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Cybersecurity, innovation and the Internet economy

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June 9, 2011
Cyber Security, FedCyber Wire
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via Help Net Security

The U.S. Department of Commerce today released a report that proposes voluntary codes of conduct to strengthen the cybersecurity of companies that increasingly rely on the Internet to do business, but are not part of the critical infrastructure sector.

The report, “Cybersecurity, Innovation and the Internet Economy”, focuses on the “Internet and Information Innovation Sector” (I3S) — these are businesses that range from small and medium enterprises and bricks-and-mortar firms with online services, to social networking sites and Internet-only business, to cloud computing firms that are increasingly subject to cyber attacks.

“Our economy depends on the ability of companies to provide trusted, secure services online. As new cybersecurity threats evolve, it’s critical that we develop policies that better protect businesses and their customers to ensure the Internet remains an engine for economic growth,” said Commerce Secretary Gary Locke. “By increasing the adoption of standards and best practices, we are working with the private sector to promote innovation and business growth, while at the same time better protecting companies and consumers from hackers and cyber theft.”

Today’s report, based on extensive public input, addresses the growing economic importance of strengthening cybersecurity protection and preserving consumer trust in the Internet. Global online transactions are currently estimated by industry analysts at $10 trillion annually.

Continued here.