facebook
twitter
rss
account
search
search
 

Hacking said major threat to U.S. economy

Feb. 11, 2013 at 4:06 PM   |   Comments

WASHINGTON, Feb. 11 (UPI) -- Cyberespionage campaigns against the United States represent a massive and sustained threat to the nation's economy, a new intelligence assessment says.

Individuals familiar with the classified report say the National Intelligence Estimate names China as the prime culprit, The Washington Post reported Sunday.

China has denied such allegations. Russia, Israel and France are also considered by the report as among the countries engaged in trying to steal economic secrets, but not on the same scale as China.

Once considered a threat primarily to U.S. military and intelligence agencies, cyberespionage is now seen as a major threat to U.S. industry. In the past five years, hacking has been experienced by a wide range of industries, including energy, finance, information technology, aerospace and automotive.

Outside experts estimate the financial impact has been in the tens of billions of dollars.

The State Department has now made the issue part of its strategic security dialogue with China. Obama administration options include formal protests, expelling diplomatic personnel, imposing travel and visa restrictions and filing complaints with the World Trade Organizations, analysts say.

Some 100 prosecutors are being trained by the Justice Department to bring cases against hackers sponsored by foreign governments.

However, the government cannot file a case on its own. It needs businesses to inform it of cyberbreak-ins, something they are typically reluctant to do.

The White House is expected to issue an executive order this week that calls for voluntary cybersecurity standards for critical computer systems in the private sector and for enhanced sharing of threat information by the government with companies.

Topics: Barack Obama
© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
SpaceX Dragon returns safely from ISS, splashes into Pacfic Ocean SpaceX Dragon returns safely from ISS, splashes into Pacfic Ocean
2
Google exec breaks skydive record with dive from near-space Google exec breaks skydive record with dive from near-space
3
Powerful new microscope sees cell division in real time Powerful new microscope sees cell division in real time
4
Stone tools reveal Ice Age settlement in the Andes Stone tools reveal Ice Age settlement in the Andes
5
Coal-rich Poland wants concessions in EU climate deal Coal-rich Poland wants concessions in EU climate deal
Trending News
Around the Web
x
Feedback