The indictment of five Chinese military officers on 31 counts of computer hacking, economic espionage and other offenses against five U.S. companies and a U.S. union has served as a wake-up call to business leaders worldwide and roiled political relations between the U.S. and China.
As reported earlier, “In the first-ever prosecution of state actors over cyber-espionage, a federal grand jury indicted [five military hackers] on charges that they broke into U.S. computers to benefit Chinese state-owned companies, leading to job losses in the United States in steel, solar and other industries.”
If proven, the hacks will be added to a growing list of industrial cybersecurity breaches described in this slideshow. At risk is the theft of intellectual property, price information and trade negotiation tactics, as well as the possibility of hackers gaining control of company facilities.
A May 19 report in the Wall Street Journal reports that further cybersecurity revelations are likely:
“U.S. officials said other cases relating to China are being prepared. In addition, alleged hackers in Russia are likely to be charged soon, according to people familiar with the government's investigations. U.S. agencies have also been investigating incidents with possible ties to Iran and Syria, these people say.”
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