Canadian telecommunications business bankrupted by cyber attack?

Synopsis

The spiral of decline at Nortel Networks leading ultimately to its bankruptcy in 2013 is now believed to have been directly caused by a decade-long cyber attack.

Investigations have pointed to a state-sponsored attack resulting in intellectual property being stolen and probably used by a foreign competitor to undercut their prices.

It now acts as a wake-up call to the threats posed by cyber attacks which may have both the protection and deep-pocketed sponsorship of a nation state and which do not respect traditional international borders.

Analysis performed by

Courtenay Brammar

Experienced global enterprise risk and governance professional. Previously Vice President at Morgan Stanley, Deloitte Risk Advisory practitioner and PRMIA steering committee member in both London and New York.

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Companies

  • Nortel Networks Corporation

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  • Detailed cause & effect analysis
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