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The US under cyber attack JPMorgan Chase reporting a denial of service attack on its website this after -- cyber group.
Al Hasan vowed another round of attacks against US financial institutions and what has now become the groups calling card.
And president's Obama meeting with the CEOs today at the White House.
To discuss efforts to improve security and private industries.
Here with an inside look at how Washington can fight -- former secretary of Homeland Security Michael Chertoff co-founder chairman of global security advisor firm.
-- Chertoff group which consults companies.
On cyber security secretary welcome we're thrilled to have -- this afternoon.
Good to beyond -- -- -- you're saying cyber attacks here -- even bigger threat than al-Qaeda type terrorist attacks give me a sense of the magnitude of this threat how fast it's growing.
By year -- here really -- with three separate types of threats one reason -- theft of intellectual property.
A lot of the going overseas.
And that has a serious economic impact you have denial of service attacks on the banks -- those who become.
I pretty intense recently they can be -- they can interfere -- was doing he can get access but they're not fatal.
And then there's a possibility of an attack on critical infrastructure something that would actually damage our transportation system that water system -- power system.
And that could actually have real life.
-- consequences including the loss of life.
So each of these is this a serious.
-- so where are we now if the goal as you're describing US of these cyber attacks is trade secrets I.
Fat -- and again stealing trade secrets that and there is a threat to human life I mean at what point will that be killing the ultimate goal.
Well I think we're we're.
And several different face we're here we respect the theft of intellectual property I think that.
National security advisor spoke a couple of days ago about the need to really outrageous with the Chinese and a vigorous fashion.
They've got to understand that they're hurting themselves globally.
In terms of your reputation and the economic position by having a -- I deserve -- reputation for taking a lot of intellectual assets.
I'm the attacks that actually could be destructive there we need to get the private sector.
Involved in making sure very invest in the effort and the mining necessary.
To protect their networks the government has a role it can it can certainly operate.
Overseas -- government can share important intelligence.
But -- -- the -- gauge how blocking and tackling has to be done in the private sector.
And that's the president's goal today right secretary meeting with these corporate business leaders to discuss ways of preventing future cyber attacks.
But all of this is going on against this national debate of how -- rein in spending so can anything practical really come of this meeting with the president today.
I think first of -- with the.
Private sector needs to invest and that's not a matter of the federal budget that's a matter of recognizing.
That's -- is important to protect your assets from cyber attack as you used to lockyer treasury to make sure people don't -- your money.
As far as the government's -- I think pretty much everybody predicts that even in a tight budget environment.
The government is -- to -- need to invest more in cyber security and and director clapper.
Actress spoke yesterday about the fact that in the long -- if we don't make.
Adequate margin investments in cyber we're gonna find ourselves on the receiving end it's very very -- surprised.
So is today's protecting against cyber attacks going to fall upon the private sector given what.
You've just told me because.
We also learned this week that the Pentagon cyber command unit will creek thirteen offensive teams by fall of 2015.
So it's almost like you're working on two different fronts to solve this problem but there might not be the money right from the government to really support that front.
While Oreo write your -- different fronts for the government generally takes responsibility for what we call your -- -- what -- guys outside the country.
For severely dealing with state adversaries.
But in terms of our domestic networks while the government can play a role in helping people and empowering people -- sharing information.
We don't expect the government to sit on everybody's private network -- look at everything that goes back and forth.
That's the responsibility that order flaw in the private sector I think.
Hear what we're looking to do we set some standards.
I encourage people to make the investments we need to make and then give them the information that they need to be intelligent.
About how they deploy their defenses.
Thank you for your take on this troubling issue secretary Michael Chertoff.
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