News you may have missed #0055

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News you may have missed #0031

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German security group sees rise in industrial, commercial spying

By JOSEPH FITSANAKIS | intelNews.org |
A major German corporate security group has echoed recent warnings by the German government that foreign industrial and commercial espionage in Germany is on the increase. Last week, the general manager of the German Association for Security in Industry and Commerce (ASW), Dr. Berthold Stoppelkamp, told German newspaper Mitteldeutsche Zeitung that the targeting of German research and commercial enterprises by mainly Chinese and Russian agents is so extensive that it usually costs the German economy over €20 billion per year, and it may be costing as high as €50 billion per year since 2007. Dr. Stoppelkamp said that, although these covert activities are government-managed, they aim to assist individual Chinese or Russian firms competing against German companies for international contracts. Read more of this post

Corporate intelligence firms seeing business boom

Fortune magazine reports that corporate intelligence firms, such as Control Risks in London and Kroll in New York, represent a sector of the economy that “stand[s] to gain from the financial crisis”. In fact, such “specialized consultancy” firms, largely staffed by former MI6 and CIA agents, are already “seeing a dramatic uptick in business from a surge of banks, private equity firms, and hedge funds that need to make sure those pesky multimillion-dollar investments they made when times were good will hold up”. Read more of this post