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                     US Moves to Counter Cyber Theft Threat

   by VOA News

   The United States is unveiling a new strategy to counter the "dramatic
   increase" in the threat posed by hackers and cyber spies.
   U.S. Attorney General Eric Holder helped outlined the new approach at a
   news conference Wednesday, warning ever improving technology is making
   it easier for individuals and countries to strike at the U.S.
   "All of these examples represent a significant and steadily increasing
   threat to America's economy and national security interests," said
   Holder.
   Holder said the Justice Department is fighting back aggressively,
   working with various states and government agencies to track down and
   prosecute those engaging in cyber theft and cyber espionage.  And he
   called for increased cooperation with private companies.
   "A single trade secret can be worth millions - or even billions - of
   dollars," he said. "Trade secret theft can require companies to lay off
   employees, close factories, to lose sales and profits, to experience a
   decline in competitive position and advantage, or even to go out of
   business."
   The new strategy also calls for the use of fines and trade actions
   against individuals or countries targeting U.S. trade secrets.  Some
   U.S. lawmakers estimate American companies lost more $300 billion last
   year to trade secret thefts, much of it due to hacking by Chinese cyber
   spies.
   It comes one day after a U.S.-based cyber security firm released a
   report linking a secret Chinese military unit to years of cyber attacks
   against U.S. companies.  Mandiant said the group carried out nearly 150
   attacks on a wide range of mostly U.S. targets since 2006.
   China's defense ministry on Wednesday criticized the Mandiant report,
   saying it "is not based on facts" and "lacks technical proof."
   U.S. trade officials have said trade secret theft - and cyber espionage
   - in China has already caused some companies to leave and relocate
   their operations in the U.S.
   Officials from General Electric and American Superconductor joined U.S.
   government officials at Wednesday's announcement in Washington.
   In his recent State of the Union address, President Obama did not
   mention China, but said America must face the "rapidly growing threat
   from cyber attacks" from foreign countries.  He said the U.S. cannot
   look back years from now and "wonder why we did nothing in the face of
   real threats to our security and our economy."
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   t/1607677.html

References

   1. http://www.voanews.com/content/us-moves-to-counter-cyber-theft-threat/1607677.html