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Enterprises Face Losses From Trade Secret Thefts

By: Jeremy Kirk, IDG News Service

Enterprises are stepping up efforts to counter spying operations that aim to steal their trade secrets, according to a former U.S. Federal Bureau of Investigation agent who now works for Xerox.

Companies such as Wal-Mart, DirecTV and Motorola have in recent years been victimized by employees or others who stole sensitive data, said David Drab, a principal in Xerox's information and content security services section. Drab spent 27 years in the FBI fighting organized crime and economic espionage.

A study by PricewaterhouseCoopers found that economic espionage costs the world's top 1,000 companies £22.4 billion (US$34.7 billion) annually, Drab said. Another study by the Society for Competitive Intelligence Professionals found companies spent $2 billion on spying activities in 2004.
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