![]() Trade secrets are the collective name given to these assets since their worth stems from their confidentiality, and their theft causes an immense financial impact on businesses and the economy. ![]() Cybercriminals target businesses within critical sectors, primarily the aerospace and energy sectors, to steal valuable business assets, such as source codes, prototype designs, critical bid information, and customer lists, by hacking computers and evading security measures. Stealing for the profit of another country is considered economic espionage, and only several governments and corporations are taking substantial steps to combat this problem. ![]() Most mainstream media continue addressing ransomware activities and raising awareness around related malicious attacks, but it is not popular to find articles addressing cybercrimes from an economic espionage perspective. organizations, respond to, and mitigate cyberattacks, particularly ransomware attacks. cyber defense agency initiated assistance to prepare the U.S. Under its initiative "Shields Up," the U.S. Cybersecurity and Infrastructure Security Agency (CISA) warned that unprovoked attack by Russia on Ukraine, which has included cyberattacks on the Ukrainian government and critical infrastructure organizations, may have an impact on organizations both within and beyond the region, even though there were no specific or credible threats to the U.S. New Power Party Legislator Chiu Hsien-chih (邱顯智) agreed with the importance of defining “core” technologies and said that establishing a dedicated tribunal might be contradictory to the principle that cases should not be assigned to specific judges.Since the large-scale Russian invasion of Ukraine, which was launched on February 24, 2022, businesses, mainly Silicon Valley companies, became concerned that they may be targeted. Taiwan People’s Party Legislator Chang Chi-lu (張其祿) called for caution when defining “core” technologies to balance national security and industrial development. If people who engage in business involving core technologies travel to China without government approval, they could face fines of up to NT$10 million, according to the amendments.ĭPP Legislator Chiang Yung-chang (江永昌) said that prosecutors sometimes defer prosecution or allow plea bargains when investigating economic espionage cases, as dealing with large enterprises can be challenging. Offenders could face fines of up to NT$2.5 million.Ĭhinese profitseeking enterprises that establish their own offices in Taiwan without approval are prohibited from conducting business in the country, while anyone who allows them to use their name to operate in Taiwan could face up to three years in prison or a fine of NT$15 million. ![]() ![]() Prosecutors could issue an investigation confidentiality protective order, a breach of which could result in up to five years in prison or a fine of NT$1 million, according to the amendments.Ī court could also establish either a dedicated tribunal or a dedicated division to handle cases under the law.Īlso passed yesterday were amendments to the Act Governing Relations Between the People of the Taiwan Area and the Mainland Area (兩岸人民關係條例) forbidding Taiwanese from allowing Chinese-funded businesses to use their names to invest in Taiwan. The Intellectual Property and Commercial Court would hear the first instance of economic espionage cases, and the High Court would hear the first instance of cases that do not involve business secrets or helping hostile foreign forces. If current or retired military personnel, civil servants or public employees are convicted of such a crime, they would forfeit the right to apply for pensions and would be compelled to return amounts already collected, the amendments say. The penalties also apply to three other forms of espionage: reproducing, using or leaking business secrets of core technologies without authorization or beyond their authorized scope failing to delete, destroy or conceal business secrets after being told to do so by their owners and obtaining, using or leaking business secrets despite knowing that they were obtained through criminal means. Meanwhile, the theft of confidential business information would be punishable by a fine of two to 10 times the resulting economic gains, the law states, noting that such profits could be huge. ![]()
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