A harsh warning was issued this Thursday, July 7, at a joint press conference, the FBI and the English MI5, to talk about how the chinese government is using all its technology platforms to steal data from western companies and users.
FBI Director Christopher Wray and MI5 Director General Ken McCallum have spoken at a joint event at MI5 headquarters in London.
“The Chinese government is determined to steal your technology, whatever it is that makes your industry work, and use it to undermine your business and dominate your market,” informs Wray in the speech. The FBI director added that the benefits of keeping a piece of technology confidential can sometimes outweigh those of accessing the Chinese market.
“Maintaining a technological advantage can do more to increase a company’s value than partnering with a Chinese company to sell into that huge Chinese market, only to find the Chinese government and their partner stealing and copying their innovation,” Wray said, adding that it poses “an even more serious threat to Western business than even many sophisticated entrepreneurs realized.”
In their speech, the two allege that the Chinese government is engaged in a “coordinated campaign” to gain access to important technology and to “cheat and steal on a large scale.” They added that the Chinese government’s hacking program dwarfs that of all major countries, and that it has a global network of intelligence agents. The threat means MI5 is running seven times as many investigations into Chinese activity as it was four years ago, while the FBI is opening roughly two new counterintelligence investigations every day, reports The Wall Street Journal.
A spokesman for the Chinese embassy in Washington, Liu Pengyu, denied the accusations, and said to Associated Press in a statement that the country’s government “strongly opposes and combats all forms of cyberattacks” and “will never encourage, support or condone them.”