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| US seeks to tackle trade-secret the |
| US seeks to tackle trade-secret theft by China, others
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| UNITED STATES OF AMERICA
, 21-February-2013
10:6:59 AM |
| Faced with the growing theft of US trade secrets, the White House said on Wednesday it was stepping up diplomatic pressure and mulling tougher laws to stem the threat to American businesses and security from China and other nations.
The plan includes working with like-minded governments to put pressure on bad actors, using trade policy tools, increasing criminal prosecutions and launching a 120-day review to see whether new US legislation is needed.
"A hacker in China can acquire source code from a software company in Virginia without leaving his or her desk," US Attorney General Eric Holder said at a White House event to unveil the strategy.
Although the White House report did not cite China by name, many see the Asian giant as the main threat. A study released this week by a private security firm accused the Chinese military of orchestrating numerous cyber-attacks against US businesses, a charge Beijing has denied.
The Obama administration said its strategy aims to counter what Holder called "a significant and steadily increasing threat to America's economy and national security interests."
"As new technology has torn down traditional barriers to international business and global commerce, they also make it easier for criminals to steal secrets and to do so from anywhere, anywhere in the world," Holder said.
Last week, Representative Dutch Ruppersberger, the top Democrat on the House of Representatives Intelligence Committee, said US companies suffered estimated losses in 2012 of more than $300 billion due to theft of trade secrets, a large share due to Chinese cyber espionage.
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