Web Security News

Report says Chinese cyberspies infiltrate U.S. networks

Friday, October 23, 2009

A report released by the U.S.-China Economic and Security Review Commission established by Congress says the Chinese military is ramping up its cyber warfare and espionage capabilities and has infiltrated U.S. networks to steal military secrets.

The report cited an unnamed U.S. company that was hacked by Chinese spies in 2007 for stealing large volumes of data using sophisticated techniques that point to involvement of the Chinese government.

"The case study is absolutely clearly controlled and directed with a specific purpose to get at defense technology in a related group of companies," said Larry Wortzel, vice chairman of the commission, according to the Wall Street Journal. "There's no doubt that that's state-controlled."

The Journal reported that U.S. intelligence agencies estimate $40 billion to $50 billion worth of U.S. intellectual property is stolen each year by hackers from China.

The report brought a rebuke from Chinese diplomats. "The commission has always played up the China threat," said Ma Zhaoxu, a foreign ministry spokesman. "It has arisen out of a Cold War mindset."

A previous report published in March by security researchers concluded that a cyberespionage network called GhostNet was based on servers in mainland China.ADNFCR-1765-ID-19423978-ADNFCR

Related News:

Estonian cyber criminal jailed for targeting web security - 3.12.2010
The author of the Allaple malware strain that targeted local insurance firms and scores of other websites recently received a prison sentence of nearly three years. Arthur Boiko, a 44-year-old man from Estonia, pled not guilty to the charges, but a jury found him guilty after prosecutors claimed he sought revenge against the insurance company that denied his claim.

Small businesses need stronger web security - 3.11.2010
Cyber criminals have increased efforts to target the bank accounts of small businesses because they frequently do not have the web security measures in place that larger companies do, according to David Nelson of the Federal Deposit Insurance Corporation.

UK bankers struggle with online fraud - 3.11.2010
Online banking fraud cost bankers in the UK the equivalent of nearly $90 million in 2009, according business technology website Silicon.com.

Koobface changes as web security professionals prepare attack - 3.11.2010
As web security professionals attempt to take down Koobface, the cyber criminals that designed the malware strain have altered the virus to escape potential elimination, according the Register, a technology news website based in the UK.

Cyber criminals target web security with phony Windows update - 3.11.2010
As more people update from Windows Vista or Windows XP, cyber criminals have developed malware that takes advantage of people's desire to make the move, according to Computer Weekly.

View Related Resources
Or
Watch an Online Demo
Or
Have us call you now