British businesses have been given a stark warning by MI5 to lock up their secrets to prevent countries like China from stealing them.
Ken McCallum, director-general of MI5, joined the heads of intelligence agencies in America, Canada, Australia and New Zealand to launch a campaign on the threat.
They warned that businesses and organisations like universities need to work to make sure they become secure “before it is too late”.
This comes as the number of MI5 investigations into Chinese activities in Britain is revealed to have risen by seven times since 2020.
Many British tech companies are considered industry leaders, making them targets to cyber attacks from countries like China, Iran and Russia.
The campaign warns that “bad actors” are trying to penetrate IT systems, compromise employees working abroad and place spies in their midst.
Particular focus was placed on Chinese firms, which appear independent but in reality are under the control of the regime.
Universities have also been urged to be vigilant against attempts to steal research for military and commercial benefits.
Appearing at the California summit, Mr McCallum warned of a “sharp rise” in espionage, saying: “The strength of our partnership saves lives in our countries and around the world.
“Across all five of our countries we are seeing a sharp rise in aggressive attempts by other states to steal competitive advantage.
“This contest is particularly acute on emerging technologies; states which lead the way in areas like artificial intelligence, quantum computing and synthetic biology will have the power to shape all our futures.
“We all need to be aware, and respond, before it’s too late. So today we’ve jointly bolstered security across our five nations by offering practical steps organisations can take to keep themselves safe.”
The National Protective Security Authority (NSPA) has produced a ‘secure innovation’ advisory and a free quick guide on how to secure a business.
National Cyber Security Centre CEO, Lindy Cameron said: “The UK has one of the best environments for start-ups working in the field of emerging technology, but we know this can make companies a target for malicious actors.
“It is vital organisations take state and criminal threats seriously and ensure they are effectively managing the risks, including those emanating from cyberspace.
“That’s why, working jointly with the NPSA, we have strengthened our Secure Innovation guidance which will help organisations implement cost-effective measures to stay resilient online.”
