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FBN’s Peter Barnes on efforts in Congress to improve cyber safety to help reduce the costs of cyber attacks on small and medium-sized businesses.
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Went Internet commerce growing so our cyber attacks especially on small companies which do not have as much resources to spend on cyber security as large firms now congress is trying to help.
-- -- small business subcommittee is reviewing government efforts to improve cyber safety.
About 40% of some of cyber attacks are actually small businesses.
Yes and that could be completely devastating to small business is there isn't attack.
60% of those small businesses will go under within six months.
According to the subcommittee the annual cost of cyber attacks on small and medium sized companies was more than a 188000.
Dollars last year and the Justice Department reported more than 300000.
Cyber security related complaint.
Among other things policy makers are considering establishing a national standard for reporting -- -- breach strengthening criminal -- -- statutes and requiring some private industries to develop cyber security plan.
What we don't want businesses have to do is -- or more costs.
And -- have to adhere to more regulation -- over regulation in this area.
That's it for this edition of the small business report.
Peter Barnes Fox Business Network.
