Recently I read an article published by the American Bankers Association on cybercrime; it surely has heightened my senses to this topic. Cyber-terrorism — cyberattacks – cyber warfare…. These words have become commonplace and the news media can deliver a story about a recent event without any difficulty. It amazes me how cybercrime has advanced to such powerful levels.

I remember being concerned about how easy spyware could enter my laptop, steal or destroy my documents, and make me so frustrated trying to return my system to normal. Now the cyberattacks have evolved to such levels that they can destroy the foundation of entire nations and are targeting the United States (energy, control systems, financial services, telecommunications, transportation, water). I am pleased that President Obama took a major step against these cyber criminals.

Read this excerpt from the American Bankers Association Risk News:

On April 5 President Obama issued an executive order that authorizes the Treasury Department to impose financial sanctions on foreign cyber attackers — both individuals and corporate entities. The order encompasses attackers who seek to disrupt critical infrastructure and steal information. Sanctions may include asset freezes and travel bans.

ABA President and CEO Frank Keating welcomed the order, noting that it “sends a strong signal to cybercriminals and foreign entities that America is committed to fighting this increasing threat. U.S. businesses are committed to working with the government to help protect our critical infrastructure and the economic security of our country.”

Content Source: American Bankers Association Risk News April 6, 2015
Featured Image Source:  “White House from Lawn” by Serge Melki is licensed under CC BY 2.0

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