It has been recently reported that trade secrets belonging to a number of Norwegian companies are being traded on deep web.
The Deep Web is a section of the World Wide Web that contains information that a normal search engine like Google cannot find.
According to Ludwig Sandell, the Dignato AS general manager, cyber criminals use dark net markets to buy and sell trade secrets with no consequences whatsoever.
He noted that a lot of companies could easily collapse if these information land in the wrong hands.
Lately, due to the rampant security breaches by cyber criminals, coming across trade secrets on deep web is not surprising anymore.
In most companies nowadays, some third party service providers are entrusted with sensitive data like trade secrets.
However, these service providers, more often than not, do not handle the information with great security.
Lately, a number of Norwegian companies have had their databases hacked by cyber criminals. This has led to a number of their trade secrets leaked and are currently being traded on dark net markets.
According to reliable sources, one such Norwegian company that has had its trade secrets leaked on the deep web is Statoil. Statoil launched a wind power project whose data was reported stolen and is being sold on the dark web.
The data was stored on a memory stick. The possibilities were that the memory stick could have either been lost or stolen and is now used to make money on underground marketplaces on deep web.
The way such sensitive information such as trade secrets is handled or stored by these companies, also contribute to them being easily hacked and their data leaked on deep web.
According to a report done by a security firm in Norway, cyber crimes and industry espionages happen, but only less than 10% of these security breaches get reported to the law enforcement agencies.
This is why the companies themselves are partly to blame for the security breaches.
Even though cyber crimes do happen in Norway and the authorities arrest these criminals, only a few people know what really takes place at the law enforcement agencies.
Cybercriminals selling this information on deep web are quite insensitive to the damage caused to the industries or companies.
Sandell commented that majority of Norwegian companies and other big companies generally have given up on making follow ups regarding how their vital information is handled.
This makes it even much easier for other employees to steal valuable data or help cybercriminals have access to the information, which ends up on the deep web.
The Norwegian company, Statoil, is just but one of the many companies whose valuable data was leaked and being traded on marketplaces on deep web.
Norwegian trade secrets are the hottest new commodity on the deep web nowadays. How the data was stolen remains unverified.
In conclusion, cyber criminals and hackers target most companies’ databases to access trade secrets concerning their products and services.
This information is then sold on the dark net markets. Corrupt or simply careless company employees have made it easy for these breaches that can be fatal to the existence of companies who fall victim to security breaches.