DOJ Charges Against Chinese Concerns Alert US Businesses To Watch Their Supply Chains by Neil … [+]
By Wangdora92
This week, the United States Department of Justice charged China’s Huawei for racketeering and stealing trade secrets, as well as China’s People’s Liberation Army with computer fraud, wire fraud, and espionage for hacking into Equifax.
These systematic assaults from foreign entities such as China alert US businesses to watch their supply chains. Cybersecurity threats come in many shapes and forms including cloud, hardware, software, third-party data sharing, Internet of Things, contractor, and employee risks.
Over the past few years, Russia wreaked Havoc globally with NotPetya and Havex while China caused its own mischief with the ShadowPad and XcodeGhost virus. North Korea extracted revenge on Sony executives by hacking their emails. Each of these attacks caused billions of dollars in economic as well as reputational damage to these companies.
The United States government provides several resources to American businesses on reducing the threat to their supply chains. The National Institute for Standards and Technology or NIST helps organizations understand and improve their management of cybersecurity risk. Their cybersecurity framework provides guidelines for identifying, protecting, responding, and recovering from threats. The National Counter-Intelligence and Security Center is another good resource covering some of the latest thinking in cybersecurity and supply chain threats.
Commercial companies such as BitSite, Prevalent, and Security Scorecard help organizations understand and monitor the risks to their physical and cyber supply chains. Management consulting firms including Accenture, Deloitte Consulting, KPMG Consulting, and PriceWaterhouseCoopers have dedicated practices and tools to help organizations manage risk.
Huawei fought back in their public statement, “This is political persecution, plain and simple. These charges do not reveal anything new.” Two Department of Department of Justice cases against Chinese concerns in the past week may be a good reminder for US businesses to double down on their supply chains security efforts.
