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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