Stealing the edge: How corporate espionage threatens India’s growth

Abstract

Cyber security is a significant concern for organizations and the top priority for corporation and its leaders has become the protection of information assets. However, due to lack of a proper legislation and inadequate cloud computing strategies of big organizations, the risk pertaining to data privacy and security could possibly increase in India. Competitive Intelligence being a legal and ethical concept is just the exact opposite of Corporate Espionage. The internet has brought forth considerable improvisations in collecting information and data related to anything and anyone. Spies are no longer required to physically break into offices or homes to get hold of sensitive information. While being indulged in the acts of Corporate Espionage, the internet and techniques used are equipped with more advanced ‘attacking’ mode. Cyber-attacks at present are becoming increasingly usual in both public and private areas with systematically organized criminal groups who are offering to conduct intricate and complex hacks to espionage sensitive information of rival corporations. Thus, all this threats and menaces call for a robust and stringent laws pertaining to cyber offenses This paper essentially discusses the threat imposed by cyber-crime upon sensitive information held by the corporations and the need for policy and legislation to mitigate the ill-effects of it.