ABSTRACT

Cyber Crime: Modernizing Our Legal Framework for the Information Age, Hearing Before the Committee on the Judiciary, Subcommittee on Crime and Terrorism, United States Senate, One Hundred Fourteenth Congress, First Session, July 8, 2015   [open pdf - 1MB]

This is a testimony compilation of the July 8, 2015 hearing "Cyber Crime: Modernizing Our Legal Framework for the Information Age" held before the Senate Committee on the Judiciary. From the testimony of Mr. David Bitkower: "Our growing reliance on computer networks and electronic devices in almost every aspect of our lives has been accompanied by an increasing threat from individuals, organized criminal networks, and nation states that victimize American citizens and businesses. Hackers steal and hold for ransom our most valuable and personal information. They invade our homes by secretly activating webcams. They steal financial information to line their pockets while jeopardizing the financial stability of everyday Americans. A new generation of organized criminals is able to steal the personal information of millions of victims from a computer halfway around the world. These developments also pose a widespread threat to American businesses and the economy. Cyber criminals can orchestrate massive disruptions of businesses and can electronically spirit away trade secrets worth millions of dollars in seconds. Every individual has a stake in protecting computers and computer networks from intrusions and abuse. According to one report, just this past May there were over 44 million new pieces of malicious software -- or 'malware' -- created around the globe. Another report found that in 2014, there were about 24,000 ransomware attacks per day. I'll talk more about ransomware later. A study from last summer estimated that cybercrime costs the global economy approximately $400 billion annually. A study from this past May projects that, by 2019, cybercrime will cost businesses worldwide $2 trillion per year." Statements, letters, and materials submitted for the record include those of the following: David Bitkower, Doug Johnson, Jen Ellis, and Bill Wright.

Publisher:
Date:
2015-07-08
Copyright:
Public Domain
Retrieved From:
Senate Committee on the Judiciary: https://www.judiciary.senate.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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