CCTV cameras, Chinese spies and an unusual delegation
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For instance, the 2016 acquisition of Securecorp was not subject to approval by the Foreign Investment Review Board as it was valued at less than $261 million. That threshold remains today, but since that time, awareness of IP theft and data hacking has exploded.
The head of FIRB, David Irvine, has said he will have a much greater focus on “data protection” in foreign acquisitions.
The MSS has overseen a surge in cyber attacks on Australian companies over the past year in breach of an agreement between Canberra and Beijing to not steal eachothers commercial secrets. In addition internet traffic heading for Australia was diverted via the mainland over a six day period last year, in what some experts believe was an attempt to steal data.’
Australia has largely stayed silent on what one intelligence official called a “a constant, significant effort to steal our intellectual property”, due to fears of sabotaging the $116 billion trade relationship with Beijing.
In contrast, the US, which is far less dependant on Chinese trade and has much more leverage over Beijing than Australia, has been far less restrained. A former director of the National Security Agency, Keith Alexander, has described the Chinese cyber campaign as the “greatest transfer of wealth in history”.
Article source: https://www.smh.com.au/national/nsw/search-for-alleged-train-upskirter-at-sydney-train-station-20181011-p5096l.html?ref=rss&utm_medium=rss&utm_source=rss_feed
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