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-- banks three banks now falling victim to hack has this week and last night Defense Secretary Leon Panetta -- of the recent cyber attacks.
Against oil and gas companies in the Persian gulf -- probably.
The most destructive of the private sector has seen it today so while we so vulnerable.
To cyber attacks -- joining me now is -- -- Schmidt former cyber security coordinator and special assistant.
To President Obama and how -- thank you for joining us.
You know -- quickly talk about these bank attacks group claiming to have ties to radical Muslims.
Actually picks out banks before they launched his attack and seemed to be successful why is -- the banks.
Even when that warned ahead of time can't stop these types of attacks.
You I think there's two pieces of there's things at the bank can do to better protect themselves.
When -- write the the programs that we interface with through the web taking more care in making sure there's not vulnerabilities in there they can be exploited.
The second piece is interesting it's out of the control the banks and that's -- as end users small businesses universities.
Whose computer systems have effectively been compromised.
Taken over and operated by remote control and used once again did to launch attacks against the financial services banks and so far it's been denial of service attack but of course everyone is very concerned that they can get access to your money and oil personal information and there -- belief that perhaps this -- be a smokescreen so they -- do just that is that a valid concern.
Very much a valid concern and that's one of the things particularly with identifying in advance with the banks were what the potential targets were.
And therefore it really focus a lot of -- -- towards trying to stop that and deal with that.
In the meantime like anything else if you do the divergent Italy's other assets uncovered.
And that's the big concern by many -- -- says it's just a diversion they're trying to steal credit card information -- trying to get personal information.
They're trying to actually hack into accounts for longer term a stripping a money out of people's accounts.
Look the Pentagon cannot I guess vital all of defend commercial.
The networks but this is an attack on.
National banks I mean at what point does the government stepping in and -- it.
Well I think the government has been doing a lot and you're right there's some some laws in place that prohibit what -- cannot be done.
But for the most part I think the government can help out in the few areas number one sharing information about.
Technical controls technical vulnerability remediation those sort of things that can help people be stronger.
While this one was different because it was telegraph.
The government also through law enforcement intelligence had information advance they can share with the private sector.
Had proposed legislation on that that so far is not going anywhere there's discussion at the White House are creating an executive order to make it's that Schering available.
But there's a lot that they are doing and I think that continue to be enhanced -- very quickly and -- -- about fifteen seconds how it.
Leon Panetta says that these are the type of warnings that we received similar to pre 9/11 and that ultimately could lead to catastrophe would you agree with him.
Yeah I agree that that they we have the potential for some catastrophic.
Outages to weather whatever sector might be including -- financial services.
Which is why we have to reduce the vulnerabilities now.
Right we have been more no doubt alright Howard Schmidt thank you so much for joining us really appreciate it unsettling -- -- -- we got to give you a necklace.
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