According to U.S. cybersecurity analysts, 12 small groups of hackers from China are responsible for more than $1 billion worth of data from companies throughout the nation. These groups have been monitored by McAfee, a prestigious Internet security company, who drew upon information collected over time. Earlier this year, McAfee tracked intrusions into the U.S. energy grid back to China, where the hacker groups were finally identified after years of arduous investigation. Last month, U.S. intelligence officials formally rebuked China for its part in the intrusions, but no other action was…
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U.S. pushes for international legal framework governing cyber crime, insurers to benefit from associated regulations
The issue of cyber security has become so prominent that the U.S. government is now pushing for international laws that will curb the spread of the so-called “anti-security” movement. This malefic movement has had an impact on the global insurance industry in more than just losses. With the threat of cyber crime growing, the industry has had to adapt, drafting new defenses and offering more comprehensive coverage. The federal government holds that insurance is simply not enough and is seeking support from other countries to establish laws that would stop…
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