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What Is Hacking Cost US Economy Millions?

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Hacking could cost U.S Economy Millions “Beginning in 2000, Chinese hackers began spying on Nortel Networks (a telecommunications and data networking equipment manufacturer), breaking into executives' computers to access business plans, reports, emails and other documents (Hackers Cost U.S Economy up to 500,000 Huffington Post.com)" China is one of the biggest offenders when it comes to using modern technology and using it to hack major U.S companies to gain knowledge of new products or ideas. Once the information is gained they then use it to produce said product at a lower cost or offering add on parts for older products, causing many companies to go bankrupt such as Nortel Networks (who filed for bankruptcy in 2009 ). But China isn’t the …show more content…

retail stores more than doubled from 2013 to an annual average of $8.6 million per company in 2014. The annual average cost per company of successful cyber attacks increased to $20.8 million in financial services, $14.5 million in the technology sector, and $12.7 million in communications industries.”(Riley Walters – The Heritage Foundation). Typically hackers will sneak into a system, attach their program to the host network and turn them into “Slave Networks” allowing the hacker to do as he/she …show more content…

retail stores more than doubled from 2013 to an annual average of $8.6 million per company in 2014. The annual average cost per company of successful cyber attacks increased to $20.8 million in financial services, $14.5 million in the technology sector, and $12.7 million in communications industries.”(Riley Walters – The Heritage Foundation). Typically hackers will sneak into a system, attach their program to the host network and turn them into “Slave Networks” allowing the hacker to do as he/she

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In this leaflets I will be talking about how the network can be attacked, One way the network can be attacked is DOS and what this stands for is Denial of service, this attacks the network by overflowing the network with useless traffic, the result of this overflowing cause the network to slow down significantly, and even can crash the network if it overflows too much. The damage that is can do to a business is huge they can lose a lot of money to fix the issue. The weird thing is that the hacker does not even benefit from this attack. The second way the network can be attacked is backdoor this attack is basically when you can access a computer program that side-steps security, the hackers use backdoors that they made or backdoors they found,

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Total and ultimate safety requires no freedom. Despite these changes, according to the Breakthrough Institute, the decreased privacy of the act has only foiled two plots on the United States. However, a number of attacks have been prevented through “old-fashioned” methods of undercover agents or foreign agency tips. From 2002 until 2012, the estimated homeland security spending of the USA was $690 billion, and $100 billion for the cost of airport delays. $443.5 billion was spent for operations in Afghanistan, where over 1,500 lives were lost and more than 15,000 injured.

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Our country is the highest spender of defense spending. (Peterson Found., 2015, para. 1) The major focus of the FBI is counterterrorism it 's too much focus on terrorism because massive terrorism events don 't happen very often, yet they do cause huge damage.

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The NSA spying at one time used to be economically beneficial but as time passed the economy of the NSA has decreased while the price of the NSA

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If spent correctly, this should enable the United States to continue to maintain its competitive edge against strategic competitors. However, even with the increase in the defense share of federal R&D, the overall federal R&D budget declines because the nondefense portion is slashed by 19.2 percent. Similarly, while the FY 2019 budget increases total cyber funding for the Pentagon by 4.2 percent to $8.5 billion, it cuts the R&D budget of the National Institute of Standards and Technology, which creates cybersecurity standards for the government and private sector, by 18 percent. Reducing R&D and cyber funding for nondefense agencies in order to allow the government to pay for increases in the defense budget will not enhance America’s overall security. Meanwhile, the budget asks for $9.2 billion for the Missile Defense Agency an increase that is about $1.9 billion more than what was previously planned even though these programs are so plagued with problems that there are serious doubts as to their effectiveness.

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671 Words | 3 Pages

The United States has come under attack of a sophisticated enemy, one that has proven the capability to render the economic system useless. What will come next is a coordinated response among the Intelligence Community in order to determine who committed these attacks, what level of damage was incurred by the United States, what should be told to the public, as well as possibility of a response by the United States on the perpetrators. What will be encouraged across the intelligence community, is the sharing of information on the potential intrusions not only on the economic infrastructure but also potential intrusions and exploitation from these attacks on economic information, i.e. trade secrets, banking information,

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Robot. Elliot's hacking activities often involve gaining unauthorized access to computer systems, which is illegal under the Computer Fraud and Abuse Act (CFAA). The CFAA is a federal law that criminalizes various forms of computer-related offenses, including unauthorized access to computer systems. Elliot's hacking activities could be prosecuted under this law, which carries significant penalties, including imprisonment and fines.

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This would certainly have a rippling effect throughout the other critical infrastructure sectors, impairing everyone from the federal level of government to the private sector, which all require a form of communication on a daily business. A second critical infrastructure that would have a great impact if attacked by terrorist would be the Food and Agricultural sector. This sector also would have a rippling effect in relation to other sectors in the event of an attack. If we were unable to grow, produce, or manufacture our own food, we would be at a disadvantage, forcing us to rely on imported foods and would face an economic nightmare as we struggle sending funds outside the U.S. to feed it

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With computer technologies and the internet has connected the world together with the ability to communicate with people in different countries. As a society, we have become very dependent on computers and when the systems go down we cannot function as well, businesses cannot conduct their business. With the internet connecting the world together, it gives concerns for cyber-terrorism and cyber-attacks. Cyberterrorism is when a group attacks a target with intention of causing harm and further political, social, religious, or other goals. Cyber-attacks are attacks on a target system carried about by different people and may not be associated with a terrorist group.

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Information about hackers: There are 3 Types of hackers; White hat hackers aka ethical hackers, black hat hackers, and gray hat hackers. All these hat hackers, they are all really talented hackers but they all have different intents. The first type of hacker is the “good guy” hacker, this type of hacker is a called white hat hacker. These hackers hack to see any bugs and security holes and report it to the government.they also help the government with foiling heists etc.

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Ethical issues The different ethical issues are as following: - Ethical Hacking: With hacking one of the ethical issue which comes is “ethical hacking.” For the sake of informing the content owner they try to compromise computer systems they are nothing but ethical hackers or white hat hackers. So it becomes possible for them to fix the problem. So there is no ethical issue, since the target company is aware of and is paying for this service, some security professionals do this for a living.

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705 Words | 3 Pages

Cybersecurity has become a growing cause for concern in the United States and indeed countries around the world. On February 9, 2016 President Barack Obama announced his Cybersecurity National Action plan (CNAP) to further the nations efforts to protect government agencies, citizens, and businesses from cyber threats domestic and abroad. However, cybersecurity is not a new issue in fact it is as old as the internet itself. With that said, I keep thinking back to that warm September day stained with the image of an enormous fireball engulfing our small TV set. This horrific day changed the course of history forever along with my future career path.

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Computer viruses, denial of service attacks and other Internet based hacking, espionage and attacking will take place against financial industry as well. Just as the case of 9/11 in the U. S. where a financial center was targeted, so too will future cyber attacks be focused. Bringing down the New York Stock Exchange would be a prime target for some other countries or groups. Just like the War on Terror is a global war so is

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" Our generation is one known for the internet. Many of us have never known a world without the internet. A good thing about that is that we stay informed on subjects from all around. A bad thing is cyber-bullying and negativity. But no matter what negative or positive place we withhold on the internet, one thing that stays the same is government control.

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1161 Words | 5 Pages

Safety of our citizens is of utmost importance in creating a robust society. Building sustainable communities that are inclusive, secure and sensitive to needs of the citizens will continue to be of national priority. However, over the years, crime has stymied this endeavour. There must be a commitment to ensuring safety, security and justice for all citizens, which are seen as moral rights and intrinsic to development. Good policing, targeted social interventions and an efficient judicial system are needed to help our nation thrive.

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