Wednesday, February 20, 2013

Obama administration reportedly considering fines, trade penalties for cybertheft


The White House is reportedly considering fines and other trade penalties against China or any other country guilty of cyberattacks amid evidence of an unrelenting cyber espionage campaign linked to the Chinese government.
The Associated Press reported Wednesday that the actions are being considered as part of the Obama administration's response to a report that claimed the Chinese Army is behind a series of cyberattacks on U.S. companies.
Officials familiar with the administration's plans spoke on condition of anonymity because they were not authorized to speak publicly about the threatened action.
The Chinese government denies being involved in the cyberattacks cited in a cybersecurity firm's analysis of breaches that compromised more than 140 companies. On Wednesday, China's Defense Ministry called the report deeply flawed.
Mandiant, a Virginia-based cybersecurity firm, released a torrent of details Monday that tied a secret Chinese military unit in Shanghai to years of cyberattacks against U.S. companies. Mandiant concluded that the breaches can be linked to the People's Liberation Army's Unit 61398.


Read more: http://www.foxnews.com/politics/2013/02/20/obama-administration-developing-penalties-for-cybertheft/?test=latestnews#ixzz2LT5Lx6ZM

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