Economic Espionage and Cybercrime: Evidence and Strategy

Date: 
01/01/2017 to 31/12/2022

Each year, criminals steal an estimated £280 Billion of secret information. These crimes are hidden, with the perpetrators potentially thousands of miles away. Where does this crime happen? In the cyber world. Cyber criminals target valuable company assets, as they hack computers and bypass security systems to steal confidential business information, prototype designs, strategic bid information and customer lists. These assets are collectively known as trade secrets, as they derive their value from their secrecy. When this theft is done to benefit foreign countries, it is known as economic espionage. Concerned governments and companies are effecting important changes to combat this problem. Yet, despite the huge economic impact of these thefts, very little is known about them. This research seeks to address this lack of knowledge by investigating data on the theft of trade secrets to understand their economic impact. Using a unique source of data, this research examines what is actually happening in cybercrime. Analysis of information from court cases generates a systematic understanding of what is stolen, who the criminals are, and how this affects victims and the economy as a whole. By definition, the stolen trade secrets are secret, and therefore very difficult to investigate. This project uses the rare insights and information found in court cases to tease out a better understanding of this cybercrime. Over the course of this project, a team of researchers will collect and analyse court data. The researchers will use statistical and other analytical techniques to create a robust understanding of trade secret theft and its implications. These findings will be publicised using conferences, seminars, academic papers and social media, so that groups and individuals interested in these topics can engage with this project and the research team. This research will benefit businesses, policy makers, researchers and the general public. Businesses will hve a better understanding of the value of their trade secrets and how best to protect them. Policy makers will be able to develop better policy as the project will generate evidence to ground economic insights and objective analysis into action. These improved policies, which create mechanisms to protect assets, will benefit the economy as a whole, as law and policy will be better tailored to the actual, as opposed to our current theoretical, situation. Researchers and innovators, from the fashion designer working on their next collection, to the aerospace engineer developing a new aeroplane, will be able to better protect their valuable prototypes, software programs and other trade secrets. Researchers who focus on cyber security and trade secrets themselves, will have improved insights leading to better cyber security systems designs, data to test social policy and estimates of the value of trade secrets. Legal scholars will have access to a rich source of information to combine empirical analysis with theoretical approaches. Finally, the general public will benefit from enhanced security and improved policy environment. Improved cyber security means better protection of personal data. The policies informed by this research will encourage innovation. Innovation improves lives, as we enjoy new fashions, advanced aeroplanes and new medicines. However, one group is not likely to benefit: the would-be thieves and corporate spies who target trade secrets.

Week: 
Sunday, 1 January, 2017 to Saturday, 31 December, 2022

Project type:

News

Pilots for the European Cybersecurity Competence Networks: how can your SME benefit? - Cyberwatching.eu 6th Webinar -

The four pilot projects involved in the development of the European Cybersecurity Competence Network will present their plans and upcoming tools and services for SMEs in the Cyberwatching.eu webinar on the 2nd of April, 10:00 AM CEST

REGISTER NOW!

 

Future Events

Cyber Insurance and its Contribution to Cyber Risk Mitigation - Leiden March 25-29
25/03/2019 to 29/03/2019
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The rise in both the scale and severity of recent cyberattacks demands new thinking about cybersecurity risk and the mitigation and transfer of that risk. Cyber insurance is one potential way to manage risk by transferring damage liability, but the cyber insurance market is immature and the understanding and actuarial knowledge of cyber-risk is currently underdeveloped.

e-SIDES workshop 2019
02/04/2019
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e-SIDES workshop: Towards Value-Centric Big Data: Connect People, Processes and Technology

BRUSSELS

2 April 2019

10am to 4pm

 

e-SIDES is a research project funded by European Commission H2020 Programme that deals with the ethical, legal, social and economic implications of privacy-preserving technologies in different big data context.