectual Capital and Sensitive Corporate Data Now the Latest Cybercrime Currency,” security experts and senior IT decision makers illustrate how cybercriminals have made the shift from stealing personal information, to targeting the corporate intellectual capital of some of the most well-known global organizations. Cybercriminals understand there is greater value in selling a corporations’ proprietary information and trade secrets which have little to no protection making intellectual capital their new currency of choice.

The cyber underground economy is making its money on the theft of corporate intellectual capital which includes trade secrets, marketing plans, research and development findings and even source code. McAfee and SAIC collaborated with Vanson Bourne to survey more than 1,000 senior IT decision makers in the U.S., U.K., Japan, China, India, Brazil and the Middle East. The study is a follow up to a report released in 2008 called “Unsecured Economies.” The new study reveals the changes in attitudes and perceptions of intellectual property protection in the last two years. The findings revealed which countries were perceived as the least safe to store corporate data, the rate at which organizations are experiencing breaches and the response rate to prevent or remediate data breaches.

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