By Michael Ruiz. July 24, 2020
Weeks after a cybersecurity firm uncovered backdoor malware embedded in mandatory Chinese tax software, the FBI is reportedly warning U.S. companies doing business in China.
The software imposes a major security risk on victim companies – requiring them to use one of only two approved programs to pay their taxes – both of which have been found embedded with vulnerabilities, according to Trustwave, the cybersecurity firm.
Due to the comprimised security issues, the FBI sent out a warning Thursday to companies in the health care, chemical and finance industries, the technology news outlet ZDNet reported.
Quck summary. In order to do business in China, you are legally required to run certain specific software programs in order to pay Chinese taxes. This software is infected with malware, which installs backdoors into the computer, granting access to all of its files and all of its network connections. The data is being sent to unknown servers in China.
Tell me again, why companies continue to think it's a good idea to conduct business in China? You get cheap labor and the potential for Chinese sales in excahge for what? The Chinese government stealing all of your confidential data, including your trade secrets and financial information. Can anyone honestly claim that this is an acceptable cost?
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