FBI warns American businesses to stop dealing with Chinese companies

WION New Delhi, Delhi, India Aug 24, 2020, 11.04 PM(IST) Edited By: Palki Sharma

File photo. Photograph:( Zee News Network )

Story highlights

The FBI feels that such tie-ups provide an opportunity for a competing company to obtain restricted information.

The FBI wants American businesses to stop dealing with the Chinese companies. According to the FBI report, Chinese businesses lie, cheat and steal from American businesses.

Counterfeit goods, pirated software, and stolen trade secrets cost the United States well over 200 billion dollars every year.

Now, the FBI is blaming China for this. America's Federal Bureau of Investigation has issued a warning to corporates.  A new FBI report exposes how China has been stealing American innovations targeting every potential source from businesses to even universities.

China steals original ideas through joint ventures between American and Chinese companies.

The FBI feels that such tie-ups provide an opportunity for a competing company to obtain restricted information.

Academic collaborations can be used to gain access to useful scientific research.

China runs talent recruitment programs, through which the country targets scientists, engineers, professionals, foreign government employees and contractors. The aim is to gather foreign research and technology. It is used to target military and civilian programs.

China uses trade shows and conferences as hunting grounds for intelligence.

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The FBI has advised American businesses against working with Chinese companies.

It says the threat posed by Chinese interests is much bigger. Foreign travel can leave US employees vulnerable. The FBI says spies gather information through covert searches of luggage and hotel rooms.

Electronics can be confiscated and Americans workers can be subjected to extensive questioning. Even pushed into compromising situations. All in an effort to steal information.

The FBI now defines China as the world’s principal infringer of intellectual property.

Christopher Wray, FBI director said: "Over the past decade, we've seen economic espionage cases with a link to china increase by approximately 1,300 percent. The stakes could not be higher and the potential economic harm to american businesses and the economy as a whole almost defies calculation."

After losing billions --- the United States is now waking up to China’s theft. China has also been compelling European companies to hand over patents.

According to a survey, one in five firms has been forced to transfer technologies for market access. 

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