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infosec-news: [ISN] Cyber Espionage in Georgian Businesses

[ISN] Cyber Espionage in Georgian Businesses

From: InfoSec News <alerts_at_nospam>
Date: Tue Feb 22 2011 - 06:30:14 GMT

By Nino Burjanadze

“The frequency of cyber espionage in the banking sector of Georgia has
increased, parallel to the increase in competition,” said Lasha
Pataraia, Director of the Information Security Studies and Analysis
Centre, an NGO working on analyzing cyber security issues in Georgia.
Because of the low salaries in some of the banks, some employees do
corporate espionage for their own private profit. The banks try not to
divulge these facts, because it damages their reputation.

Based on an anonymous source, with whom The FINANCIAL spoke last week,
KorStandard Bank is one of the victims targeted by cyber spies. Vaghtang
Kuprashvili, head of the IT department of KSB denied the existence of
corporate espionage at the Bank and said that the Bank is implementing
all international standards for cyber security.

As Pataraia explained corporate espionage is an issue for all banks who
have a large client base and turnover. Modern technologies were already
adopted in the banking sector long ago, but they are currently
establishing new technologies of an automatic leading system in the
state sector. Most popular among big companies and state organizations
is the ERP system, which gives the absolute possibility to do massive
automatisation and save human resources.

“Due to the automatisation processes cyber espionage does not only exist
in our country, but is at this time more active than ever. This is a
companion and parallel process of technology development,” noted Lasha


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