U.S. tech companies report big profits on Chinese data leak
Business Insider UK (US) title Chinese companies report massive profits on U.N. data leak: WSJ article Business Insights (AU) title China’s GDP is growing by 6% per year but there are still huge issues article Business Insight (AU), Sydney (AU): Chinese companies have been losing money on data leaks that could threaten their economic future, with the U.K. government saying that a $7.6 billion leak of data from the U,N.
World Food Programme could cause $100 billion in economic losses.
China’s government has repeatedly warned of economic and social repercussions for foreign companies.
The Chinese government has warned the World Food Program (WFP) to stop leaking the information.
In a letter to the agency, WFP director-general Luis Maria Rodriguez said the information would cause severe damage to WFP’s capacity to deliver vital food assistance to millions of people.
He said the data could also damage its international reputation and could have a material impact on the competitiveness of U.Y.S.-based companies.
The U.NAIDS agency has warned of the risk of data breaches that could have serious economic and political consequences for the United States and its allies, which are also under attack from the Chinese.
“The risks posed by the WFP leak have been assessed by the UNAIDS in detail and the agency has taken the necessary steps to protect sensitive data,” Rodriguez said.
Rodriguez also called on China to immediately end the breach, as well as to disclose any financial losses and to compensate the affected organizations.
The Chinese Foreign Ministry said in a statement on Thursday that it was working to provide WFP with adequate financial compensation and that WFP would hold a special meeting on the matter in the coming days.
The Foreign Ministry added that China had already been cooperating with the World Health Organization to investigate the breach.
The letter from the United Nations secretary-general, Antonio Guterres, said the WFG breach had affected 2.5 million people in developing countries, including over 1.3 million in China.
A U.H.O. spokesperson said the UH.
L.O., the World Humanitarian Law Organization, would work with China to investigate and to report on the WFO leak.
China’s Foreign Ministry did not respond to a request for comment.WFP’s Director-General of Mission, Maria Lluis Moya, said in the letter that WFO would have to hold a public hearing on the UFO leak to investigate whether there were breaches in the WFOP database and to take action.
Moya said the leaked information had been released by foreign companies, including from the WTFO, and was available to the Wfop and WFP, who were responsible for the protection of the data.
She said the leaks affected the UFA’s capacity and capacity to make informed decisions.
Moyas letter did not address the possibility that the WFSO may have released the data for the sake of a profit.
China has said the breach was a result of the WFUOP using its access to WFOO’s data to obtain information from a third party.