Business Espionage, also known as economic spying, corporate espionage or industrial espionage is a sort of worldwide espionage conducted not only for national security but for commercial interests as well. The primary targets of such espionage are those companies, organisations and individuals that deal with our money. Today it has become one of the most lucrative business opportunities as it involves huge amounts of money that can be stolen very easily. This article highlights on the various types of Economic Espionage and the importance of Business Espionage in today’s growing world.
Economic espionage has become a lucrative business opportunity especially for people who have the intelligence to understand the latest trends and then proceed to implement the same in their respective fields of work. One such field in which business spying has flourished recently is in the realm of finance and insurance. It is not only individuals who indulge in such activities, but even corporate organisations are now taking advantage of these external threats. Companies are using these business spying tools to get information about their competitors, suppliers and even employees.
There are several other forms of business espionage today. One of them is industrial espionage, which is a type of spying used to gather information about the latest technologies and techniques that corporations are using. This could be used by companies to come up with products that will be competitive enough to outsell the existing products of their competitors. Another form of industrial espionage is political or economical warfare which is used to gather information to use against an individual, government or organisation. Political Espionage could be used for example to sabotage opponents, journalists, activists and even opposition members.
Some of the methods used in corporate espionage are bugging, planting bugs and tapping telephones. However, it is difficult to prove that such actions constitute illegal corporate behavior. Economic espionage on the other hand may involve gathering information for the purpose of trade secrets. The protection of trade secrets is important, as this prevents the competitors of a company from using the information for their own advantage. Businesses may also use economic espionage against suppliers when the cost of supplies are kept artificially high. Some corporations also use spies to obtain information on the businesses of their suppliers.
There are many companies around the world who specialise in providing surveillance and other secret services. Businesses today are increasingly putting their confidential data online in order to protect themselves from cyber criminals and hackers. Business espionage is therefore an ever present threat to businesses because it involves using deception and devious strategies. Corporate spies and their activities can have a significant impact on the competitiveness and market leadership of companies. Economic Espionage, political spying and corporate sabotage are some of the major threats faced by businesses due to their involvement in economic and other confidential data.
Companies have to ensure that all confidential information is handled in the right way and all data stored securely. This is in order to protect them from threats such as industrial espionage and business sabotage. Companies that do not safeguard their business data may find that they are vulnerable to sabotage and espionage. It may also expose them to data thieves who may steal company confidential information or even use it for their own purposes. Therefore, companies have to put in place systems and procedures to prevent any kind of confidential and sensitive information from getting into the wrong hands.