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Question: Why do foreign countries or entities want information from businesses in other countries?

30 Oct 2022,6:27 PM

 

  • Why do foreign countries or entities want information from businesses in other countries?
  • Do you think that physical theft of information (physical take away/stealing) is still taking place (besides cyber-attacks)?
  • Who should be responsible for securing company digital information - Corporate Security or Information Technology (IT) departments?

Expert answer

 

There are many reasons why foreign countries or entities might want information from businesses in other countries. One reason could be to better understand the business landscape in that country so they can make more informed decisions about investing there. Another reason could be to collect intelligence about a particular company or sector that they're interested in. Or, they may simply be seeking general information about a foreign market. Whatever the reason, it's important for businesses to be aware of any regulations or requirements in place in their own country that could impact the release of this type of information.

 

In some cases, businesses may be legally required to provide certain information to foreign governments or entities. For example, many countries have tax laws that require companies to disclose information about their income and assets. Failure to comply with these laws could result in severe penalties.

 

Other times, businesses may voluntarily choose to share information with foreign governments or entities. This could be for a variety of reasons, such as seeking trade opportunities or seeking investment.

 

Whatever the reason, it's important for businesses to be aware of any regulations or requirements in place in their own country that could impact the release of this type of information. Failing to comply with these could result in serious consequences.

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