In the increasingly pugnacious cyber espionage war, the US is not only admittedly losing out to countries like China and Russia but the real headline news is, the US is still at a loss on how to protect itself against the massive intellectual property threats on its very turf.
The chairman of the House Intelligence Committee Rep. Mike Rogers told audience at the Intelligence and National Security Alliance (INSA) cyber conference, held on 26 September in Washington DC, that the US is “running out of time” – US government officials have stated that no country engages in cyber espionage as systematically, thoroughly and broadly as China and the theft of critical intellectual property is billing up to US$1 trillion.
The Rogers-Ruppersberger Bill designed to stem the tide is facing resistance at the Senate.
This Bill proposed to offer business liability insurance cover to the business community. In return, the victimized companies would have to share their threat information with the government, who will in turn share that experience with the business world.
(What? Are you kidding me?! Okay, I hear you at the back row).
Need I say more? Find out more about it here.