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Senators Introduce Cybercrime Bill
Mike Sachoff
Staff Writer
2010-03-23
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With the growing cost of cybercrime in America and around the globe, U.S. Senators Kirsten Gillibrand (D-NY) and Orrin Hatch (R-UT) introduced today the "International Cybercrime Reporting and Cooperation Act," new bipartisan legislation that would improve America's leadership and cooperation with other countries to fight cybercrime worldwide.
 | | Senators Introduce Cybercrime Bill |  |
"Cybercrime must be a top priority for our national security," Senator Gillibrand said. "If we're going to protect our networks, our infrastructure, our economy and our families, we have to go after cyber criminals wherever they may be - and it must be an international effort.
"Our new legislation will require the president to provide a global assessment, identify threats from abroad, work with other countries to crack down on their own cyber criminals, and urge the President to cut off U.S. assistance and resources for countries that refuse to take responsibility for cybersecurity. Our legislation will make America safer by getting tough on cybercrime globally, and coordinating with our partners in the international community."
For more than ten years, reports have detailed the increasing vulnerability of the U.S. to cyberattacks. A growing number of international criminal organizations are targeting U. S. citizens, commerce, and information infrastructure, including the Internet, telecommunications networks, financial systems, embedded processors and controllers in industries to steal, exploit, disrupt or destroy information.
A conservative estimate from the Government Accountability Office (GAO) found that in 2005, U.S. businesses lost $67.2 billion as a result of cyberattacks. Since then, attacks have dramatically increased. Earlier this year, hackers in China launched a large, sophisticated attack on Google and other American businesses. The global economy overall lost over $1 trillion in 2008 as a result of cyber attacks, according to studies by McAfee, Inc.
A number of American companies are supporting the Senators' legislation including Cisco, HP, Microsoft, Symantec, PayPal, eBay, McAfee, American Express, Mastercard and Visa, as well as Facebook.
"Microsoft strongly supports the International Cybercrime Reporting and Cooperation Act and applauds Senators Gillibrand and Hatch for their leadership in this area," said Fred Humphries, Managing Director of US Government Affairs, Microsoft Corp.
"This legislation is a great step forward toward accessing the technology capabilities and judicial remedies of foreign countries to combat cybercrime and provide a safer, more trusted and secure Internet."
About the Author:
Mike is a staff writer for WebProNews. Visit WebProNews for the latest ebusiness news.
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