Republican Task Force Encourages Incentives to Businesses Who Beef up Their Cyber Security

By Oliver VanDervoort October 06, 2011

In the 21st century, Internet security is a phrase you hear almost every day. More and more people are spending a increasing amounts of their time online and sending and receiving so much data they don’t even realize what is out there on the web. While most people can take basic precautions to keep their identities safe, on occasion a hacker can shed light on just how many holes are in a company’s defenses. Sometimes the very companies that we expect to keep us safe are actually the ones who are violating both our privacy and our security. Other times, companies we consider to be hard to crack are hacked in such a way we know universal security measures need to be bumped up. A task force made up primarily of Republican lawmakers has come out with a new idea. The House of Representatives task force says that the government should provide incentives to companies that boost their cyber-security.

While the committee believes that companies should get incentives for boosting their security, the members of the task force also said that there may actually be a need for increased regulations when it comes to the Internet security of facilities like power plants and water treatment plants. The group of 12 congressmen, headed up by Marc Thornberry, issued a report that said that all of their recommendations could reasonably be acted upon during this Congress. A new Congress will be put into place in January of 2013.

The Thornberry report is hardly the only one that Congress has put together. Senate Majority Leader Harry Reid has been attempting to put together a more comprehensive cyber security measure. Not surprisingly, Democrats and Republicans on the Hill cannot seem to agree on the most effective ways to increase security. 

While identity theft is an individual problem that can be hurtful, a new report by the Ponemon Institute shows that cyber attacks on business are incredibly costly as well. The report shows that these attacks cost American and Multi-National corporations between $1.5 and $36.5 million every year according to the 50 corporations that were surveyed for the report.




Edited by Rich Steeves

Contributing Writer

SHARE THIS ARTICLE
Related Articles

Mitel Going Private, Managed Services Giant with Rackspace on the Horizon?

By: Erik Linask    4/26/2018

Mitel is once again in the news. The 45-year-old communications provider has been on the buying end of multiple transactions in its quest to transform…

Read More

Four Reasons to Reach for the Cloud after World Earth Day

By: Special Guest    4/23/2018

The World Earth Day agenda offers a chance to flip the rationale for cloud adoption and highlight environmental benefits that the technology brings pr…

Read More

Bloomberg BETA: Models Are Key to Machine Intelligence

By: Paula Bernier    4/19/2018

James Cham, partner at seed fund Bloomberg BETA, was at Cisco Collaboration Summit today talking about the importance of models to the future of machi…

Read More

Get Smart About Influencer Attribution in a Blockchain World

By: Maurice Nagle    4/16/2018

The retail value chain is in for a blockchain-enabled overhaul, with smarter relationships, delivering enhanced transparency across an environment of …

Read More

Facebook Flip-Flopping on GDPR

By: Maurice Nagle    4/12/2018

With GDPR on the horizon, Zuckerberg in Congress testifying and Facebook users questioning loyalty, change is coming. What that change will look like,…

Read More