The recent disclosure of the massive hacking of J.P. Morgan Chase and a number of other financial institutions has focused attention on the vulnerability of these companies at the core of the American economy. Cybercrime is a reality of modern day life, but the manner in which the government and industry are presently battling this scourge is seriously lacking. According to White House Cybersecurity Coordinator Michael Daniels, the administration has given up on its efforts to pass a large, comprehensive cybersecurity bill and instead is focusing its attentions on a more piecemeal approach that would increase the authority of the Department of Homeland Security and facilitate cooperative efforts between the Department of Homeland Security and private companies. The present lack of communication and cooperation between business and government is troubling.
The tremendous interconnectedness of computers, smartphones and other electronic devices has revolutionized every aspect of the way we live today, but it has also exposed tremendous vulnerabilities of individuals, companies and governments to attack by criminals and countries readily able to exploit those vulnerabilities. It is incumbent upon us all to appeal to our business and government leaders to work together and come up with unified solutions that are sufficient to meet the dire threats we face while protecting the privacy of individuals as much as possible. The talent is there.