President Obama Gets Serious About Cyber Hackers

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President Obama is Ready to Fight Cyber Hackers

President Obama has recently announced his plan to fight back against cyber hackers. His most recent announcement addresses the notion that we can achieve better results with attacking back hackers as a whole if companies getting hacked would quickly share information about their attacks to prevent future attacks of the same type.

A very long overdue legislation, firstly proposed in 2011, is now part of the top priority in the President’s agenda for 2015.

While lawmakers struggle to keep a balance between the corporate concerns about liability and consumer fears about privacy, the President is standing by a proposal to give law enforcement agencies more power when it comes to conducting investigations and prosecuting cybercrime in the hopes of discouraging the sale of spyware and theft of personal data.

The proposal also includes benefits for corporations and their customers including:

 

  • • Companies would be granted immunity against government and private lawsuits based on cyber threat-related data shared with federal authorities for purposes of investigation.

 

  • • Selling credit card information overseas would be charged as a crime, allowing authorities to prosecute the sale of botnets.

 

  • • Reporting to consumers that their personal information has been compromised within 30 days from the discovery of breach of information.

 

While consumers are aware of recent cyber-attacks on Sony, Home Depot, and Target, among others, the government itself has not been free of such attacks. The U.S. military was recently attacked by people claiming to be allied with Islamic State militants claiming they had hacked social media accounts for the U.S. military command that oversees operations in the Middle East. Although this attack is still under investigations, classified information has not been reported as compromised, said Obama.

The new legislation is supported by House Speaker John Boehner and Senate Majority Leader Mitch McConnell, who agree with President Obama that cyber-security needs to be addressed. The White House will present further details and this legislative movement at a cyber-security summit on Feb. 13, 2015 in Silicon Valley, at Stanford University.

President Obama will address the State of the Union today, January 20, including a legislative proposal for cyber-security, as well as a presentation on a new “Consumer Privacy Bill of Rights”, that will give consumers more say in how companies use their data.

Cyber Hackers are a threat to most businesses, and in this day and age, the threat is ever increasing. As we become more adept at fighting cyber crime, hackers are becoming better and better at what they do. The best way to fight cyber crime? Report any suspicious activity and make sure that you understand if and how you and your company are covered. Click here to learn more about cyber hackers and how you can help protect yourself.