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Taking Action for America: Protecting U.S. Technology Assets with Effective Cybersecurity

Taking Action for America: Protecting U.S. Technology Assets with Effective Cybersecurity

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Published by Business Roundtable

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Published by: Business Roundtable on Mar 23, 2012
Copyright:Attribution Non-commercial


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Business Roundtable32
Fast Facts
The World Economic Forum calls threats tocybersecurity one of the top five global risksto watch, citing “the prevalence of cyber theftand the little understood area of all-out cyberwarfare.”
According to a broad investigation of databreaches in 2011, 92 percent of all breacheswere caused by “external agents,” and organizedcrime was responsible for 58 percent of thosebreaches by external agents.
The Internet Crime Complaint Center,a partnership of the Federal Bureau ofInvestigation and the National White CollarCrime Center, reports that complaints of online crimes increased by more than 22 percent from 2008 to2009. Moreover, the costs of these online crimes more than doubled, increasing from $265 million in 2008 tonearly $560 million in 2009.
Cybercrime incidents continue to increase.
Incidents Reported to US-CERT
 Source: GAO analysis of US-CERT data
With the spread of information and telecommunications technologiesacross the economy, the daily operations and long-term value ofmost economic enterprises in America now depend on the capabilitiesand security of their information systems. Moreover, the capacitiesand security of these systems have become critical elements of U.S.technological and economic leadership. As strategic economic assets,these systems must be protected. The government has a prominentrole to play in this security realm. Unfortunately, this role is currentlyfragmented across many departments and agencies, as well as dozens ofcongressional committees and subcommittees, all claiming jurisdiction —and often lead status as well.In addition, neither the government nor the private sector currentlyhas the necessary information and analytic tools to assess and defeat the most serious threats to the cybersecurity ofAmerican companies. Meeting this challenge will require robust, collaborative public-private partnerships, which canrespond to a rapidly changing threat environment for privately owned and operated information assets.
“Safeguarding America’sstrategic information systems,
 most of which are privately owned and operated, is
‘missioncritical’ for U.S. business andgovernment.”
— Ajay Banga, President and CEO,MasterCard Worldwide,and Chair, Business RoundtableInformation and Technology Committee

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