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                US Report Highlights Economic Threat of Hacking

   U.S. officials say a new government report details the threat hackers
   pose to the nation`s economy, with China a clear leader among countries
   carrying out cyber attacks.
   Officials have described the classified National Intelligence Estimate
   to U.S. media, including The Washington Post, which said late Sunday
   hackers are targeting the energy, finance, information technology,
   aerospace and automotive sectors.
   Some estimates put the cost to the U.S. economy at tens of billions of
   dollars each year. But with some companies reluctant to report when
   they are hacked, the true cost is not known.
   The White House is weighing how to respond, with options including
   possible trade actions and visa restrictions. The Washington Post says
   President Barack Obama is expected to issue an executive order on cyber
   security this week aimed at helping the private sector protect against
   hacking attempts.
   The newspaper says the report also names Russia, Israel and France as
   countries that have used cyber attacks for economic intelligence.
   The Post has reported having its own systems infiltrated by Chinese
   hackers, as have The Wall Street Journal and The New York Times.
   China`s Foreign Ministry denied the accusations last month, calling
   them "baseless" and "irresponsible."
   The U.S. government has been concerned for years about the "significant
   and growing" threat of hackers stealing data for economic gain. A 2011
   report to Congress identified China and Russia as cyber spies stealing
   trade secrets and technological information from U.S. companies,
   research institutions and intelligence services.
   Last year, Congress tried to act. The House of Representatives passed a
   bill to help bolster the nation`s cyber defenses, but a Senate measure
   failed.
   President Obama also urged action, saying, "It would be the height of
   irresponsibility to leave a digital backdoor wide open to our cyber
   adversaries." He said foreign governments and criminals are looking
   into U.S. financial, energy and public safety systems "every day."
   Outgoing Secretary of Defense Leon Panetta issued a strong warning
   about the threat of cyber attacks in a speech in October. He said the
   U.S. military has put $3 billion into cyber security efforts.
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   [1]http://www.voanews.com/content/us-report-highlights-economic-threat-
   of-hacking/1601048.html

References

   1. http://www.voanews.com/content/us-report-highlights-economic-threat-of-hacking/1601048.html