Congress hears of growing cyber-espionage against U.S. companies
Contributed by: Email on 06/29/2012 01:53 PM
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Testimony before the U.S. House of Representatives' Homeland Security Committee painted a grim picture about the problem of cyber espionage against U.S. companies and interests.
Government and law enforcement experts testifying before the U.S. House of Representatives' Homeland Security Committee's Subcommittee on Counterterrorism and Intelligence on Thursday painted a grim picture about the problem of economic espionage against U.S. companies, and the role that cyber attacks play in that spying.
Computer enabled spying and espionage has increased the scope and abilities of countries and private interests that wish to illegally obtain U.S. technology, according to testimony by Gregory Wilshusen, Director of Information Security Services at the Government Accountability Office (GAO).
Recent reports of incidents of economic espionage suggest that cyber spying has already had "serious effects on consumers and businesses," Wilshusen told the Homeland Security Committee. "These include the compromise of individuals sensitive personal data such as credit- and debit-card information and the theft of businesses IP and other proprietary information."
While it is difficult to estimate the size of the problem, the consequences of cyber espionage include "identity theft; lower quality counterfeit goods; lost sales or brand value to businesses; and lower overall economic growth and declining international trade," he warned.
China and Russia were singled out as nations that have a national policy of using espionage to achieve strategic and economic goals.
Government and law enforcement experts testifying before the U.S. House of Representatives' Homeland Security Committee's Subcommittee on Counterterrorism and Intelligence on Thursday painted a grim picture about the problem of economic espionage against U.S. companies, and the role that cyber attacks play in that spying.
Computer enabled spying and espionage has increased the scope and abilities of countries and private interests that wish to illegally obtain U.S. technology, according to testimony by Gregory Wilshusen, Director of Information Security Services at the Government Accountability Office (GAO).
Recent reports of incidents of economic espionage suggest that cyber spying has already had "serious effects on consumers and businesses," Wilshusen told the Homeland Security Committee. "These include the compromise of individuals sensitive personal data such as credit- and debit-card information and the theft of businesses IP and other proprietary information."
While it is difficult to estimate the size of the problem, the consequences of cyber espionage include "identity theft; lower quality counterfeit goods; lost sales or brand value to businesses; and lower overall economic growth and declining international trade," he warned.
China and Russia were singled out as nations that have a national policy of using espionage to achieve strategic and economic goals.
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