Data Theft: Implications for Economic and National Security

With the digitisation of services, such as in the case of governance and banking, or the electronic means of conducting commerce or trade, a large amount of data is generated, stored, processed; this also traverses, over digital devices and networks. The incidents of data theft compromise the integrity of this data. Data is at continuous risk from a myriad of threat actors varying from hacktivists to nation states. When the data is classified or confidential, data breaches and thefts may have grave implications for economic and national security, particularly when nation states and market competitors engage in such practices. The growing number of data theft incidents has emerged as a key cybersecurity challenge for policymakers and security practitioners. The article contemplates the common threat actors and their motivational factors. It analyses data theft instances from the last two years with regard to the implications for economic and national security.