Wednesday, February 15, 2012

National and Corporate Security Concerns due to Nortel’s Hack

Could corporate espionage be the reason why a billion dollar firm lost its competitive edge and became bankrupt?  Was the lack of perception that this was a significant threat by top executives a reason for not considering a report about the spying to be a material risk, thereby resulting in limited action and disclosure?
These are the two tough questions each chief executive needs to ask of himself after the recent disclosure that hackers spied on Nortel Networks for nearly a decade, according to report Tuesday in the Wall Street Journal, and had access to Nortel's business plans, reports, emails and other documents by stealing passwords from top company executives and installing spyware they controlled remotely.
For the telecommunication industry it raises fears that hackers may have access to information that can enable them identify exploitable product vulnerabilities, leading to security weaknesses within enterprises as well as affecting national security when used by telecommunication providers.

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