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Monday, February 11, 2013

US Report Highlights Economic Threat of Hacking

U.S. officials say hackers pose a threat to the nation’s economy and accuse China of carrying out the most cyber-attacks. “Attacks have been on the rise without question,” he said, explaining that, often, even experts can only guy where the attacks are coming from. “As for the vulnerabilities to the financial sector, I would assume that’s correct, but I would suggest that the vulnerabilities are throughout the U.S. economy,” he added.  “The problem is that many people do not like to speak about these things because either they’re unaware they are being attacked or very reluctant to publicize their vulnerabilities.” The Washington Post says President Barack Obama is expected to issue an executive order on cyber security soon, intended to help private companies defend themselves against hacking.

Several U.S. newspapers, including the Post, The Wall Street Journal and The New York Times accuse Chinese hackers of infiltrating their computer systems.

Duncan Clarke of Stanford University, who also chairs BDA — a China-based investment and advisory firm — said that if China is responsible for directing corporate espionage, it would be to help Chinese companies compete with their U.S. rivals. And we have not seen that level of concern in other countries, so the risk is that you actually hurt your own interests by taking too hard a line on this.”

The U.S. government has been concerned for years about the “significant and growing” threat of hackers stealing data for economic gain, and a report in The Wall Street Journal says businesses have long been well aware of the problem.  So far, Washington’s response has included everything from giving written guidance to businesses on intellectual property crimes, to setting up a toll-free number to report problems, to unsuccessful efforts to get Congress to pass legislation on the issue.

Link: http://www.voanews.com/content/us-report-highlights-economic-threat-of-hacking/1601067.html

Posted on 02/11
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