Testimony of Bill Conner, President and CEO of Entrust
Before the Subcommittee on Communications and Technology
of the Energy and Commerce Committee
U.S. House of Representatives
Part 1
Hacking for Harm
Experts agree that cybercrime poses a greater threat to the security of nations, corporations and individuals than ever before. In recent years, cybercriminals have moved from hacking for honor — such as for bragging rights within the hacker community — to hacking for harm and profit; in short, it’s now overt criminal activity. Increasingly, the most common victims of targeted cybercrimes are those who can least afford a major financial hit such as small businesses. With the increased dependence of the Internet to conduct business, it is no surprise that cybercrimes — ranging from identity theft to financial fraud to cyber terrorism — have dramatically increased against small and large enterprises. Unlike citizens, who are protected by FDIC regulations, businesses’ cash or intellectual property is not safeguarded by law.
By Bill Conner